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Buying and Selling Property: A Comprehensive Guide

Buying and Selling Property

Overview

The purpose of this course is to explain and de-mystify Real Property transactions in Trinidad and Tobago. The purchase of Real Property is usually the biggest investment a person would undertake in their lifetime.

Naturally, persons would be apprehensive when it comes to parting with their life’s savings towards the purchase of a structure that will become their home. The average individual is quite confused by the seemingly complex web of legal jargon, documents, time-lines, rules and requirements in relation to purchase of property. It is therefore easy for someone to feel lost, frustrated and intimidated during the transaction.

This course is designed to relieve some of the fear and anxiety of prospective buyers, as well as provide valuable information to prospective vendors as they embark upon the sale of real property. This course will also increase the participant’s level of fraud awareness in property sales, so they will not be a victim of unscrupulous persons.

Why Study This Course?

  • It is important to understand how transactions that involve property work to avoid mistakes and pitfalls that cost time and money.
  • This course will improve the participant’s understanding of the legal framework for property transactions.
  • The participant will have the knowledge to be able to ask the right questions and ensure that the property sale goes smoothly for both the vendor and the purchaser.
  • To increase in confidence when buying or selling property.
  • The benefit of technical knowledge if you work in the real estate industry.

Course Outline

  • Legal framework that governs the Real Estate Industry:
  • Conveyancing and Law of Property Act, Real Property Act, Registration of Deeds Act, Real Property Limitation Act, Land Tenants Security of Tenure Act.
  • Basic Principles of Property Law
  • Explanation of typical jargon used in Conveyancing/ Property transactions
  • The typical Property Sale process: from the Agreement for Sale to Closing and registration of Deeds
  • Navigating Financial Institutions
  • Condominium/Strata-Type Developments
  • Understanding the roles of the professionals in the Real Estate Industry
  • Rules relating to Landlords, Tenants and Leases
  • FIU Compliance and Reporting Standards
  • Future Regulation: Real Estate Agents Bill 2019 (not yet laid in Parliament)

Who Should Attend?

This course targets the following persons:

  • Persons who are contemplating the purchase or sale of Real Property
  • Real Estate professionals who wish to improve their technical skills
  • Bank/ Credit Union officials/Loans Officers responsible for a mortgage portfolio
  • Executors/ Administrators of Estates who must deal with the property of deceased persons.

Pre-REquisites

There are no pre-requisites for this course.

Hands On

This course is based on Real Property Law as taught to law students and has sufficient opportunities to apply legal principles to real-life scenarios.

Course Duration

Twenty-one (21) contact hours. Three (3) workshop sessions of seven (7) hours.

Course objectives

Principles of Property Law

  • To understand the steps and processes involved in buying and selling property.
  • To understand the legal framework for conveyancing transactions and the basic principles of Property law.
  • Recognize the documents used in a typical conveyancing transaction.
  • Identify the roles of the key professionals in the Real Estate Industry.
  • Avoid pitfalls that can lead to being a possible victim of fraud.
  • Understand the basic principles that underpin the relationship of Landlord and Tenant.
  • Navigate the processes in obtaining financing for Real Estate.
  • Understand FIU compliance and reporting standards

Course Schedule

Course Offering

Day Time Duration Contact Hours Cost Lecturer
Saturday 09:00 am to 04:00 pm 3 Weeks 21 hours $1,600.00 Ms. Erica Cummings

Session - Saturday (09:00 am to 04:00 pm)

Session Start Date End Date
Session 1 Saturday, June 6, 2020 Saturday, June 20, 2020
Session 2 Saturday, October 3, 2020 Saturday, October 17, 2020

Student Support

Facilitator

Erica Cummings – LLB, LEC, EMBA

Erica Cummings is an Attorney at Law of over 18 years standing at the bar of Trinidad and Tobago. Early in her career she was an Associate Attorney at Law at the Law firm Hobsons in the Property and Estates Department. Ms. Cummings then went on to be appointed as a Registrar in the Land Registry of the Registrar General’s Department.

Ms. Cummings lectured the course Conveyancing and Registration of Title at the Hugh Wooding Law School for 8 years and currently teaches Property Law in the Real Estate program at the UWI-Roytec School of Business and Applied Science. Ms. Cummings is also the holder of an Executive Masters in Business Administration (EMBA) from the Arthur Lok Jack Global School of Business.

Programme Manager

The programme manager is responsible for the management of the course. If you would like further information or would like clarification on the course please contact the programme manager.

Mr. Matthew Christian
Phone: 720-2939
E-mail: mchristian@ctscbcs.com

We are an ACTT recognised institution and partner with international awarding bodies

Affiliates