:: Acquiring Property ::

When buying property for sale in Cyprus, it is absolutely essential that your Contract of Sale provides for the 'Transfer of Title Deeds' to your name. You are not considered to be the legal owner of the property that you have paid for until this Transfer of Title has been completed.

Title is a legal term for an owner's interest in a piece of property. In Cyprus Title Deeds, which are also know as "Certificates of Registration of Immovable Property", are formal documents that serve as evidence of ownership. Conveyance of this document is required to transfer ownership of the property to another person.

Cyprus is one of the few countries in the world that has an effective land registry system in which all ‘immovable property’ (a term that refers to both land and property) is registered. Title Deeds for all properties within a particular district are held in a local District Lands’ Office (DLO).

As well as acting as a depository for Title Deeds, the DLOs play a key role in their management. For example:

When a property is constructed or demolished the DLO updates the associated Title Deed to reflect the changes made.
When a parcel of land is split into a number of smaller plots, the DLO withdraws the Title Deed for the parcel and replaces it with Title Deeds for each of the individual plots.
When a property owner takes out a loan using his property as collateral, the DLO places what is known as an ‘encumbrance’ (a claim on the property by another party) on its Title. Once the debt is repaid, the DLO removes the encumbrance. Encumbrances can be placed on a Title for many reasons and it is important to note that while any such encumbrance in place, the property cannot be transferred to a new owner.
When property ownership is transferred from one person to another, the DLO undertakes the final stage of the conveyancing process.

Until you have become the legal owner of the property, your hands will be tied as to what you can do with it. For example you may have to seek permission from the owner if you wish to sell the property, make structural changes, or even rent it to holidaymakers.

When buying property in Cyprus, it is absolutely essential that your Contract of Sale provides for the transfer and registration of the property into your name through the conveyance of its Title Deed.

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