Cyprus Title Deeds Review – completed on 26TH January 2010 by A&G Kouzali International Property Lawyers based in Paralimni Cyprus.
We are very excited about the 5 new Legislations being passed to upgrade the procedure of issuing Cyprus Title Deeds. After we analyzed the process, we found there will be 3 new types of Title Deeds that will be issued.
The Title Deeds will be issued and titled under a certain criteria the first one being titled ‘CLEAN’ which will indicate no infringements have been made and all is according to plan.
The second Title Deed will be titled ‘INCOMPLETE’ which will indicate minor breaches incurred and finally the third Title Deed will be titled ‘LIMITED’ which will state major violations have occurred and the property can not be sold until these violations have been rectified.
Property investors in Cyprus can also apply directly to the Land Registry Manager for their Title Deeds if the developer is not performing his duty and taking appropriate action, purchasers do not have to wait. The Land Registry Manager will then investigate the matter and decide whether to issue the Title Deed. This is called a ‘SPECIAL EXECUTION TITLE DEED’.
Also under the new legislation, the developer will be penalized if it is seen they are in breach of contract or is not performing his due diligence towards the issuing of Title deeds.
Cyprus is on the up and up, and with so much going on 2010 is going to be a fantastic year for our magical Island.
Visit us at www.lawcyprus.org
PUBLISHED BY A&G KOUZALI LAW OFFICE ON 26TH JANUARY 2010.
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