Cyprus Property Forum for Buyers, Sellers & Investors

My parents made their wills in Cyprus for their estate in Cyprus (house). They both bought that property from a developer in Paphos a couple of years ago. There are no title deeds, the project is mortaged by the developer. The contract of sale is registered to the Land Registry Office. My mother died and my father is the beneficiary. Our lawyers issued a Grant of Probate. The executor is also a lawyer from their firm. We are told that there are two solutions in order to transfer the share of my mother:

1. To sign a cancellation agreement and lodge a new contract of sale between the developer and my father. Then the title deeds will be issued only into the name of my father. The probate will be finalized earlier.

2. To wait until the title deeds are ready; the title deeds will be issued on the names of my father and the executor and the executor will tranfer the share to my father. Then the probate will remain open until the issue of the title deeds and the tranfer.

For the first solution, the developer wants cancellation fees (10.000 euros!!!!).

We do not know what we must do! Can the title deeds be issued on the name of the executor without the participation of the developer? We do not need the developer to sign anything, as every signature of them means money!


Thank you.

Dear JaneDoe,

I am sorry to hear that your mother has passed away and my apologies for the delay in replying, I have only just spotted your question.

I would do nothing until you have looked into things a bit further - and I suggest that you seek advice from another lawyer on how best to proceed (I will send you a list).

Option 1 - to cancel the agreement and lodge another is a non-starter. The developer trying to charge you €10,000 for this is trying to exploit the unfortunate position in which your father finds himself.

Option 2 - I can see no reason why the title deeds need to be registered in the name of your father and the lawyer acting as your late mother's executor. When the deeds are issued, transfer of your late mother's share of the property can be transferred directly to your father without the need for it to be registered in the executor's name first.

Regards,

Hey Nigel,
I am confused about a question.. My father has properties in two countries both in Cyprus and US. I just wanted to ask that after the death of my father is we will be eligible for both the properties of just one property will be considered in the probate process?
Thanks

Hi juderaymond,

Was you father born in a British Commonwealth country other than Cyprus?

If so he can leave his property in his Will to whomsoever he wishes. But if he was born anywhere else the division of his estate in Cyprus will be dictated by the Cyprus laws on inheritance.

It would reduce delays if your father had a Will in both countries covering his estate held in those countries.

I do not know how things work in the States. But if he was in the UK and had just the single Will, probate would have to be granted in the UK first and then a process known as resealing enables the Will to recognised in Cyprus and probate granted here. But bearing in mind the costs of resealing, it's probably less expensive to have a Will in both countries and it also speeds up the granting of probate.

Regards,

juderaymond wrote:Hey Nigel,
I am confused about a question.. My father has properties in two countries both in Cyprus and US. I just wanted to ask that after the death of my father is we will be eligible for both the properties of just one property will be considered in the probate process?
Thanks

[links removed - please see http://www.cyprus-property-buyers.com/f ... hp?f=1&t=4 ]

As far as i am concerned you are eligible for both the properties and if you bit confused you must consult with with your Probate lawyer.

Anne Saxton wrote:As far as i am concerned you are eligible for both the properties and if you bit confused you must consult with with your Probate lawyer.

Not necessarily - Cyprus has a system of forced heirship, which effectively prevents the deceased disinheriting close family members.

Until 3rd July this year the law included a concession for persons who/or whose fathers were born in the UK or in a Commonwealth country. Providing they had made a Will, such persons were allowed to leave their Cyprus assets to whom they wish on their death.

For EU nationals a regulation on succession which came into force on 17 August this year to stet whether the law of their nationality that of residence applies to their estate.

And please do NOT try to advertise your services on this forum.

Regards,