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Title Deed when Purchasing Cyprus Property

Posted on September 25, 2009

Unfortunately, title deeds when purchasing Cyprus property for a new build property will take on average up to five years to be issued and some can take 10 plus years. This is the normal practice in Cyprus and how the system works here and may seem very odd to the outsider, but this is how it works presently and for as many years as we can remember. Although there are plans from the government presently under discussion to amend the present laws and speed up the whole process.

Therefore all properties of five plus years old, will have or could their deeds but it is never certain when they will be issued. Estate agents have no control over the issuing of the title deed simply because we have no control over government offices. However, we always advise all clients that they must ask their lawyer in Cyprus to check and search all matters relating to any property and clients must be guided by their lawyer. And, it is the lawyers work to advise you accordingly and we also advise NEVER to take the advice of any estate agent on title deeds concerns. Why? Estate agents want to sell and unfortunately, many clients/purchasers do not contact a lawyer prior to contacting the estate agent and the agent will offer THEIR lawyer and contacts, which, in most cases, is OK but not in all. Also, developers who have the first contact with the client do keep the client/purchaser IN their group of contacts and this is NEVER good as it always involves a huge amount of 'conflict of interest' especially when the developer introduces the lawyer!

Personally, having lived in Cyprus for 33 years, we have no worries over the title deed issue or any matter relating to purchasing property as they system works well and one of the largest concerns we do face is the purchasers being naive and NOT contacting THEIR lawyers before they start looking at properties or even before they come to Cyprus.
Would you fly off to Spain or anywhere on the planet and buy a house costing 400,000 whatever's, and not have YOUR lawyer in place taking care you and only you. Answer, of course not. But..........so many purchasers in Cyprus do not do this and the last thought on their mind is their lawyer. And if a lawyer is on their mind, they want the cheapest one available!!!

The key and only way to purchase property in Cyprus, is to do your research, get to know as much as you can about the local property market (rules and regulations) and above all else find a local lawyer who you feel comfortable with and you totally trust. Sadly, so many purchasers do not go through this process as it takes time, work and a great deal effort but it is essential.

If you are thinking of buying a Cyprus property and you are concerned about the title deed or any issue, find YOUR lawyer first and there is nothing to worry over when purchasing a property without a title deed, as long as your lawyer in Cyprus advises accordingly.

Some pages and little research from our web site below, covering most points concerning purchasing property in Cyprus.


http://www.cyprusprop.com/information/p/property-lawyer/
http://www.cyprusprop.com/information/p/estate-agents/
http://www.cyprusprop.com/information/p/transfer-fees/
http://www.cyprusprop.com/information/p/property-vat/
http://www.cyprusprop.com/information/p/stamp-duty/
http://www.cyprusprop.com/information/p/council-ministers/
http://www.cyprusprop.com/information/p/property-tax/
http://www.cyprusprop.com/information/p/capital-gains-tax/
http://www.cyprusprop.com/information/p/purchase-contract/
http://www.cyprusprop.com/information/p/land-registry/
http://www.cyprusprop.com/information/p/making-will/
http://www.cyprusprop.com/information/p/title-deeds/
http://www.cyprusprop.com/information/p/final-approval/

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