Belizean Shores and Coco Beach Reply to Shares vs Strata
Following up to our article from a few days ago about Share ownership vs. Strata Title ownership in condos: We have received the following information about Coco Beach Resort and Belizean Shores. These developments were sold as share ownership offerings only because at the time construction commenced upon the land they occupy strata title was not an option as the land was not Registered. As many readers will know, both are very successful developments, well built and highly regarded here on Ambergris Caye.
We have been informed by a very reliable source that Stamp Transfer Tax was paid on every unit at Coco Beach and Belizean Shores. Furthermore the developers/owners are hoping to convert the ownership for individual condo owners from share ownership to Strata Title ownership as they know this will benefit most every condo owner there.
The new condos with a Venetian them that is planned by the same developers who built Belizean Shores and Coco Beach is going to be offered as Strata Title ownership.
