coastal path, palm trees, sea-2199493.jpg

5 Common Misconceptions About Property in North Cyprus (Part2)

Misconception 5: North Cyprus Title Deeds are dangerous or impossible to get

True: In North Cyprus, there are exceptionally safe title deeds available. Obtaining Permission to Purchase in North Cyprus is currently a simple process. ALL title deeds issued by the North Cyprus government are backed by the TRNC government.

The most recent regulations make property in North Cyprus quite safe

Because of the complicated history of Northern Cyprus’s creation, it’s reasonable that many ex-pat buyers have concerns regarding the security of North Cyprus Title Deeds. The good news is that as time has gone on, many new policies have been enacted that have made a prudent new property purchase in North Cyprus increasingly safe and worry-free – with no more hazards than any other overseas property destination. This section describes how and why tens of thousands of international property purchasers now consider buying a property in North Cyprus to be a very safe purchase.

There are two primary reasons why prospective North Cyprus property buyers are concerned about title deeds.

A. Are you concerned that you will not acquire your title deed in North Cyprus?

You may be apprehensive that if you purchase a property in North Cyprus, you would never obtain your title deed. This may happen if a buyer was denied permission to purchase or if the developer refused to release the deed.

The lack of deeds is extremely unfortunate, but there are now new safeguards in place in North Cyprus to prevent this from happening, summed up in the new “Estate Agents Bill,” which now protects the buyer and requires the contract of sale to be registered with the North Cyprus land registry as soon as possible after signing.

Permission to purchase (commonly known as “P2P”) is a legal requirement that will only be denied if the individual passes a police check in the nation where their passport was issued.

Will I be able to obtain my title deed in North Cyprus?

  • If you are a person who can pass a police check in your home country.
  • If you’re buying a new home from a reputable builder who has a track record of completing projects on time,
  • Once the developer or private seller is able to transfer the property, you will obtain a title deed.

Please keep in mind that each person is only authorized one title deed.

What causes these misunderstandings? – In terms of acquiring Permission to Purchase (or P2P), there was a moment a few years ago when P2P was delayed from buyers who wished to purchase a property built on Pre-74 Turkish Title land for political reasons. P2P is now being provided quickly for all title deed applications.

In rare circumstances, there are injunctions or impediments against the buyer receiving the title deed – or the deed is shared with another property. Recommends that you visit a North Cyprus lawyer who will review all of this for you before making an offer on a property or before releasing any reservation deposit funds to the seller, to ensure that the deed exists and is sound.

Our company, cyprus-properties, only lists new properties built by companies that have a perfect track record of immediately delivering title deeds to new buyers.

B. Are you concerned that after receiving a title deed, you will lose your North Cyprus property due to the reunification of Cyprus or any other claim?

Perhaps you are not concerned about receiving a deed. You simply do not have faith in the North Cyprus Title Deed. This could be for political reasons, as a pre-existing deed may appear to displace your new North Cyprus deed, given the island’s history of partition between South and North Cyprus. It could also be for another cause.

True: New properties in North Cyprus built on pre-74 and Exchange Title Deed land are extremely safe.

In North Cyprus, there are two types of land deeds on which most new properties are built and which are considered extremely safe to buy. Pre-1974 Turkish or British Deed properties are built on land that has always been part of Northern Cyprus and on which no claim or property loss can be made. The other sort of land deed, known as “Esdeger” or “Exchange” land, is the most commonly employed by developers today and regarded highly safe by North Cyprus lawyers. The latter refers to land that has been given up in return for a deed on land of similar value lost on the south side of Cyprus after the partition.

The term “TRNC Title Deed” refers to new deeds issued on properties created after the island was divided in 1974 and which did not exist previous to the island’s partition and hence cannot be claimed by anyone else. The government of North Cyprus is backing these deeds.

In the event of reunification of Cyprus (at which point your new North Cyprus property is expected to appreciate significantly), compensation will be payable to former Greek Cypriot landowners, as well as Turkish Cypriot landowners who lost up to 20% of their land in the south. However, there has never been any suggestion that this restitution be paid by new property owners, but rather by the international community through a Property Commission.

North Nicosia’s Immovable Property Commission

In North Nicosia, there is already a fully operational Immovable Property Commission, which the European Courts of Justice have recognized as “an effective local remedy” for compensating Greek Cypriots for land lost in North Cyprus. There are a few “restitutions” of older, unmodernized village homes built before 1974 that we do not advocate buying.

Why do people have misconceptions about buying property in North Cyprus?

Unfortunately, when it comes to safety myths, the mainstream media has tended to focus on the loss of land in the north of Cyprus, whereas Turkish Cypriots (who have lost up to 20% of their precious land in the south of Cyprus) have received little coverage. To our knowledge, just one ex-pat home has ever been lost in North Cyprus as a consequence of a high-profile, government-funded Greek Cypriot court action, which only won because the home was erected in an existing older residence’s orchard.

We at cyprus-properties would encourage all of our North Cyprus property purchasers to ignore internet rumors and outdated information, and instead get a reputable legal opinion on the acquisition of your new North Cyprus home.