Selfie Quadcopter Conquers Guyana.
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In real estate, a 'gift deed' is a notarized document that transfers ownership of property to another person. Gift deeds are only used when there is no payment or compensation for the property that is being transferred.
Gift deeds are most often used for transferring property between relatives and friends. The person who is gifting the property is known as the "donor," while the person receiving the property is deemed the "recipient." A gift deed becomes irrevocable once it has been given to the recipient and receivers of such property are required to claim the gift on their federal income tax form.
The value of real estate in Guyana depends on the location of the property, its size and the type of property. There are three types of properties in Guyana: state- and government-owned land, titled land and industrial estates. Government- and state-owned land is often leased.
Properties that are in and around major cities like the capital Georgetown are higher priced. A four bedroom, four bath house near the city costs approximately $350,000 U.S. dollars. This is the equivalent of 72.5 million Guyanese dollars (GYD). A five-acre plot of land located about 20 miles from the capital sells for approximately 2 million USD or 412.3 million GYD, as of 2015.
Foreign investors can acquire land in Guyana and get the same treatment as citizen landowners. Real estate taxes in Guyana include 0.5 percent stamp duty, 20 percent capital gains tax and 33.3 percent income tax.
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