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Investment Questions And Answers

Last Updated 18/06/2008


Question - "Can you tell me when a developer should hand over the title deeds to you when buying on a large complex? I am buying an off-plan three-bedroom villa in Cyprus and I want to make sure that it will be a freehold property when I finally pay the last sum of money to the developer. I want to be able to sell it at any time I feel like it. I do have an independent lawyer as you magazines are always saying, but he says the title deed is not ready yet. What should I do? "

Answer - A developer “should hand over the title deeds” some months at the very latest after completion has taken place and the property has been registered at the land registry.

This is however not the case in Cyprus, where you will have to wait approximately four to five years because of administrative delays in the land registry.

This does not mean that you cannot re sell your property during this period of time, as you will be able to show any prospective purchaser that you the correct owner of the newly built property.

I would suggest that you instruct your Cypriot lawyer to contact the land registry on a regular basis to keep the pressure on until you receive your deeds back.

Stefano Lucatello
Senior Partner
The International Property Law Centre LLP
Tel: 0844 578 5005