The Land Registry maintains records of all land transfers in the same way as in the UK. The TRNC government issues the titles in the form of Title Deeds ("Kocan" in Turkish) as either Freehold or Leasehold and draws no distinction between the freehold titles of properties. However, buyers should be aware of the history of the title they are buying.

Foreigners are limited to owning one dönüm (approx 1/3 acre) per person (husband and wife count as one person). There are a number of checks carried out by the Council of Ministers following an application to purchase, which can take approx 12-18 months to complete.

There is also Land or Property, which belonged to a Greek Cypriot prior to 1974 for which no title deeds have been issued. These are sometimes offered for relatively nominal "goodwill" sums. It is our opinion that agreements should not be entered into for property that does not have a title deed issued by the relevant authority.

• FOREIGN FREEHOLD TITLE
  Land owned by non-citizens (e.g. British) and purchased prior to 1974. The title deed is internationally recognised and undisputed.
• TURKISH FREEHOLD TITLE pre'74
  Land owned by a Turkish Cypriot prior to 1974 with undisputed title.

Turkish and Foreign titles are indisputable.

This is land previously owned by a Greek Cypriot prior to 1974, abandoned when the owner relocated and normally now owned by a Turkish Cypriot who fled from the south, and who has lodged the title deed to his own land in the south with the Land Registry in exchange. The land in the south is generally now far greater in value because of the rise in prices. It is possible that some compensation based on the relative values may be payable in the future, and this will work both ways. With this caveat the title is generally considered safe.

(Kesin Tasarruf Belgesi - Absolute Possession Document)
This is property previously owned by a Greek Cypriot prior to 1974 and abandoned by its owner. The land was re-possessed by the TRNC government and has been granted to Turks or Turkish Cypriots normally in recognition for services and on a points basis. With sufficient points, the occupier is allowed to purchase the title, without which no sale can be made. In the future, it is likely that compensation on the value of the land may have to be paid. This potential liability can be viewed as insignificant when measured against the rise in property prices that is taking place in the next few years. It is estimated that house prices will double or even treble in the next 3 years until reaching parity with equivalent property in the south.

The TRNC Government owns the freehold of this land. Long-term leases can be granted for 49 years with an option for a second 49 year term. This type of title is normally used for tourism projects. Leases can be transferred directly or via a solicitor upon application to the Ministry of Interior. For example, all the houses in the picturesque village of Karmi are leased to foreigners.

All our properties are sold with clear title which depends on the original title of the development. Each development, when complete, is divided into individual title deeds for each plot and is then transferred to the buyer automatically by us.

The actual procedures are as follows:

• Buyers are highly advised to take professional and independent legal advice and the validity of a title deed should be checked by a solicitor who will visit the Land Registry personally.
• Contracts of sale are drawn up and notarised, at which time a 10% deposit is payable, and a completion date is set. In many cases, the purchaser can return home leaving a power of attorney with their solicitor, who can then complete the purchase.
• The Contract is lodged at the Land Registry and is binding on both purchaser and vendor.
• An application to purchase must be made to the Council of Ministers which can take 12-18 months.
• The Land Registry will value the property for Purchase Tax, which is not normally included in the purchase price and which is payable on the transfer of the title. VAT is payable on the transfer of the title of property if the Vendor is a company.
• Subsequent payments will depend on the terms of the contract. For a new build, this will normally be by stage payments based on the building work.
• On completion of the entire development (or sometimes at the commencement of the project), the title will be split into individual titles, which are then transferred to the purchaser and the Land Registry will issue an updated title deed.