Resale with title deeds

[Janet]

Hi Nigel

I thought I knew the answer to this question but the total opposite viewpoint has been expressed elsewhere.

I would have thought that if you bought a property with deeds you would still have to pay the Property Transfer Tax to have them transferred to your name. Is this correct or is the PTT only ever payable once on a property and if so, how do the deeds get transferred into your name?

Thanks
Janet

[Nigel Howarth]

Hi Janet

Property Transfer Fees are payable every time ownership of a property changes hands (you can think of it like the Stamp Duty in the UK) and the deeds are registered in your name.

I'd be interested to know where you read a different view.

Cheers,

[Janet]

Hi Nigel

It was on the Cyprus eastern forum on the Is Cyprus Expensive thread.

This is what was written in post number 68 by DAC.

*It's only payable again if you move house and buy another property that hasn't got it's T-D*

It didn't appear to be right to me but didn't want to get into a disagreement when I wasn't certain I was right.

[Nigel Howarth]

Thanks Janet,

I've posted a reply.

Cheers,