Use this form:
When two (or more) persons own a property as joint proprietors and they wish to sever (split) the ownership into distinct shares and subsequently hold the property as proprietors in common (ie. with each person holding a fractional share of the property).
In submitting this form you should enclose the following (where applicable):
- Completed submission record (see below), ensuring checklist to the rear of the form is completed
- Removal of any Restrictions or Cautions (if required), or consent of cautioner
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.
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:
- The required ownership arrangements are clearly stated in fractional format (ie. 3/8ths share), and that the sum (total) of the fractions is 1.
- There are no more than 10 separate fractional owners as a result of the transaction (prohibited under the Registered Land Law).
- 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, including postal / zip code
- Amendments are initialed by all parties. The use of correction fluid is not permitted