What is the title deed and why you need it when you are buying property.

What is the title deed and why you need it when you are buying property.

What is the title deed.

Title deeds in Cyprus refer to the Certificate of Registration of Immovable property, issued by the Land Registry, which serves as conclusive evidence of property ownership. These deeds contain details about the property’s location, reference number, and size.

While all land in Cyprus has a title deed, issues arise when the land is developed into buildings or apartments. The process involves obtaining permits from the planning and building authorities. If a separate title deed has not been issued for a specific house or apartment, there will still be a title deed for the land under the developer’s name. In such cases, the purchaser should have the agreement lodged with their lawyer.

Check if the property you are buying has a title deed.

There are three main reasons why some properties in Cyprus lack a separate title deed.

The first reason is related to development problems, such as incomplete actions or not following construction guidelines, which require legalizing structural changes or completing outstanding actions.

The second reason is developer-related issues like unpaid taxes or mortgages, requiring the property owner to file applications for a separate title deed and its transfer to their name. This process typically takes 18-24 months.

The third reason could be delays from the Land Registry or other governmental departments in issuing separate title deeds.

Is it safe to buy a house in Cyprus without title deeds?

It is possible to buy a property in Cyprus without a separate title deed, but proper due diligence is essential to understand the reasons behind the absence of the deed.

Factors to consider include the selling price and the intended use of the property (e.g., rental). Each buyer should carefully assess the reason, price, and intended use before deciding to purchase a property without a separate title deed.