Cyprus Property Forum for Buyers, Sellers & Investors

Hi

I am joint "owner" of a property with my ex husband. Our title deeds have been available for over a year but he refuses to purchase them (this is one of many problems I have with him).

I can't afford to buy him out of the property even though there is little or no actual equity (Swiss franc mortgage!) as I cannot manage the mortgage payments on my own.

What implications does this have? I can't understand why he would not want to buy these!

Thanks.

Hi moneypitbylm and welcome to the forum.

These are the Property Transfer Fees - the Cyprus equivalent of the Stamp Duty Land Tax (SDLT) that is paid in the UK when someone buys a property.

I think you should speak with your lawyer on how best to handle this situation. If there is no equity in the property and you cannot pay the mortgage on your own, it may be worth considering dumping the property on your ex as part of your divorce settlement.

The implications are that you are not considered to be the owner of the property until this tax has been paid - and the developer will continue to charge you immovable property tax until the fees are paid.

Regards,

Thanks Nigel. We divorced 5 years ago and I tried that back then but he wouldnt so the property was dealt with in the consent order at a time when there was equity. We both have to pay half costs until sold which is looking extremely unlikely. I have offered the property to my ex for nothing on several occasions but he will not take up the offer.

Is there any reason why he shouldn't buy the title deeds? He said he had been advised not to.

moneypitbylm wrote:Is there any reason why he shouldn't buy the title deeds? He said he had been advised not to.

I can't think of any reason why he should not pay Property Transfer Fees (apart from trying to save a bit of money) - or perhaps he doesn't want anything more to do with it. Until the fees are paid, the property is not legally yours.

Regards,

moneypitbylm wrote:Thanks Nigel. We divorced 5 years ago and I tried that back then but he wouldnt so the property was dealt with in the consent order at a time when there was equity. We both have to pay half costs until sold which is looking extremely unlikely. I have offered the property to my ex for nothing on several occasions but he will not take up the offer.

Is there any reason why he shouldn't buy the title deeds? He said he had been advised not to.

Jeez, after all the aggro people are going through to get their deeds .... this!

If neither of you want the property, just give it to me and I'll pay the transfer fees

You're welcome to it, if you can take on the Swiss Franc mortgage!