"Title deeds ready"

[slates]

Hello Nigel, please could you advise.... We are looking at a few properties in Paphos with the intention of buying one. The Estate Agents are telling us "the title deeds are ready". With the situation as it is at the moment in Cyprus we are asking for the property to have full title. Both Estate Agents say we are to pay for the Title Deeds. Is this standard practice?
Why are property owners not forced to pay for their title deeds if the are in fact ready?

[Nigel Howarth]

Hi Slates,

When a property changes hand in Cyprus the purchaser(s) are required to pay 'Property Transfer Fees' when the transfer of ownership takes place - this is the local equivalent of the Stamp Duty Land Tax (SDLT) that purchasers pay in the UK.

The actual cost of Title Deeds is a few Euros, what the Estate Agents should be advising you is that Property Transfer Fees are payable.

You can read more about these fees and how they are calculated on my website at Property transfer fees.

Regards,

[Pantheman]

Hello Nigel, please could you advise.... We are looking at a few properties in Paphos with the intention of buying one. The Estate Agents are telling us "the title deeds are ready". With the situation as it is at the moment in Cyprus we are asking for the property to have full title. Both Estate Agents say we are to pay for the Title Deeds. Is this standard practice?
Why are property owners not forced to pay for their title deeds if the are in fact ready?

Dear Slates,

whether the original owners paid for them or not, means you STILL have to pay to have them transferred to you. The Title deeds are not just handed over like a log book for a car.

The original owners are bypassing payment, because the (stupid) system allows them to. It's good luck to them, you make no saving by them paying form them initially, as you still have to pay to transfer to your names.

Hope that helps.

[slates]

Thank you both for the information.
I have one more question. My mother bought a property in 2007. The developer died 2 years ago leaving everything to his daughter who lives in the U,K. She is very difficult to get hold of and when we do manage to contact her she says there is nothing she can do for us. Is there a department at the land registry offices that we can go to so we can at least pay this years IPT?

[Nigel Howarth]

Hi slates

I could be that your late developers Will is still going through probate? Regarding your IPT payments, I suggest you call the relevant helpline - they should be able to advise you:

Nicosia – 22807488, 22807277
Limassol – 25803700, 25803746, 25803878
Larnaca- 24803658, 24803655
Famagusta/Paralimni – 23811458
Paphos – 26804342, 26804337

I suggest you have your passport and sale agreement to hand.

Regards,

[slates]

Thank you once again for your kind assistance!