Support for Form RL 6: Transfer of Undivided Share

 

Form Required Forms

RL 6 Transfer of Undivided Share
(PDF, 75 Kb, 2 pages)

Document Submission Log
(PDF, 184 Kb, 2 pages)

Use this form for:

Use this form when you are transferring freehold title of an undivided share in parcel of land (or Strata Unit) to another person including:

  • Third Parties
  • Family Members
  • Companies
  • Trustees
  • Transfers where there is no change in beneficial ownership (ie. from an individual to a wholly owned company)

An undivided share is a proportional ownership (ie. 1/3)  of a property, held in conjunction with other shareholders.  One share in the property can be held by multiple persons, however only as joint proprietors (ie.  with all owners having an equal undivisable ownership of the share).


Submission Requirements

In submitting this form you should enclose the following (where applicable):

  • Completed submission record, ensuring checklist to the rear of the form is completed
  • Consent of other shareholders to the Transfer (except where the Transfer is to an existing proprietor in common of the same land).  Consent of the other shareholders cannot be unreasonably withheld.  If this is not supplied the Registrar will seek consent, which will result in a delay in the completion of Registration. 
  • Copy of Certificate of Good Standing (companies only)
  • Permission to hold property from Minister of Finance (exempt companies only)
  • Removal of any Restrictions or Cautions (if required)
  • Certified Copies for Caymanian Stamp Duty Concession
  • Waiver letter from Minister of Finance (if applicable)
  • Chattels List (if deduction for Chattels made)
  • Purchase Agreement or Receipt (if ad-valorem Stamp Duty paid on Purchase Agreement)
  • Copy of birth/marriage certificates for related parties (if Transfer is for Natural Love & Affection)
  • Land Certificate (if issued)

Once signed the form should be submitted to the Lands & Survey Department within 45 days of first signature, unless signed outside of the Cayman Islands , to avoid the accrual of late submission penalties.


Fees

Type Registration Stamp Duty
Standard Transaction CI $50
(US $60.97)
Ad-Valorem Duty based on consideration or Market Value, whichever is higher
Transfer for Natural Love and Affection CI $50
(US $60.97)
CI $50
(US $60.97)


Forms (Mandatory)

RL Form must be completed in Duplex format. If you do not have a Duplex Printer, print page 1, reinsert the page to the paper tray, and print page 2.

When completing the form ensure that:

  • Full names are stated (or as recorded on the existing Register), with signatures witnessed by a Justice of the Peace, Notary Public or member of authorised Land Registry staff, and correctly dated. Notary Public’s whose commissions do not expire must state so on the Registration Form
  • Full address is stated for the Purchaser, including postal / zip code
  • Amendments are initialed by all parties. The use of correction fluid is not permitted

Information on Specific Transaction Types

    Natural Love and Affection
  • For a transaction to be effected by Natural Love and Affection, no consideration (financial or otherwise) must pass
  • Property may pass for natural love and affection between:
    • Father or Mother to Daughter or Son
    • Brother and Sister, providing that they have the same parent
    • Grandfather or Grandmother, and Grandson or Granddaughter
  • Property may pass between extended family members in a single transaction providing that evidence of the relationship chain can be shown. The Stamp Duty fee shall apply separately to each ‘link’ in the relationship chain. i.e., a Transfer from Uncle to Niece would be considered as Uncle – Mother (CI $50), Mother – Daughter (CI $50). No further Registration Fees would be applied.