Long Term Leases are issued to clients whose application would have been approved and requisite cadastral survey carried out so as to properly define and describe the area as per Survey Plan/ Diagram.Leases that are issued now has a 50 years term with a number of stipulations and conditions as called out in the said lease e.g. right of renewal, right to sublet, right to transfer and mortgage, right of lessor to inspect land etc.
This is done through an application to mortgage addressed to the commissioner of Guyana Lands and Surveys Commission (application to mortgage forms can be obtained by any GL&SC office). This application can be done at any of the respective branch office for which area falls under.
The following information must be included with the application:
Before permission is issued all fees and rents must be paid up to date or lessee is in compliance with an agreed payment plan.
Transfer of leases is a simple process that is allowed under the conditions of a lease. Application for transfer is done at any of the respective branch offices for which area falls.
Transferors are required to and must provide the following for processing of an application to transfer:
• Surrender Original copy of lease.
• Clear all rents.
• A certified copy of valuation report.
• Pay inspection fees and 2% duty on current value of land.
• Completed, signed and notarized (by Commissioner of oaths), transfer application form
Transfer will not be done for leases with a remaining period of only one year. In such cases clients will be advised to apply for renewal first or surrender the lease.
Renewal of a lease must begin processing not later than 30 days before expiry of the lease.