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Title Deeds Cyprus: What You Need To Know

18 January 20233 min readby Tom Miskelly

Cyprus Property Debt Title Deeds

There are more than a few issues with how property development and sales are handled in Cyprus. This was most prominent in the lead-up to and aftermath of 2008. One of the biggest issues has been the fiasco surrounding Title Deeds for Cypriot holiday properties or, the lack of them. So, what are the issues with Title Deeds in Cyprus? Read on to find out more.

What are Title Deeds and why do you need them?

Officially known as a “Certificate of Registration of Immovable Property”. This is an official document that shows property ownership. It also contains details about its location, size and more. They are particularly important when it comes to the sale of property, as they are needed to transfer ownership to any buyer.

How the problems began…

In Cyprus, the developer, central government departments, and local government/councils are all involved in the process of issuing Title Deeds. Many developers did not correctly divide up the plots of land when they were building apartment developments. Therefore, they could not provide individual separate Title Deeds for purchasers. If you were not issued Title Deeds, it can be an incredibly frustrating process, especially if you’re trying to find information regarding your property

Selling without Title Deeds

A lack of Title Deeds in Cyprus is not a major issue if you are happy to keep your property. The real problems arise if you’re trying to sell or if you’re property is in negative equity, and you want to get rid. Without Title Deeds, you will need to find a cash buyer to purchase your property. This makes a sale much more difficult and means you may have to sell for a lower price. This is not ideal if your property is already low in value.

There can be any number of issues if the property is in negative equity, has an interest-only mortgage or has Swiss Franc currency issues. If you fall into one of these categories, you could be ‘trapped’, unable to sell and unable to keep paying for your property.

The advertisement of specific “Properties With Deeds” shows just how much of an issue Title Deeds are in Cyprus.

Can you obtain Title Deeds?

If you have dealt with the Cypriot government or local councils, you will be familiar with the frustration and red tape involved. As a result, many people will not be able to secure Title Deeds, especially for properties purchased pre-2008. In fact, there are still over 100,000 people in Cyprus who are still without deeds. Our team has to deal with the fact that many developers have now ceased to trade and are not contactable. This means the likelihood of ever obtaining complete Title Deeds is poor at best.

How can we help?

EU Property Solutions can help clients without Title Deeds in Cyprus. We have assisted with Swiss Franc issues, Negative Equity and interest-only mortgages. EU Property Solutions and our Cypriot legal team understand how lenders work and their processes to resolve these property issues and settle mortgage debts. We aim to avoid sales procedures and assist borrowers with alleviating their Cypriot property debt burdens.

If you own a property in Cyprus and you’re experiencing any of the issues discussed above,call EU Property Solutions now on 0044 330 124 1230 to speak to one of our specialists.

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