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$120M sale of President’s home transparent
– lawyer says
A lawyer for President Bharat Jagdeo yesterday said that the recent sale of the head of state’s Goedverwagting, East Coast Demerara property for $120M, was done in a transparent manner.
According to Attorney-at-law, Anil Nandlall, in a statement in which he disclosed that he was the President’s lawyer, the agreement of sale was executed on May 31 with the price set at US$600,000.
The imposing edifice, located east of the Ogle Airport Road, was sold to Desmond ‘Ernie’ Ross, whose address was given as 129 Park Avenue, West Moorings, Port of Spain, Trinidad and Tobago.
Ross, said to be the Chief Executive Officer/Creative Director of Ernie Ross Advertising Limited, and Guyana’s Honorary Consul to Trinidad and Tobago, was expected to pay US$120,000 at the signing of the agreement and the balance when the transport is passed, Nandlall said.
“As a result of inquiries from various press outfits and to avoid a public dissemination of misinformation and unnecessary speculation, I, in my capacities as the duly constituted attorney of and the Attorney-at-Law for His Excellency, have decided to issue this statement,” the lawyer said in the release.
According to Nandlall, the agreement provides that the transport would be passed within three months from the date of the said agreement.
The lawyer noted that as is required by the Deeds Registry Act, the Affidavit of Vendor, Affidavit of Purchaser and the Instructions to Advertise were duly filed with the Registrar of Deeds.
“In pursuance thereof, the said conveyance was duly advertised by the Registrar of Deeds for passing in the official Gazette on the 10th day of July, 2010, again, as is required by the Deeds Registry Act.”
Nandlall stressed that the entire transaction was transparent and all the documents are now public and can be readily accessed and scrutinized at the Deeds Registry in Georgetown.
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