There are a number of law firms in the Cayman Islands providing providing legal advice for real estate transactions, ie conveyancing services. Conveyancing is the technical word that is used to describe the way that a property is legally transferred from one person to another.
(For readers from the United States, legal professionals providing conveyancing services are referred to as Real Estate Closing Attorneys.)
Technically, you can do the conveyancing yourself, but if the property is being bought with a mortgage, you are advised to use a lawyer to confirm that the property is free from any liens or other encumbrances. A few law firms in Cayman have departments that specialise in conveyancing (see further below).
Conveyancing professionals prepare the paperwork for your mortgage and property transfer. They check that there are no encumbrances such as a mortgage lien, outstanding strata payments or old and unpaid water bills.
They usually charge 1% of the property value unless a different figure has been negotiated. A typical simple transfer of land takes no more than three to four weeks, with registration of the new proprietor at the Land and Survey Department taking place four to six weeks after that.
Here are the recommended lawyers in Cayman providing real estate legal advice and conveyancing services.
Dentons' is an international full-service law firm advising on a wide variety of practice areas.
Maples and Calder
A leading international law firm advising clients worldwide on the laws of the Cayman Islands, Ireland and the British Virgin Islands.