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The Government’s landmark Condominium Bill No. 4 of 2022, which will pave the way for persons who own duplexes to secure ownership documents was moments ago passed, during the 47th sitting of the 12th Parliament.
The Bill makes provisions for the horizontal and vertical subdivision of land and buildings into units for individual ownership, and for the use and management of condominiums. It was presented by the Minister of Housing and Water, the Hon. Collin D Croal.
Support was given to the Minister by Prime Minister Brigadier Retired Hon. Mark Phillips, Attorney General, Hon. Anil Nandall, Minister within the Ministry, the Hon. Susan Rodrigues and Minister of Tourism, Hon Oneidge Walrond.
Among other things, the Bill also now allows for commercial banks to accept titles for the properties, and insurance companies to issue policies to owners of condominiums. Clause 19 of the Bill states that units in a condominium constitute immovable property, while Clause 20 provides for the title of ownership of a condominium unit.
The Bill also requires that proposed declarations and descriptions of units be approved by the subject Minister before a condominium is constructed or before an existing building is converted into a condominium. It also empowers the Minister to approve, reject or direct the amendment of a proposed declaration and description.
Previously the Act catered for the regulation and division of properties into parts that are to be owned individually and parts that are to be owned in common, and to make provision for the use and management of such properties, and to make provision for the assignment of certain properties owned by the Government.