Economy Profile: Burundi - Doing Business

Doing Business 2013
Burundi
48
REGISTERING PROPERTY
What are the details?
The indicators reported here are based on a set of
specific procedures—the steps that a buyer and
seller must complete to transfer the property to the
buyer’s name—identified by Doing Business
through information collected from local property
lawyers, notaries and property registries. These
procedures are those that apply to a transaction
matching the standard assumptions used by Doing
Business in collecting the data (see the section in
this chapter on what the indicators cover).
STANDARD PROPERTY TRANSFER
City:
Bujumbura
Property Value: BIF 17,036,992
The procedures, along with the associated time and
cost, are summarized below.
Summary of procedures for registering property in Burundi—and the time and cost
No.
Procedure
Obtain a proof of title property at the Land Registry
Time to
complete
Cost to complete
1
The seller must give the original property title to the buyer for the
checking (or go with the buyer at the Departement des Titre Foncier).
The buyer asks the “Conservateur” at the “Registre des Titres Foncier” to
check if the property is indeed registered to the present owner. The
buyer also requests proof that the property is not encumbered by
mortgages, liens or other securities.
5 days No cost
2
The notary drafts the sale agreement and it is signed by both parties
Both parties sign a "compromis de vente" once it has been prepared by a
notary.
2 days
BIF 10.000 (drafting
fee) + BIF 7.000
(original) + BIF
3.000/page (4 pages)
The buyer and seller both obtain a Tax Clearance Certificate from
the Municipality
3
Both parties need to obtain a tax clearance certificate from the
municipality proving that all city-level taxes are paid. The certificates are
obtained from the same person at the municipality for both parties and
they can be obtained at the same time. Both parties must be present at
the municipality to request tax clearance certificates on both. The
completed certificates will have to be submitted to the Land Registry
when placing the request to transfer property.
2 days 20.000 BIF
* The buyer requests transfer of the property at the Land Registry
4
The buyer goes to the Land Registry ("Departement des Titre Foncier")
with the compromis de vente and the property title. The Land Registry
will send the documents to the Ministry of Finance for price verification.
An expert is designated by the Ministry of Finance to check whether the
price in the sales contract is the correct one. The buyer or seller will have
10 days
(simultaneous with
procedure 5)
No cost