Completion Time Frame: 7 days
Completion Costs: 2% of property value (Stamp duty)
Points to Note:
The transfer documents can be prepared by the parties or by their solicitors. Once completed, they are submitted for stamping and payment of transfer tax at the Stamp Duties Office.The tax agency FIRCA has an officer working in the registry to verify that The Stamp Duty amounts to 2% of the property value, and it is waived for first time residential house purchases.
For properties held for less than 5 years, the Transfer Tax is paid at the same time and is between 5 and 15% of the property value.

Step 2: Settlement takes place at the Registrar of Titles Office

Completion Time Frame: 1 day
Completion Costs: FJD 10-100
Points to Note:
Parties meet at the Registrar of Titles Office for settlement.They first double check encumbrances on the property and then exchange the titles for the payment.Then, they submit the transfer documents for registration. The registration fee of FDJ 10-100 is paid. It is possible that some new mortgages might still be in “the pipeline” and are not yet recorded on the property at the settlement (the mortgage has been submitted in the registry, but it has not been inscribed yet). To avoid finding later about a mortgage on the property, it is possible to request a “guaranteed search” (under section 30, 31 and 32 of the Land Transfer act) where the registry checks and certifies that there are no other mortgages registered.

Step 3: Buyer receives the title with his name

Completion Time Frame: 60 days
Completion Costs: Already paid
Points to Note:
After submitting the transfer documents for registration, the new title, with the name of the buyer, will be issued and prepared in about 60 days.