transfer of property rights

Questions about selling property
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suenat1
Posts: 20
Joined: 23 Jun 2010 14:43

transfer of property rights

Post by suenat1 » 20 May 2011 12:00

hi

I wonder if anyone out there knows how Cyprus law
works with regard to transfer of propery my father in law
who was Cypriot owned a flat in Cyprus in his own name
he has since passed away and my mother in law is having
difficulty in selling this as she has been told this does not
actually under Cypriot law transfer to her as it would in the
uk he is survied by a son and daughter would the property
transfer to either of them.
could anyone shed any light on this

suenat1



Nigel Howarth
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Re: transfer of property rights

Post by Nigel Howarth » 20 May 2011 13:20

Hi Sue,

As you late father-in-law was Cypriot the inheritance laws of Cyprus prevail.

Under Cyprus Law there is a system of forced heirship. E.g. If a person dies leaving a spouse and a child then ¾ of the estate passes to the spouse and child in equal shares and the testator (the person making the Will) has the freedom to dispose of the remaining quarter share as they wish. However, currently under Cyprus law, there is a concession for persons who/or whose fathers were born in the UK or in a Commonwealth country. Providing they have made a Will, such persons are allowed to leave their Cyprus assets to whom they wish on their death.

So your mother-in-law owns a share of the property along with their son and daughter. To overcome this problem, the son and daughter need to relinquish their rights to the property in favour of their mother.

Regards


Nigel Howarth
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