Elite Properties

In the Terres Basses, on French St.Martin, real estate transactions are always handled by the Notaire (Notary). The Notaire is responsible for preparing the final deed and obtaining all relevant searches about the property. The Notaire must check that each party has full capacity or the right either to sell or purchase property. Like on the Dutch side of St. Maarten, the Notaire is responsible, by law, to both parties and is obligated to do a proper title search to insure a clear title transfer. Neither title insurance or a personal attorney are necessary.

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The following are some of the costs and taxes associated with properties in the Terres Basses:

• Virtually all properties in the Terres Basses are fee simple deeds, similar to the USA.
• There are annual property taxes
• Upon the sale of property there is a 33½% capital gains tax
• Offshore companies are welcome but with restrictions.
• As part of the covenants and deed restrictions of properties in the Terres Basses there are restrictions on building and renovating homes in the area

These are part of the covenants and deed restrictions known as the Cahier des Charges