Conditional Purchase Lease

What is a conditional purchase lease?

A conditional purchase lease refers to a lease under which the person to whom it is granted (lessee) has the right to purchase the property provided he/she complies with the conditions of the lease.

What to do when a conditional purchase lease has expired?

A conditional purchase lease is initially granted for a period of three (3) years. After the three years has expired the lessee has the option of either applying to (i) purchase the freehold , (ii) acquire an extension of the lease or (iii) surrender the lease .

A person applying for an extension of a conditional purchase lease after the expiration of the initial three (3) years will be granted no more than two (2) years and must either purchase the freehold or surrender the property to the Crown at the end of the two (2) years.

An application to extend a conditional purchase lease is subject to a current valuation of the land and rent level determined by the Government’s Valuation Office on the basis of an arms length sale between a willing seller and purchaser.

How do I qualify to apply for the purchase of a freehold title or an extension of the conditional purchase lease?

A lessee qualifies to apply for the freehold or an extension of the lease where

A lease is registered in his/her name for the parcel that is the subject of the application..
All arrears and mesne profits have been paid
No building erected on the parcel has encroached upon the adjacent parcel. If the lessee has commenced development a survey will e conducted to verify that the development is within the parcel boundaries

Surrender of Conditional Purchase lease

A lessee may apply to surrender a conditional purchase lease provided all outstanding Land rent and fees due are paid prior to the acceptance of the surrender.

A lessee who does not apply to formally surrender the land or otherwise regularize his/her position by purchasing the freehold or opting for a final two (2) year extension of the lease will be liable t pay all rent and fees due together with mesne profits and this debt will be recovered through court action.

How do I apply?

Application forms may be collected from the offices of the Crown Land Unit;

Complete an application form and pay a non –refundable application fee of $100.00

Approved applicants will be given 3 months to pay the necessary fees and return the signed documents to the crown Land Unit. Failing which the application will be considered abandoned.

In the case of abandoned applications, if the lease has expired or there are arrears of rent, court action will be initiated to recover any monies outstanding and to gain possession of the land.

QUICK LINKS

Application Forms
Application Fees
Maps
Brochures
Survey & Mapping
Land Registry
Valuation

DOWNLOADS

Procedures Manual
Crown Land Policy
Crown Land Ordinance

RE: NOTICE TO ALL LESSEES

The Crown Land Unit wishes to advise all persons holding an expired Conditional Purchase Lease, that pursuant to Section 36 of the Crown Land Ordinance; you may apply to purchase the freehold or to renew the lease for a period of two years. Application forms are available at CPL1 Conditional Purchase Lease Application.

In order to apply for the purchase of the freehold or renewal of the expired lease, all outstanding rent and mesne profit must be brought up to date. I

In accordance with Section 35 of the Crown Land Ordinance, a person who has renewed an expired lease or holds a current Conditional Purchase Lease; may also apply to the Crown Land Unit for approval to assign the lease. Please click on the below link to download an application form to assign the lease.

CON1 Consent Relating to Crown Lease

Failure to pay the outstanding rent and/or mesne profit will result in the lease being cancelled.

NB: In keeping with the provisions of the Crown Land Ordinance, if a lease is cancelled or otherwise comes to an end, the land and all buildings and structures on it belong to the Crown.

For further details, you may contact:

Ms. Sharon Brown
Director (Acting)
Butterfield Square
Providenciales
Email: sbrown@gov.tc
Tel: (649) 338-5348

Ms. Inethe John
Assistant Director
Unit#5, Windmill Plaza, Church Folly
Grand Turk
Email: ijohn@gov.tc
Tel: (649) 338-2642