LAND TRANSFERS IN BELIZE. A SUGGESTED NEW METHOD.

LAND TRANSFERS IN BELIZE - A SUGGESTED NEW METHOD.

The problem with a slow Lands Department, on lease and title transfers. To the general public, the process of each takes about three years. Also the problem of buying land at auction and not having any title, or lease insurance by the seller, or auctioneer, is one of the growing pains of our developing country. I was thinking if I ever bought again, from an auctioneer, or anybody, I would simply open a LETTER OF CREDIT at the bank, for a specified period of time ( e.g. 3 months )to pay for said land, you bid on from a seller, and the seller could collect the money, when the title, or lease has been transferred.
It would be even better if you could get TITLE, or LEASE insurance and require that as a part of the buying contract.