Legal Documents You Need to Know Before Buying Homes in a Borey

• 14 September 2021
• Property Focus
• 4596 Views

Partnered Article

Landed property, or known in Cambodia as a ‘borey’ in Khmer, refers to a gated community comprising various housing types including villas, shophouses, link houses and flat houses. This type of property is the most popular in Cambodia, thanks to its large space and relatively lower price compared to condominiums.

However, as buyers, what are the most important things you need to know before deciding to buy properties in a borey?

Apart from location, price and home design, one should also ask the borey developers to present five legal documents to ensure the project is trustworthy. Below are the five types of legal documents:

Company Registration: Development companies must register themselves with relevant ministries before launching their projects. Asking for legal company registration ensures that the project can proceed legally and you will not waste your time and money on it.

Construction Permit: The Ministry of Land Management, Urban Planning and Construction (MLMUPC) will issue only issue construction permits to borey projects that have proper design and good quality with other basic infrastructures such as water, electricity and sewage systems to support the development.

Borey License: After borey developers have met all requirements regarding build quality, design, sales plans and other necessary documents, the Ministry of Economy and Finance will provide a borey license to them. A credible developer generally has a proper borey license to show the prospective buyers.

Master Plan: The master plan is pivotal to each borey project, thus one must ask the developer for the project’s master plan which was approved by the MLMUPC. The developer can begin the construction only when the project’s master plan has been formally approved.

Ownership Title (known as Hard Title): Before buying properties in any borey project, you need to ask your developer about the master and individual hard title. The master title covers all pieces of land for the whole borey development while the individual title is subdivided for each residential unit. Make sure that your developer has legal documents to confirm both of these hard titles.

By Harbor Property

 

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