Cyprus Property Forum for Buyers, Sellers & Investors

I sent an email to the Land Registry asking them directly who should pay for lodging the assignment contract and have not had a reply. I will try again. I know I will never get this money back but I would still like to know exactly what should have happened just for my piece of mind. My solicitor says we should pay. You disagree. I found this article
http://www.news.cyprus-property-buyers. ... /id=009874
and not being a solicitor I cannot interpret this as clearly as I would like. However, it makes it clear that the sellers passes on all responsibilities once tax clearance is obtained (he did this) so does that mean he passed on the responsibility for filing the assignment? The article also says that the developer does not have to be involved. The developer who sold originally to our sellers - Aristo - were present at the Land Registry and had been dealing with our solicitors previously in respect of assurances of no loans mortgages etc. We all stood at the desk (Aristo rep, us, solicitor) when we were told that this payment for registering the contract had to be paid immediately before anything could proceed. Is there a definite answer to who should have paid or does everyone have this problem and it depends on the solicitor they appointed? Okay - off my soap box now - I will try the Land Registry again but holding out no hope.

Hi Bugsy,

I visited the Land Registry on Friday and got some information about their fees and charges - see http://www.news.cyprus-property-buyers. ... id=0016184.

"Registration (deposit) of an Assignment Agreement – increased from €1.71 to 0.5% of the sale price declared in the Contract of Sale being assigned or 0.5% of the price declared in the Assignment Agreement, whichever is the higher, up to a maximum of €3,000. The minimum fee for the registration of an Assignment Agreement is €50.00".

As for who is responsible for paying for depositing the contract, I would say it's the purchaser - as with a 'normal' contract of sale. But I guess the Land Registry doesn't really care as long as it gets the money.

Regards,

Nigel Howarth wrote: As for who is responsible for paying for depositing the contract, I would say it's the purchaser - as with a 'normal' contract of sale. But I guess the Land Registry doesn't really care as long as it gets the money.

Regards,

Nigel,

I don't agree, they buyer should pay the €50 to deposit the contract yes, but not the €2000 for the assignment. In that case he could insist the seller pay the cancellation charge, which comes down to the same thing. It is the seller that pays the assignment registration minus €50 that the buyer would have paid. Either that or let him get the title deeds.

That's my take on this.

This is exactly the problem. No one can say with certainty who should pay. It is not written down anywhere and is open to interpretation. Now I don't want you two to fight as you are both too valuable on here and a mob would be looking for me! I am letting it go now and will not let this affect my enjoyment of the villa - which, one day, will be my permanent home. X