When buying or renting property in Jamaica, understanding key terms helps in making informed decisions.
Buying Property in Jamaica
Price
The purchase price includes the property’s cost plus transfer taxes, legal fees, stamp duty, and closing costs.
Title & Ownership
Freehold – Full ownership of land and property with responsibility for maintenance and taxes.
Leasehold – Right to use the property for a set period; leaseholders may pay ground rent and maintenance fees.
Strata Title – Common for apartments and gated communities; owners hold freehold units but pay fees for shared areas.
Company-Owned – Some properties are owned by companies, requiring a share purchase instead of direct ownership.
Family Land – Inherited property shared among family members, often requiring collective consent for sale or development.
Squatter’s Rights (Adverse Possession) – Land occupied openly and without dispute for 12 years (30 for Crown land) may be claimed through legal processes.
Property Ownership Costs
Stamp D…
