We carry out the legal formalities of transferring ownership as well as other rights in property, from one person or legal entity to another. The prospects of navigating this process can be daunting, but with our extensive knowledge, experience and expertise we can turn a bumpy ride into smooth sailing.
We provide legal support and services for property transactions in Cyprus, legal advice, advise to avoid pitfalls, we are conducting land registry searches, we provide assistance in negotiation of property transactions, we provide expert drafting of contracts and documents, and, following signature, we take care of the process of depositing the contract at the Land Registry for title protection.
We assist our clients every step of the way and offer a turnkey solution for all aspects relating to real estate. This ensures that our clients have a hassle- and stress-free experience, making it a joy to purchase property.
Conveyancing is the legal term for the process whereby a person, company, corporation or trust becomes the registered and legal owner of immovable property and ensures that this ownership cannot be challenged. It also covers the process of the registration of mortgages and other rights attached or burdening the property.
We offer cost-effective and efficient service in respect of all property related matters, which include:
- Drafting of contracts of sale (commercial and residential)
- Property transfer and registrations
- Commercial and residential developments;
- Drafting of long lease and rental agreements;
- Drafting of development agreements;
- Drafting of business contracts;
- Drafting of loan agreements;
- Land Registry searches
- Legislative and regulatory advice
A not so uncommon issue which must be successfully addressed when buying residential property in Cyprus (houses , villas, flats) are the possible complications about the issue of titles of ownership of property.( ‘’certificates of registrations of immovable property’’) .
This happens when you buy a property with no existing title at the time of purchase. It is quite common when it comes to new developments. For example a property developer starts building on land he has purchased but not paid off or even on land paid off already and registered in his company’s name but mortgaged to a bank for a loan as a means of raising funds to carry out the development.
When houses are built on one plot of land covered by a single title (unified development) the one single title to the land must be eventually split up into several other titles for each house. This process will take some time to be finished and the separate titles normally will not be ready until after the finishing and delivery of the house. In such cases a bank guarantee must be issued by the developer to the buyer (to guarantee the issue of title through payment back of the purchase price in case of a default). Another way to protect the buyer is to ask the bank –lender for the construction to issue a letter of commitment that so long as the sale price is fully paid and separate title is issued they will duly consent for the registration of the property and issue of the title in the name of the buyer.
From our experience all the above issues can be successfully solved with proper legal advice and full protection can be afforded to every buyer.