Last update: 09-Dec-2013 1:43 am
Monday, December 09, 2013
Trinidad & Tobago Guardian Online
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T&T gets $20 million IDB loan for property transactions
T&T will receive a $20 million loan from the Inter-American Development Bank (IDB) to improve handling of property registration, by cutting the number of days to register a property sale and to “enhance measures to identify property parcels and owners.” It currently takes about 78 days to record a property sale. The project will lower that number to 65, and lower the number of days needed to conduct a property instrument search from 11 to one.
The project will also improve the Registrar General’s Department, including “digitisation of all property-related records, staff training in document archiving and restoration, and improvements to IT systems, business processes, and customer service,” according to the IDB.
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