Legal Fees and Taxes

Legal Fees (in Trinidad & Tobago): Two (2) legal documents are required – The Deed of Mortgage and the Deed of Conveyance. The costs of preparing these documents are approx 1.1% of the total mortgage for the mortgage deed and 1.1% of the purchase price for the conveyance deed. Stamp Duty is payable on all properties exceeding $450,000.00 as provided in the 2007/2008 Budget.

Buildings
$350,001 to $450,000: 5%
$450,001 to $550,000: 7.5%
Over $550,000: 10%

Lands
Within and up to $350,000: 2%
$350,001 – $450,000: 5%
$450,000 + over: 7%

Mortgages – Buildings
Paid on properties over $270,000.00
0.4% on ea. $1,000 on the total loan

Mortgages – Lands
0.4% on ea. $1,000 on the total loan

Please note that the above averages are subject to changes.