# Title Deeds



## Pretty Flower (Mar 15, 2009)

Hi

Could someone please explain to me what has happened over the title deeds problem? As we are coming out end of July to find a home either resale or new and I dont really understand what is going on.

Do you not get the Title deeds when you buy a house? Or have a new build?

Well thats what I thought would of happened.

If anyone could give me information I would appreciate it very much.

Dont want to do something that we then regret later on.

Many thanks


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## Veronica (Apr 5, 2008)

Pretty Flower said:


> Hi
> 
> Could someone please explain to me what has happened over the title deeds problem? As we are coming out end of July to find a home either resale or new and I dont really understand what is going on.
> 
> ...



The title deeds problem is very long standing andthere are talks to try to sort it out.
However, although it is always better to have a place with title deeds as long as you are careful andmake sure that there is no money owing on the land your property stands on once your solicitor has registered the property in your name at the land registry you get a document called a "specific performance'.
This safeguards your interest and if whoever hold the title deeds tries to get a loan on the land they are committing fraud and can be arrested.

Veroncia


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## BabsM (May 24, 2008)

The legal system for buying property in the Repbulic of Cyprus here was based on the UK's. Basically land is registered to an owner, when they sell you should get title deeds to the land. Unfortunately the system was brought in quickly and the number of staff in the Land Registry was not increased and a backlog grew. This was exacerbated by the massive increase in building and the bureacracy of the system. We were told it would take about three years in 2005, now you can wait for as long as ten years and sometimes even longer if you have an unscrupulous developer or a problem with the permits.

We were told that if we sold our apartment we could just ask the developer to cancel the contract and sell to the prospective owners. A clause was inserted in our original contract by our solicitor to allow us to do this. Several people in our block have sold on to others since it was built and they have all done this.

Personally we are not worried as we have used a solicitor recommended by the British High Commission, all the processes and permits have been completed and its just a matter of waiting.


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## Veronica (Apr 5, 2008)

One of the things that can hold up title deeds is if the property is on a piece of land which has had several properties built on before splitting the land into separate pieces, if one of the owners makes changes to his home (external) it can stop the title deeds to all homes on the land being issued. 
In these cases the owner iof the hosue has to put it back to how it is on the plans before the land can be split and title deeds issued.
This means that you cannot build an extension or even a covered veranda which is attached to the house until such time as you get your title deeds.

Quote from Babs
"Basically land is registered to an owner, when they sell you should get title deeds to the land. "


This only applies to land which is bought as a separate plot for building on.
With developments, whether it is apartments or villas a specific permformance is issued and the piece which you purchase is registered in your name but title deeds will not be issued until all of the development is finished and each unit has been given its own title deeds.


Veronica


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## Pretty Flower (Mar 15, 2009)

Veronica said:


> One of the things that can hold up title deeds is if the property is on a piece of land which has had several properties built on before splitting the land into separate pieces, if one of the owners makes changes to his home (external) it can stop the title deeds to all homes on the land being issued.
> In these cases the owner iof the hosue has to put it back to how it is on the plans before the land can be split and title deeds issued.
> This means that you cannot build an extension or even a covered veranda which is attached to the house until such time as you get your title deeds.
> 
> ...


Hi again

So when I come out looking dont worry too much but obviously I will ask the question about the deeds!

But then to tell you the truth at the moment as I have been looking for years at the property market I am beginning to think that we are more likely to go for a new build at then moment as its new and at the minute ideal as the £ has gone up again and most of the resales I have seen are more money.

So confusing because as we all would love a property in the area that we like just the way we want it but we all know we would be very lucky if that happened.

Anything else I should look for or avoid when we are viewing?

We go 5 weeks tomorrow (not that I'm counting) so any information is greatly received and noted.

Many thanks


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## Cleo Shahateet (Feb 23, 2009)

I would just say to just shop around as many homes are listed at a certain price but sell for much less - in general that is. Most sellers are willing to negotiate as properties have been taking longer to sell. As for the title deeds, if you plan on staying in your new property then I wouldn't worry at all as the ladies have previously mentioned but if you intend to live in it only for a few years then I would buy with title deeds. There are quite a few buyers who strictly rule out properties that don't have title deeds so it eliminates many potential buyers for you in the future if you intend to sell. Someone recently told me "No deeds, no deal!"


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## Veronica (Apr 5, 2008)

Pretty Flower said:


> Hi again
> 
> So when I come out looking dont worry too much but obviously I will ask the question about the deeds!
> 
> ...



You will sometimes find that resales, if they are individual houses have title deeds for the land even they dont yet have title deeds for the house. The important thing is the title deeds for the land.
You can buy a plot of land to have a hosue built on and get the title deeds for the land before you build.
With new builds from developers which are on complexes you will not get title deeds for many years.

Veronica


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## weeksy9 (Nov 18, 2008)

*hi there*

Hi there!

Well, ive been reading this thread and ive got to say that problems dont only exist as regards the delay in the issuing of title deeds, if your going to buy a new build you need security between the time you buy and the and the time the deeds are ready, who knows the property might be mortgaged to the hilt!! which could have serious implications on if and when deeds will be issued in your name. My eyes were opened wide may I say by my lawyers in Cyprus regarding mortgaged properties, of course there are other issues involved but its important that you take your time and dont be pressured by the hard sell approach. 


Hope my 2 penny worth has been useful.

Cheers

Andy


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## Veronica (Apr 5, 2008)

weeksy9 said:


> Hi there!
> 
> Well, ive been reading this thread and ive got to say that problems dont only exist as regards the delay in the issuing of title deeds, if your going to buy a new build you need security between the time you buy and the and the time the deeds are ready, who knows the property might be mortgaged to the hilt!! which could have serious implications on if and when deeds will be issued in your name. My eyes were opened wide may I say by my lawyers in Cyprus regarding mortgaged properties, of course there are other issues involved but its important that you take your time and dont be pressured by the hard sell approach.
> 
> ...


The specific performance document is designed as that security as it means that no loans can be taken out on the land by the person whose name the title deeds are in.
One case I know of, a small developer took a loan on land he had built a house on after the specific performance was lodged in the land registry under the new owners name(friends of ours). When this came to light he was threatened with arrest for fraud so he took a new loan out on his own home to pay off the fraudulent loan. Our friends now have their title deeds.
The law does work here as long as you have a good solicitor who does his job properly.


Veronica


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