Cyprus Property Lawyer

Cyprus property real estate services

How does Cyprus real estate get real? By thinking

about everything uniquely. Starting with you.

A Cyprus property lawyer is the first contact point before you consider purchasing a property in Cyprus. We emphasize this point continuously, throughout our web site, and on all our initial emails to clients our opening statement is:

**“Cyprus Property Lawyer - Before Purchasing”**

“The first piece of advice we offer all our clients is this: please contact a good lawyer in Cyprus before you do anything else. Why? Would you purchase a house/property in any part of the world without using a good lawyer? We all know the answer but ............... so many clients arrive in Cyprus and have not contacted a lawyer.

Please contact: Joanna Koukounis, Lawyer-Legal Consultant. E-mail:koukjoan@spidernet.com.cy

Joanna Koukounis is an independent lawyer who has no association with our company. Unfortunately, not all lawyers throughout the world are good people or good lawyers. Cyprus is no different. Joanna is both a good person and a good lawyer. Alternatively, please source your own Cyprus property lawyer/solicitor before you travel.”

Two Types of Cyprus Property Purchasers

There are two types of property purchasers: those who have contacted a Cyprus property lawyer and those who wished they had. Do not be in the latter category.

The Importance of using a Cyprus Property Lawyer

Why is it so important to contact a Cyprus property lawyer/solicitor for conveyancing your expected property purchase before you come to Cyprus?

Here are four dictionary definitions for conveyancing so we all understand this not-so-common word, and in case some people are not too sure of its full meaning regarding a property purchase and real estate.

The branch of law practice consisting of examining titles, giving opinions as to their validity and drawing up of deeds, etc., for the conveyance of property from one person to another.
The branch of legal practice dealing with the conveyance of property or real estate.
The act or business of drawing up conveyances (as deeds or leases)
The act of transferring property title from one person to another

The answer to the above question is ‘conflict of interest' and it does not matter in which country in the world you purchase a property, you need a lawyer whose sole and only interest is you. Only then will there be no conflict of interest.

When a builder/developer or real estate agent in Cyprus refers you to a lawyer, the lawyer has a conflict of interest through the referral.

We are not saying all Cyprus property lawyers who have clients referred to them cannot take care of you and your interests 100%. We do refer many clients to lawyers, banks, insurance companies, etc, all the time, as it is a part of our everyday work. However, as a result of serving many clients over the years, we only work with the best lawyers in Cyprus.

To repeat our last sentence on our initial e-mail to clients, as above. “Alternatively, please source your own lawyer/solicitor in Cyprus before you travel”

Points to consider when purchasing Cyprus Property:

Before engaging a lawyer, check they are a member of the Cyprus Bar Association

23 Loukis Akritas Street, Ayios Dhometios, CY-1508 Nicosia, Tel. 22-779 156.

http://www.cyprusbarassociation.org

Your contract of purchase must be deposited at the District Land Registry within 60 days of signing, creating a specific performance with the stamp duty paid.
A specific performance creates an encumbrance to be placed on the title deeds so the vendor cannot change his mind, sell, or take out a mortgage on the property during the period it takes to transfer the title to your name.
Your contract of purchase must include time-scales for the title to be transferred to your name and the consequences incurred by the vendor should this not occur.
The legal system in Cyprus is similar to British law but NOT identical.
All legal concerns must be checked thoroughly by your lawyer but you too should have a good understanding of the process.
Never sign any document or hand over any money without your lawyer's approval.
Make sure the vendor (seller) is the legal owner and there are no outstanding debts or memos relating to the property. A memo is a legal claim ‘encumbrance' on the property ordered through the court. A memo can be any debt owed to anyone that has not been paid. The court issues the memo against the property or land until the debt is paid. The property/land cannot be sold unless the debt is cleared. In most cases your lawyer will advise that the memo will be cleared when you purchase the property/land and the debt will be cleared by your lawyer as part of his legal brief. Only your lawyer can advise about each memo and its consequences. Most properties do not have memos placed on them. However, it does occur even though in most instances it is just routine procedure.
When purchasing an off plan, under construction or newly built property, make sure the vendor has the building and planning permits. Delays can occur due to local authorities and other reasons. Your lawyer needs to make provision in your contract for such contingencies.
All co-owners must sign the contracts of sale to avoid subsequent disputes.

The above points are the basics and the only way to protect yourself professionally is to appoint a Cyprus Property Lawyer for all your Cyprus property purchasing considerations.

Notes:

Specific performance: The performance of a contract as specified in its terms.
Stamp duty: A duty, or tax, imposed on paper and parchment, used for certain writings such as deeds, conveyances, etc., evidence of the payment of the duty or tax being a stamp.
Encumbrance: Law. A burden or claim on property, such as a mortgage.
Title deeds: A deed or document containing or constituting evidence of ownership.

For further information on Cyprus property lawyers contact us or please contact:

Joanna Koukounis - Lawyer - Legal Consultant - Paphos, Cyprus.

Tel: 00357-26944077 E-mail: koukjoan@spidernet.com.cy

Address: 32 Ellados Avenue, Marmel Building, Office 401-402, Paphos, Cyprus.

Tel: 00357-26944077. Fax: 00357-26944078.

Click below links for any information page.

Real Estate Agents in Cyprus - Transfer Tax-fees - VAT

Stamp Duty - Council of Ministers - Bank of Cyprus - Mortgages in Cyprus

Immovable Property Tax - Capital Gains Tax - Residence Permit in Cyprus

Cyprus Income Tax - Work Permit in Cyprus - Overseas Mortgages

Transfer Money to Cyprus

Andrew Sharpe, a British expatriate, has been living in Cyprus since 1977. He is married to a Cypriot and has four children. Thanks to the many years he has lived in Cyprus, he is able to offer a hands-on approach to the many unknowns that may await any prospective resident, providing a very relaxed helpful, information service for property sales. Cyprus property has offices in all the island's major towns, i.e. Nicosia, Limassol, Paphos/Pafos, Protaras, Larnaca/Larnaka and Platres. Details on property finance, property sales, laws on purchasing property in Cyprus. Regular web site updates.

E-mails replied to within 24 hours.

Cyprus Fax/Tel 0035725571715 Mobile 00357 99537985 E-mail andrew@cyprusprop.com

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Cyprus Property Information Pages -------------------------------------------------------------- Cyprus Property Information Pages