transfer title deeds

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BURKEB3
Posts: 6
Joined: 07 Dec 2016 20:31

transfer title deeds

Post by BURKEB3 »

Everyone,

I have been told that the developer can organise the transfer of my title deeds in January (waiting more than 10 years ) so I want to make sure that I have everything organised so that there will be no delays or obstacles to the transfer.
Can someone tell me exactly what documentation I will need to provide for the transfer.
The developer has only mentioned property tax and municipality taxes but I have read that I may need a tax clearance cert and as I am not a Cypriot citizen (I am an EU citizen) I don't have this.
I would appreciate any advise and help,

Many thanks
Nigel Howarth
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Re: transfer title deeds

Post by Nigel Howarth »

Hi BURKEB3 and welcome to the forum.

You can find a description of the transfer process and the documentation needed in the Department of Lands & Surveys Citizens Charter (pages 45 and 46). The receipts needed are listed on page 45.

Assuming you've paid them you will need a receipt for:
  • Immovable Property Tax (you should have paid these directly to the Tax Department for 2014, 15 and 16).
    The Municipal 'town rate' (local property tax).
    Sewerage Board Tax.
In some cases the sewerage charges are included with the bill for the municipal/community local property tax.

You will also need to take your passport and cash/plastic to pay the Property Transfer Fees (assuming you're liable to pay these.)

Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
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BURKEB3
Posts: 6
Joined: 07 Dec 2016 20:31

Re: transfer title deeds

Post by BURKEB3 »

Nigel,

I appreciate your quick response and info is very helpful. I am one of these silly people who did not lodge their contract with the land registry so I would like to think that I will get it right this time. I will be eligible for transfer fees but hoping I will only have to pay the 50%.

Do you know if I can pay the sewerage and local tax on line?

Many thanks,
Pantheman
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Joined: 26 Jan 2008 14:44
Location: Famagusta District
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Re: transfer title deeds

Post by Pantheman »

BURKEB3 wrote:Nigel,

I appreciate your quick response and info is very helpful. I am one of these silly people who did not lodge their contract with the land registry so I would like to think that I will get it right this time. I will be eligible for transfer fees but hoping I will only have to pay the 50%.

Do you know if I can pay the sewerage and local tax on line?

Many thanks,
If you did not lodge your contract with the land registry, you have a big problem.

Firstly, the LR cannot transfer to your name as you are not officially the owner of that property.

You will have to draw up another contract and get that deposited, you should seek immediate legal advice on this.

You other payments are the lest of your worries.
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BURKEB3
Posts: 6
Joined: 07 Dec 2016 20:31

Re: transfer title deeds

Post by BURKEB3 »

Pantheman,

Developers have told me that it's only a matter of them confirming that there are no outstanding taxes on the property and they will then bring me down to deeds office and have the title deeds issued in my name.

do you think that I will have difficulties?

regards,
Nigel Howarth
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Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
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Re: transfer title deeds

Post by Nigel Howarth »

BURKEB3 wrote:do you think that I will have difficulties?
Yes - As Pan has said as your contract has not been lodged at the Land Registry, you will need to get another one drawn up a.s.a.p and have it deposited at the Land Registry.

(Unfortunately the contract you have that was not deposited at the Land Registry cannot be deposited because it's too old.)

Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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BURKEB3
Posts: 6
Joined: 07 Dec 2016 20:31

Re: transfer title deeds

Post by BURKEB3 »

Thanks Guys,

I did try to get them to issue a new contract after I first discovered my mistake (many years ago) but they wouldn't do it.
I will go back to developer (not something I look forward to) and see if they will issue one now. I believe law has changed now so I should be
able to get a replacement at no cost.
Do you think this will affect the cost of the transfer?

Regards,
BURKEB3
Posts: 6
Joined: 07 Dec 2016 20:31

Re: transfer title deeds

Post by BURKEB3 »

p.s. can I lodge the contract a day or two before the transfer
Nigel Howarth
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Joined: 24 Oct 2007 14:38
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Re: transfer title deeds

Post by Nigel Howarth »

Hi BURKEB3

I'm not aware of any changes in the law that will enable you to get a new contract at no cost.

A problem may arise at the time of the transfer because the Land Registry will assess the market value of the property at its date of purchase (i.e. the date on the contract) to calculate the Property Transfer Fees. As you bought the property more than 10 years ago, its market value today may be more than you paid. If this is the case you will have to pay Property Transfer Fees on the purchase price and today's market value.

You may be able to get around this problem by gathering up utility bills (which should be in your name) from the date you accepted delivery of the property as evidence that you purchased the property many years ago.

Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
BURKEB3
Posts: 6
Joined: 07 Dec 2016 20:31

Re: transfer title deeds

Post by BURKEB3 »

Nigel,

I was under the impression that the Developer can no longer refuse to issue a new contract (as previously happened) with no expense involved but from your comment this must not be the case.

I must admit that I would just pay the extra fees for the title deeds if I can avoid any more hassle. If I go the route on not getting developer to issue new contract, apart from the extra charges on the property transfer are there any other disadvantages?

Best regards,
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