Bermuda Real Estate Law and Regulatory Framework
The statutory core
Bermuda real estate practice is built on a small set of statutes: the Real Estate Brokers Licensing Act, which creates the licensing regime administered by the Bermuda Real Estate Council, the Land Title Registration Act, which governs the registered title system, the Conveyancing Act, which supplies default rules for deeds, covenants and completion, and the Bermuda Immigration and Protection Act together with the Real Estate Acquisition and Holding Act, which control who may acquire property and how much. Candidates must know that a licence is required to trade in real estate for reward, that a salesperson must act under a licensed broker, and that licensing status, continuing education and trust-account handling are all disciplinary matters.
Traps to watch
Questions often test the distinction between broker and salesperson authority, or between registered and unregistered land. Under the registered system, title is proved by the register rather than by a chain of deeds, but older unregistered conveyances still exist and require a good root of title. Another common trap is the restriction on foreign ownership: the statutory licence or permission requirement for non-Bermudians, and the differing treatment of residential versus commercial property. Do not confuse the Council's disciplinary powers with the courts'.
Rule of thumb
When a question describes someone "helping a friend sell a house for a commission", treat it as unlicensed brokerage unless the person holds a current licence through a licensed broker.
Worked example
A buyer asks whether a property's title is guaranteed. Because the land is registered, the register is conclusive as to ownership, subject to overriding interests and cautions; the answer is not that a deed search guarantees title.