Why LMAP the Safest and Most Transparent Titles in Cambodia?
Before investing in property in Cambodia , it is important that you have a clear knowledge of each land title so that you stand a good chance to gain from your investment. Land titles in Cambodia are divided into four: soft titles, hard titles, strata titles and LMAP.
Today Harbor Property , the leading real estate portal in Cambodia, will give details of what LMAP is. LMAP stands for Land Management and Administration Projects which was first approved in 2002 by the Royal Government of Cambodia with the goal of using an efficient system to register properties and to protect local property owners.
LMAP is the safest and most transparent titles compared to the other three titles because GPS system is used to determine each plot of land and all land disputes are resolved before LMAP is issued by the ministry of Land Management, Urban Planning and Construction (MLMUPC).
The application process for LMAP is expected to take 12 weeks to complete and landlords are required to bring some proper documents to the cadastral office and then MLMUPC will check whether or not those documents are correct.
Landowners are not required to pay for the service fee for LMAP as MLMUPC is responsible for implementing and issuing this title for the citizens. However, if you apply for or transfer LMAP, it is compulsory that you pay a 4 percent tax fee.
Looking to buy, sell and rent properties quickly, visit Harbor Property -the Leading Real Estate Portal in Cambodia. Contact us: 855 967876902/ 855 6688663
Source : Harbor Property
