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F
Property
T i tle Deeds in Cyprus
W
hen you purchase any property
in
Cyprus
it i s i m p o r ta n t t o
u n derstand the situation with title deeds. A Title Deed also known as a
‘C e r t i f i c at e
of
R e g i s t r at i o n
o f I m movable Property’ is the real p r o o f o f o w n e r s h i p.
or British buyers and many other countries in Western Europe it is a common assumption that when you buy a property your lawyer will ensure that the property is transferred into your name immediately after completion of the sale. The appropriate ‘Land Registry’ will be informed by your legal representative and your name will be recorded as the owner of the property you have recently purchased. If you have paid cash for the property you will receive the ‘Deeds’ to the property within a few weeks after the transaction has been legally registered. Alternatively if you have purchased the property using a mortgage then the relevant deeds will be deposited with the mortgage provider.
I
C
T
C
n Cyprus it can take many years for the new owner of a property to receive the Title Deeds. If you are buying a new property from a developer it could take many years until the whole project has been completed/sold before any deeds are issued to individual ‘new owners’.
his is why some buyers are attracted to purchase a property on the ‘resale market’ where the current owner already h as p o s s es sio n o f a t i t l e d e e d.
A Title Deed also known as a ‘Certificate of Registration of Immovable Property’
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lients from Eastern Europe, Russian Federation and China are fully prepared to accept this process as they have no previous experience of any Land Registry in their own countries. The sale agreement organised by a lawyer is recognised as the proof of ownership. yprus Property Marketing advises all buyers to consult an independent lawyer in Cyprus or a foreign lawyer who specialises in Cyprus property law, before completing the purchase on any property.