TITLE DEEDS GUARANTEE after paying in full over 4 years ago

[877462]

I paid the developer,in full, for my property over 4 years ago, which included a small mortgage of 25K cyp.from BoC and got the keys in nov 2004. and im very pleased with everything and the developer has done everything poss when problems arised. However last week (Jan 09), I got letter and bill dated 31-12-2008, saying that they require 1065 euros for 'TITLE DEEDS GUARANTEE' . I queried this with them and they said they( not me) have just received a bill from BoC and it needs to be settled by me. theres nothing on the contract of sale. and I certainly cant afford that sort of money . Any ideas what I should do? thanks graham

[Nigel Howarth]

Hi Graham - and welcome to the Cyprus Property Forum

I have not heard of anyone being charged for a 'Title Deed Guarantee' - this is something that the developer should have provided to you as security when you bought the property - and at his cost. If it is not mentioned in your contract of sale, I cannot see how you can be liable to pay.

I'd ask the developer for a copy of the bill he received from the Bank of Cyprus and see if you can get it translated. Your lawyer should be able to do this - and advise you whether or not you're obliged to pay. But as I say, I've not heard of anyone being asked to pay for this form of guarantee before.

Regards,