Title Deed in Cyprus – review – Lawyers in Cyprus- completed on 26^th May 2010. http://www.lawcyprus.org

We have all been waiting patiently for the new Cyprus Title Deed legislation to be passed in the Cyprus House of Parliament, after already being passed by the Council of Ministers all we can do now is wait.

What can be said for certain is that under the new Title Deed Reform in Cyprus, potential buyers of Cyprus property can now visit any District Land office located in all areas of Cyprus and apply for information regarding the status of the property they are thinking of investing in.

However, there are certain requirements for this and that is the potential buyer must be able to prove they are serious about buying the property. This can be achieved by obtaining a specific document to be signed by the vendor/seller and then presenting it at the District Land office.

The District Land office will then conduct a search and advise on the Title Deed status of the development they are interested in buying. If it is found that the vendor/seller will not sign the document, the purchaser can take this as a sign that something is wrong.

This procedure costs very little and will accomplish peace of mind for the purchaser providing them with the knowledge their potential investment is a solid one.

This is a very good concept as now developers/vendors will have to be on their toes permanently.

We feel it is a great step to helping the Cyprus buyers and we cannot wait to see what else is in store for the Title Deed Reform.

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 26^TH MAY 2010.

This entry was posted on Sunday, June 13th, 2010 at 7:39 am and is filed under Cyprus Title Deeds. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.