St. Maarten Realtors deeply examine sale and lease agreements

POSTED: 02/20/12 12:42 PM

St. Maarten – Sale and lease agreements were the hottest topic at the recent first annual meeting of the Real Estate Association St. Maarten (Ram). The 40 realtors who attended the session at the Sonesta Great Bay Beach Resort peppered Peter van Dort of VanEps Kunneman VanDoorne with questions about the agreements and the discussions continued long after the allotted time had passed.

Van Dort is only one of three attorneys from VanEps Kunneman VanDoorne that was at the session. St. Maarten based attorney, Michael Druijts kicked off with an introduction to legal real estate structuring intended to demystify this often misunderstood topic where corporate entities are used to optimize real estate assets. Jeremy Leese, who is head of corporate and commercial law at Webster Dyrud Mitchell – a VanEps Kunneman VanDoorne associated firm with offices in Anguilla and St. Kits & Nevis discussed examples of real estate structures in practice. Leese’s presentation also led to lengthy discussions.

Ram plans similar information sessions in the near future with topics on tax legislation, permits and zoning issues, rental laws, and new laws which may impact the real estate industry.

“Overall I believe this event was an incredible success. The turnout was better than expected, and it seems like everyone is eager to have a follow up session,” owner of Island Real Estate Team and Ram’s president Arun Jagtiani said.

The recent session also allowed Jagtiani to give Rams 60 members from 20 companies an update on activities in the past year like providing parliament, the minister of finance, the central bank and the tax department with input from the real estate industry. Ram plans to have a follow up information sessions in the coming months to ensure all members are given the opportunity to have the most up to date information so they can provide their clients with educated advice, thereby improving the integrity of the industry.

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