Guide to Family Co-Ownership of Property in Saint Lucia
When purchasing property in Saint Lucia as a family, you have a few options for how ownership can be structured. Choosing the right one will depend on your goals for succession, management, and flexibility.
1. Joint Tenancy
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All parties hold equal rights to the property.
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If one owner passes away, their share automatically transfers to the surviving co-owners (right of survivorship).
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Common for spouses or close families who want seamless succession.
2. Tenancy in Common
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Each owner holds a specific percentage share (e.g., 50/25/25).
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Shares can be unequal and can be transferred or inherited independently.
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Ideal if family members are contributing different amounts or wish to pass their share to their own heirs.
3. Company Ownership
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The property can be registered under a family company.
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Each family member holds shares in the company rather than direct title to the property.
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Provides flexibility for succession planning, tax structuring, and resale.
Other Considerations
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All owners’ names (or company details) must appear on the Deed of Sale.
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Each person will need to provide ID, proof of address, and a local Taxpayer Identification Number (TIN).
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Legal advice is recommended to determine which structure best suits your family’s long-term intentions.
