Deeds registries rake in over $700M

Dec 17, 2018 News

The Government through the deeds registries has collected $725,255,405 generated from the various services offered by the agency. During the period January-October 2018, all three Registries have earned significant revenue.
The Deeds Registry in Demerara earned $654,167,948; the Berbice Registry earned $56,610,656 and Essequibo Registry earned $14,476,801.
During the January to October period last year, $683,888,000 was collected.
The Deeds Registry is mandated to efficiently and expeditiously administer the laws enacted by Parliament affecting land by way of transport, leases, mortgagees or any other alienation thereof; as well as Powers of Attorney, Deed Poll and miscellaneous Deeds, and to take in revenue occasioned by the filing and registration of various documents, which are recorded in the Deeds Registry.
The Deeds Registry comprises two broad sections, the Conveyance and Notary Sections.
Meanwhile, for the period January-November, 2018, the Commercial Registry earned $183,969,436.
The documents filed for the period January to October, 2018 are as follows: New Business Name 9, 813, Business Name Renewed 8, 619, Bills of Sales 4, 730, Bills of Sale Renewal 2, 345, Trade Marks 601, Local Companies application 418, Foreign Companies application 16, Patents Renewal 12, Patents 5 and Trade Union 2.
In his recent budget speech, Attorney General and Minister of Legal Affairs, Basil Williams had revealed that the Commercial Registry’s plans for 2019 includes having the e-Registry system operational and accessible to the general public, having the beneficial ownership register in place, digitizing/uploading all company documents into the database, implementing the secure transaction regime and Moveable Property Security Act.
For the period January-October, 2018, the Land Registries both in Georgetown and Berbice completed some 7,083 transaction. Of this amount, 4, 041 miscellaneous, 1,413 transfers, 1,393 mortgages and 236 re-issued titles.
The issue of backlog and the Land Registry is now a thing of the past since the registry has been achieving a two week time span after date of filing, for delivery of Titles. Some of the noted developments in the Land Registry (Georgetown and Berbice) are that the registers have been scanned and the process of uploading same to the main system, restoration of Registers has been completed.
Continuing in his budget speech, Williams had said, “All registers pertaining to Demerara and Essequibo, and some in Berbice have now been fully restored i.e. the previously “loose leaf” state no longer exists following an exercise which was undertaken to restore all registers. These registers are now easily housed in a fireproof environment.”
In July, the nation welcomed the launching of two new websites for the Deeds and Commercial Registry Authority (DCRA) and the Land Registry. According to Williams, “It is heartening that the website has been visited by Guyanese living abroad, as well as locally, even though not yet frequently.”
He had revealed that the digitization of all records at the Land Registry, which began in the second quarter of 2017 is continuing. However, he said that the date for completion had to be revised due to a delay in obtaining certain equipment.

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