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Selling: with or without title deeds?

Posted: 18 Aug 2017 14:41
by Topdriver
After 10 years in Cyprus I have now been told that title deeds for my property are now available, although I have heard nothing from the developer.
However, I now have a buyer for my property and after much research I am still totally confused with regard to the issuance of the title deeds and the cost of getting them. Can anyone help with answers to the following...
1. How much can I expect the transfer fee to be on a property originally purchased for £CY152,000 (€259,707) and owned jointly with my wife.
2. If I obtain the title deeds before selling the property, will the buyer then have to pay a further transfer fee to register the title deeds in his name based on the selling price?
3. If this is the case would I be better advised to sell the property WITHOUT the title deeds (ie through the developer) and agree with the buyer to share the ultimate cost of transferring the deeds to him.
I would be grateful for any meaningful advice on this issue.

Re: Selling: with or without title deeds?

Posted: 18 Aug 2017 21:18
by Paulinegaye
No one in their right mind would want to purchase a property that came with no Title Deeds. From what I have read, the land registry evaluate the cost of the propery and charge accordingly.

Re: Selling: with or without title deeds?

Posted: 19 Aug 2017 00:45
by Nigel Howarth
Hi Topdriver and welcome to the forum

I think you're talking about Property Transfer Fees - the local equivalent of the Stamp Duty Land Tax (SDLT) that a purchaser pays to the government when purchasing a property. Each time the ownership of a property is transferred to a new person, Transfer Fees are payable.

If you paid VAT on the purchase price, no Transfer Fees are payable. If you did not pay VAT when you purchased, your Transfer Fees will be reduced by 50%.

As your Title Deeds are available, Transfer Fees will be paid to transfer the property into the names of yourself and your wife. Your purchaser will then have to pay the Transfer Fees to transfer ownership of the property to his/her name.

The Department of Lands & Surveys has an online Transfer Fee calculator at ... rFees.aspx


Re: Selling: with or without title deeds?

Posted: 19 Aug 2017 15:29
by Topdriver
Thanks Nigel, that's very helpful.

Re: Selling: with or without title deeds?

Posted: 30 Dec 2018 16:43
by Mag
This is a related query and wondering if you can help. Myself and my husband had an offer accepted on an apartment that apparently has the title deeds but with the developer not the seller. The developer has apparently just got them through. The agreement is that the title deeds will pass to us on completion date therefore bypassing the seller. The whole area of title deeds is confusing and just wondered if this would be an ok situation to accept? I have a very reputable lawyer in place so I'm sure they will check ity out. But any help and advice would be much appreciate. Thanks.