Article 2.2.4 Transfers, Transmission and Dealings

(a) Title Transfers by Registration:

(i) Title to real property shall transfer upon registration in the ICT Land Registry. No legal title passes by mere execution of an instrument unless and until registration occurs, except as otherwise provided under this ICT Code.

(ii) The act of registration confers legal ownership by operation of law, subject to any limitations or conditions set out in the ICT Land Registry or applicable regulations.

(iii) This principle applies to voluntary transactions, transmissions by law, court vesting orders, and other recognised modes of acquisition.

(b) Electronic Execution and Lodgement:

(i) All transfers and dealings shall be effected using instruments approved and executed in accordance with this ICT Code and any supplementary ICT Land Registry regulations or guidelines .

(ii) Instruments shall be in electronic form, lodged through designated digital platforms or portals approved by the Operator.

(iii) Instruments shall be signed as prescribed by the Operator using digital signatures or identity-verified execution methods.

(iv) The Operator may authorise digital custodians, legal representatives, or registered intermediaries to prepare, execute, or lodge instruments on behalf of transacting parties, subject to identity verification and compliance rules.

(c) Voluntary Transfers:

(i) Voluntary transfers of registered interests shall be documented in an transfer instrument which meets the requirements of the ICT Land Registry, identifying the transferor and transferee, the nature of the interest, and any conditions.

(ii) Instruments shall be lodged by the registered proprietor or their authorised agent.

(d) Transmission by Operation of Law

(i) Where title passes by operation of law (e.g. inheritance, bankruptcy, corporate succession), the transferee shall apply to the ICT Land Registry to be recorded as the new registered proprietor.

(ii) Applications shall be supported by appropriate evidence (e.g. probate, letters of administration, insolvency orders).

(iii) Transmission shall not affect the nature or priority of the interest, unless otherwise ordered by an ICT Court or the ICT Land Registry.

(iv) Where title vests in a successor by reason of merger, amalgamation, or corporate restructuring, the successor shall apply for registration on submission of documentation evidencing such succession.

(e) Vesting by ICT Court or Regulatory Instrument:

(i) An ICT Court may issue a vesting order transferring title or interest, which shall take effect upon registration in the ICT Land Registry. Such orders may arise in cases of judicial sale, bankruptcy, trust reorganisation, or as a remedy under this ICT Code.

(ii) Vesting may also occur pursuant to a regulatory instrument or notice issued by the Operator or other competent ICT authority acting under powers conferred by the ICT Code.

(iii) For the avoidance of doubt, no Host Country instrument or law may effect a vesting of ICT-registered land unless expressly permitted by the ICT Establishment Law or recognised under Part 5 of this ICT Code.

(iv) Instruments effecting vesting shall be submitted to the ICT Land Registry and registered in the prescribed format to have legal effect.

(f) Dealings Pending Registration:

(i) Dealings that have not yet been registered may have limited legal effect and shall not bind third parties unless otherwise protected by caveat, priority notice, or other legal mechanism under this ICT Code.

(ii) The Operator may prescribe mechanisms to protect pending dealings or provide for conditional registration.

(iii) Unregistered dealings may give rise to equitable interests enforceable between the parties, but shall not affect the title of a registered proprietor unless protected by a caveat, notice, or other recognised mechanism under this ICT Code.

(iv) The Operator may implement a system of priority notices, caveats, or other protective entries to preserve the priority of intended transactions prior to registration.

(v) An equitable interest created by an unregistered dealing may be extinguished or overridden by the registration of a competing legal interest unless protected by a caveat, injunction, or statutory override.

(g) Correction or Withdrawal of Instruments:

(i) Prior to registration, a lodged instrument may be withdrawn or amended upon application by the lodging party, with consent of all affected parties and in accordance with ICT Land Registry rules.

(ii) Once registered, a transaction may only be altered through new dealings, rectification procedures, or an ICT Court order.

(iii) The ICT Land Registry may reject or cancel the registration of an instrument where it does not comply with the formal or substantive requirements of this ICT Code, is incomplete, or is manifestly unlawful or fraudulent.

(h) Certification and Verification of Instruments:

(i) The Operator may issue, or may designate the ICT Land Registry to issue, supplementary regulations prescribing:

(ii) Requirements for attestation, certification, or legal verification of instruments;

(iii) Procedures for remote execution or e-notarisation;

(iv) Standards for authenticating parties’ capacity and authority to transact.

(v) An instrument that fails to meet these standards may be rejected, suspended, or made subject to further due diligence prior to registration.