MP Akierra Misick explains how to gain from Land Debt Forgiveness Program
#TurksandCaicos, March 9, 2023 – Residents have the ability to now purchase freeholds of land held under their Conditional Purchase Leases plus additional debt forgiveness and one Member of Parliament is giving residents advice on how to proceed, though she advises ‘patience’ as the process includes hundred of parcels of land.
The newly passed Crown Land Ordinance (Amendment) Bill:
- Increases the Islander discount to 50 percent
- Allows for the exchange of land that has been mistakenly occupied
- Changes the offer of land acceptance period to 6 months
- Removes the need for approval from the the Advisory Panel to sublet a lease
- Removes the requirement for the payment of arrears when a CPL is being SURRENDERED
- Allows heirs to purchase the land held under a CPL belonging to a dead CPL holder.
The the Crown Land (Residential Conditional Purchase Lease)(Arrears And Mesne Profit)(Amnesty) Bill allows residents to
- convert CPL it’s a free hold without having to pay the arrears and mean profit which are often tens of thousands of dollars)
- Pay off the cost to buy a freehold in installments
- Allow relatives to purchase freeholds on their deceased family members CPLs
Akeirra Missick, Former Minister of Physical Planning and Infrastructure Development and an attorney at law offered advice to residents who were looking to take up the new benefits afforded to them.
“I want to encourage all residents to read the legislation once it is posted. And to be mindful that either during the supplementary or the main budget staffing requirements would need to be taken to bolster the department.”
For this reason, Missick encouraged patience with the Department.
“Don’t rush– and say I don’t have to pay any more arrears and I want my Crown Land tomorrow. There is a process. Here is my advice to all CPL holders who have not yet converted your CPL to Freehold,” she said listing the best way to go about the process:
- Collect all your documents to show you had received an offer and accepted.
- Know your parcel number (check Crown Land Allocation Register)
- Fill out the application form
“Then give them time” she encouraged “We are talking about some 40,000 parcels across the islands.”
She said after this, residents would be provided with valuations and costs to decide how they would finance the land.
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