Posted by: realestatecaribbean | October 23, 2014

Dominica “What’s love got to do with it”

Do you remember that old Tina Turner song, What’s love got to do with it ?  For some reason this song ran through my head this week when I was confronted with the sad case of an American gentleman  who had married a lady  with OECS citizenship and put the property in her name, primarily to evade paying  the Alien Land Holding License fee.  With divorce staring him in the face he wanted to know what he could do to get  “his property ”  back. He had in fact built a nice home on the land. Now his wife wanted to sell and ensure that he got nothing.

 Those of you who follow this blog know that you can buy 1 acre for residential purposes and 3 acres for business without the need for a License but that you still have to pay the 10%  Alien Land Holding License fee. This  change was introduced in 2009. By the way, the limits are cumulative. I have met some people who are under the impression that these limits apply to each purchase. This is in my opinion wrong.

The gentleman in question  could not claim that he had an equitable interest because he provided the money to purchase. The reason being, it is illegal to evade the tax, any tax, and putting the property in his wife’s name was an obvious device to evade the tax. Equity requires that a claimant comes to the table with “clean hands”.

My advice to couples or friends  purchasing together is pay the License Fee,  it might cost you a lot more in the long run.  Furthermore,annual property taxes  are low to non- existent in Dominica and there is no inheritance tax or death duties. That sounds like a pretty good package.

For info on properties for sale on Dominica visit htttp://www.safehavenrealestate.com

 

 

 

 


Responses

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