If you have been spending sleepless nights worrying about how to acquire a title deed for your gorgeous Cypriot property, rest easy.
With the enactment of the long-awaited 'Trapped Buyers' law you can apply for and receive your title deed in short order.
Note: This is provided your property sale contract was registered in the District Land Office (DLO) before December 31st 2014.
The steps to apply are fairly simple:
- Complete a Title Deed application form.
- Attach the receipt you received when registering your sale contract.
- Attach supporting documentation (Eg: proof that you have paid the purchase price for your new Cyprus house).
- Pay the requisite fee of €10 at your nearest DLO and file the application.
Now sit back and relax while the DLO reviewing your application is satisfied all pre-defined conditions are fulfilled. Once this stage is complete, you will receive a notice to pay property transfer fees within 60 days.
If you are lucky enough to get this done by 31st December 2016, you will receive a 50% or better still 100% reduction (if you paid VAT on the purchase price) and the title deed transfer is initiated.
A short while later and Voila!! you are the proud possessor of a title deed mentioning you as the owner of your deluxe Cypriot apartment
Any buyer who has yet receive the Title Deed to the property they purchased may apply for its Title Deed regardless of whether its Title Deed has been issued; the fact that there may be mortgage etc. preventing its transfer is immaterial.