A Look at Transfer of Immovable Property in Cyprus

If you are planning on buying a home abroad in Cyprus you may be shocked to find out that it can sometimes take years before you actually receive your title deed to the property. If you are going to buy a home overseas in Cyprus, or even if you already have and are wondering where your title deed is, you should familiarize your self with how the Cypriots transfer immovable property as it is likely to be very different from the way things are done in your home country.

Assuming that you have used a lawyer for your property buying process, the lawyer will be notified when the new title deed is available. Upon getting this notification the lawyer should apply to legally transfer the property from the seller's name to your name (the buyer). Remember that is can be a few months to a few years between signing your sale contract and getting the title deed. There are several things that must be done before you can get your title deed.

You will need to complete form N270, which is the Declaration of Transfer form. The title deed from the seller will need to be attached to this. You will also need to have a copy of your permission from the Council of Ministers. You will need the sale contract and a completion certificate, also known as the final certificate of approval. You will only need this certificate if you have bought a home off plan. You will also need to present receipts for your payment of all fees, taxes, charges and other applicable costs. You will need to give all of these items to your lawyer and they will be attached to the Transfer of Immovable Property application that you will get at the Lands Office.

Once the new title deed is available it needs to be signed by the buyer and the seller or their respective parties acting on their behalf. You many here the title deed is also called a certificate of registration. The title deed must be signed at the Lands Office and no one can sign it until they have presented proper identification. An identity card or passport will suffice for proper identification. If you do not want to be present when the new title deed is read, signed and witnessed you can sign a power of attorney to allow your lawyer or someone else to represent you in the proceedings. Remember if property is purchased in more than one name that each person named will need to sign the new title deed. In this instance, this could be overcome by the other parties signing a power of attorney to name one person to go and sign the document. Typically this happen when a husband and wife buy property together.