Ownership

Ownership

Properties in Belize are owned “FEE SIMPLE”, i.e., owned outright in perpetuity. You will receive a Land Title Certificate (Title) once your property is either paid for in full, or when your "mortgage/charge" is paid off. All rights run with the property, just the same manner as for property rights which are held in The United States and Canada. Covenants (Deed Restrictions) are included in our Deeds. This is not a leasehold interest.

Title Insurance

First American Title Insurance Company of Florida will provide Title Insurance if you desireor you may obtain your own, probably at a greater cost with less coverage. Cerros Sands holds a Master Title Policy with First American Title. Barrow and Williams, Attorneys at Law (Belize City) has provided the legal opinions required by First American Title. The Honorable Dean Barrow of this firm was recently elected Prime Minister of Belize.

Construction

As of yet there is no requirement to build on your vacant parcel(s) at Cerros Sands, We are very much committed to developing a robust, integrated community, therefore this policy will be altered in the near future. When this change does occur, requiring a modification to the Covenants, all prior owners will be protected from the requirement to build out their lots within a prescribed period of time via a "grandfathering" clause.

Minimum requirements for square footage of Homes is determined by parcel size and location (Beachfront, Beachview, Channelside, etc). All construction and building plans must be approved by the developer's Architectural Committee. You may contract your own builder, select a builder in Belize or from elsewhere, hire a construction supervisor or build yourself.

Taxes

Belize has NO Capital Gains Tax. However there is a 10% General Sales Tax on real estate and a 5% Stamp Duty on property transfers. The General Sales Tax is only applicable upon the first transfer of the property. Thereafter only the 5% Stamp Duty is charged. Property taxes are currently less than $100 US per year.

Availability

Parcels are currently available with very competitive pricing. Parcel types include Beachfront, Beachview, Channelside, Commercial, Marina and Resort parcels. Channel parcels have an allowance for a deep water dock. All parcels are located on the eastern (windward) shores of the Cerros Peninsula fronting on Lowry's Bight (a part of Corozal Bay and the larger Chetumal Bay).

Restrictions

Deed restrictions known as Conditions, Covenants & Restrictions (CC&R's) will insure the overall integrity of the development. Architectural guidelines are also in place. There is NO homeowners association contemplated at present however, we would anticipate that various ownership regimes will be advisable for the community's long-term management and operation. We believe that owners within our community, as it develops, would and should have significant input with respect to the community's internal governance.

Current Information

Progress at Cerros Sands can be tracked at the Community Update section of this website.

Inventory & Pricing

The availability and pricing of all parcels are subject to change without notice. Properties may be added or withdrawn from inventory at any time. Currently, properties in other areas of Belize are selling for much more per foot of linear frontage, also without the protection of Covenants and Architectural Guidelines for land use. The developer wants to ensure healthy property values at Cerros Sands. Too many times we have seen "dreams" disappear where there are no protections for land use. For instance, when a taco stand is built next door to someone's dreamhouse it does not help to maintain your property's worth.