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Archive for the ‘Cyprus Title Deeds’ Category

Legal Consultants in Paralimni – Review – Title Deed Reform Delay – Completed on 28^th July 2010. Cyprus Title Deeds

There are many angry people over the Cyprus Title Deed legislation being delayed. The Government has made a lot of promises to the public and had failed to follow through on these.

It has been reported that the delay is due to lack of information not being given to the relevant officials, and therefore these officials have no recollection of them.

However, the Minister believes that all details were discussed and agreed up on and therefore were ready to go to the House of Parliament to be passed.

This discrepancy is very frustrating to the public and the delay will carry on until at least October after the summer holiday has finished, before discussions will open again on the issue.

Some details within the bills are being totally rejected by certain parties and even when talks do continue in October it appears it will still not be smooth sailing.

Some views seem to be that the bills do not help purchasers who have already brought property and are having trouble claiming their Title Deeds due to the developer mortgaging the land, even after the launch of the contracts to the Land Registration office.

The Title Deed Reform was devised to help with the country’s high deficit in mind, so not only are many people still stuck without a Title Deed solution, the state deficit will also suffer until progress is made.

Now if some of the bills are being rejected and discussions and amendments need to place further, this could mean a very long wait and 2010 may not be the year to celebrate the Title Deed reform.

Our office after extensive hard work trying to get the Title Deed Reform moving, has written to the Minister asking for the legislation to be passed as the public are very angry over this issue.

We urge all citizens to write to their local MPS stating their views and ask for them to hasten up this frustrating issue.  We believe that we should do something about this! The Minister states that the parties have delayed the bills, so let’s ask our local MPs about this?

PUBLISHED BY A&G KOUZALI ON 28^TH JULY 2010.

Cyprus Title Deeds – www.lawcyprus.org Letter to Clients

Distinguished client and Distinguished friends,

May I take this opportunity to inform you regarding the latest on the “Title deed” matter.

We have information from the minister Mr. Silikiotis, that the Cyprus Parliament and the political parties, are avoiding to finalize the issue and instead of dealing with the matter they have now postponed it for October, 2010!

The minister states that the parties wanted him to withdraw the 5 Bills of legislation!  Also some of the people involved demanded that the contracts not to be land registered.

Further to that we have been told that though the Minister wanted to apply sales only with final building permits, he now had to back down with sales only with planning permits following pressure from the political parties.

The Legislation proposed also had provision that a percentage of every payment to go directly to the bank in order the Land Loan by the developer to be paid as soon as possible.  The question now is “Is it still the case”?

My question is, if our MP’s want us to be unsafe and continue the same cancerous procedure…It seems that the ministry wants to finalize that but the obstacles he gets are coming from our MP’s.

We have on one side the developers that it seems they prefer that the legislation not to be passed.  Actually our source tells us that the minister was asked to “negotiate with the developers” and being honest WE DO KNOW that when the bill for the “committees” was prepared by the Land Registry some years ago (which is still in the drawer) the official was asked to negotiate with the developers and find a solution before the approval of the bill by the parliament.

We feel that its time for our Members of the Parliament to work for the people and not for the developers or anyone else. However as we don’t have their response yet, it is more than fair to give them the information we have…and this is what we do and kindly ask them to make statements as to their position.  To find their email address you can visit the governmental website which is www.parliament.cy and also we feel that you should send them your thoughts and complaints.

Let’s all give our MP’s the benefit of the doubt and expect our Members of the Parliament to give us their position…and the most important of all to make sure this problem is sorted out as soon as possible.

The parliament has a responsibility towards us, towards the economy of this country, towards our families and our children.

Τα τελευταία χρόνια φαίνεται να υπάρχει τεράστιο πρόβλημα αναφορικά με την έκδοση των Τίτλων Ιδιοκτησίας. Ένας σημαντικός λόγος καθυστέρησης είναι οι διάφορες παρατυπίες σε μέρος των μονάδων ή των κοινόχρηστων χώρων τόσο από τους νέους ιδιοκτήτες όσο και από τους επιχειρηματίες ανάπτυξης γης. Επίσης  ο Υπουργός Εσωτερικών ανάφερε ότι το πρόβλημα της πολύχρονης καθυστέρησης έκδοσης τίτλων ιδιοκτησίας οφείλεται κατά κύριο λόγο σε ελλείψεις της κρατικής μηχανής, με αποτέλεσμα να δημιουργηθούν πολλές φορές εκ των υστέρων, παρανομίες που επιτείνουν το πρόβλημα.

Για αυτό τον λόγο προωθούνται πέντε νομοσχέδια για πολεοδομική αμνηστία προκειμένου να αντιμετωπιστεί συνολικά το ζήτημα το οποίο έχει γίνει ένας γόρδιος δεσμός που προέκυψε από τα κενά που υπήρξαν όλα αυτά τα χρόνια αλλά από την απότομη έξαρση στην βιομηχανία.

Συγκεκριμένα σε δημοσίευμα στην εφημερίδα «ΣΗΜΕΡΙΝΗ» στις 03 Απριλίου, 2010 με τίτλο «Τέλος στις καθυστερήσεις τίτλων Ιδιοκτησίας» ανέφερε ότι βρέθηκε η χρυσή τομή για την πολεοδομική αμνηστία που ταλαιπωρούσε τον κόσμο για δεκαετίες και εγκλώβισε στην κυριολεξία δεκάδες χιλιάδες τίτλους ιδιοκτησίας.

Επίσης σε συνέχεια του ίδιου δημοσιεύματος ανάφερε ότι τα πέντε συνολικά νομοσχέδια για τις πολεοδομικές ρυθμίσεις αλλά και την πολυσυζητημένη πολεοδομική αμνηστία, ήταν έτοιμα και θα «περνούσαν» στο Υπουργικό Συμβούλιο και στις 15 Απριλίου, 2010 θα ψηφίζονταν από την ολομέλεια της Βουλής κάτι το οποίο δεν έγινε μέχρι σήμερα και αυτό πραγματικά μας ανησυχεί! Ο κόσμος αναμένει άμεσα την προώθηση των νομοσχεδίων και ευελπιστεί στην έγκριση τους από την Βουλή.

Ο Υπουργός Εσωτερικών, κ. Νεοκλής Συλικιώτης, ανάφερε για να μπορέσει να εφαρμοστεί αποτελεσματικά η πολεοδομική αμνηστία εισάγεται μια νέα πολύ σημαντική καινοτομία που αφορά την εισαγωγή τριών τύπων ιδιοκτησίας αντί του ενός που υπήρχε:

Α. Ο πλήρης τίτλος ο οποίος θα έχει την υπόσταση που είναι γνωστή ως σήμερα

Β. Ο ατελής τίτλος ο οποίος θα εκδίδεται με σημειώσεις αναφορικά με μη εξουσιοδοτημένες επεκτάσεις ή τροποποιήσεις σε σχέση με εκδομένη  άδεια οι οποίες είναι επουσιώδεις ή σε περιπτώσεις που δεν είναι δυνατό να καθοριστούν τα τμήματα ιδιοκτησίας για τα οποία έχει αποκλειστικά δικαιώματα μονάδα της ενιαίας ανάπτυξης.

Γ. Ο Περιορισμένος τίτλος ο οποίος θα έχει σημειώσεις αναφορικά με μη εξουσιοδοτημένες ουλώδεις τροποποιήσεις ή επεκτάσεις, ο τίτλος θα στερείται δικαιοπραξιών και το ακίνητο δεν μπορεί να υποθηκευτεί.

Εμάς μας ανησυχεί όλη αυτή η καθυστέρηση και ευελπιστούμε ότι οι Κύπριοι βουλευτές και τα κόμματα θα συμμεριστούν την δική μας ανησυχία!

Cyprus Title Deeds – Review by Cyprus Lawyers – 30^th May 2010.

A lot of emphasis has been put on the 5 legislations the Cyprus Interior Minister devised to help ease the burden and fight the battle the Cyprus Title Deeds issue.

It is now official that the 5 Legislations are now finalized and will be brought to Parliament by the end of April, with a strong view of being passed without any opposition.

The Cyprus Minister after much scrutiny and bad publicity has made promises that he intends to keep by turning around the whole Cyprus Title Deeds procedure. Once the 5 legislations come in to play it is highly thought the backlog of Title Deed applications will soon diminish with Title Deeds being issued at an accelerated rate.

The Minister has taken great effort and concentration on modernising, restructuring also simplifying Government and local authorities’ administrative procedures. Communication between relevant offices and the Government is to be prerequisite.

New positions and quality evaluation for existing positions will be implemented and a single and set   national policy will also be in place.

Many positive changes are involved in the Ministers plans for new Title Deed reform and we for one are very excited.

Once we have official confirmation that the 5 legislation have been passed in Parliament, we will endeavour to bring a full report on all 5 legislations and how they will help the Title Deeds issue.

For more information visit us at www.lawcyprus.org

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 30^TH MAY 2010.

International Property Lawyers in Paralimni Cyprus – Review IDR and benefits to Cyprus property market completed on 1^st February 2010.

CAN IDR HELP RESTORE CONFIDENCE IN CYPRUS TITLE DEEDS PROCEDURE?

The International Development Registry (IDR) has been specifically created to protect buyers against the increasing issues surrounding buying overseas property. IDR wanted to give extra protection to clients as they felt standard legal advice is not enough.

IDR in theory offers a health check service on overseas developments.  They undertake research and vetting procedures giving clients peace of mind that a development is a wise and safe investment.

The IDR is an optional register for developers, if they feel confident with their development and want clients to feel the same about buying from them.

This service offers a worldwide register that collects information on the current status of individual properties. Information searched comprises financial searches on developments and relevant permits and licences relating to Title Deed Issues.

These reports are now being incorporated in ‘protected property purchase’ products for pre approval of Title Insurance.

The reports also benefit the developer as this can be used for financial funding from banks and private investors for example. A client is likely to feel more confident in buying from a developer who is IDR registered than not, because this proves all is above board and the developer has nothing to hide.

Registering developments with IDR could help improve property markets as this service helps restore buyers’ confidence in overseas developments.

Visit us at www.lawcyprus.org

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 1^st FEBRUARY 2010

Cyprus Lawyers – review – Cyprus Title Deeds

Cyprus Minister Mr Sylikiotis is expected to be a big hero in 2010. Can he be?  The 5 Legislations to be implemented in the very near future will quicken the Title Deeds procedure and will help many thousands of property investors in Cyprus to obtain their Title Deeds.  In the process it will also gain as estimated €150 million plus, for the government in 2010 alone.

Each Title Deed issued is liable for Transfers Tax Fees and it is expected that 20,000 applications will be processed and issued in 2010 and the same for 2011 and therefore the budget is looking very good for the future of Cyprus.

The new Legislations are expected to be officially passed by no later than March as the Minister has hurried this through. The Minister is very confident there will be no problems at all with the Legislations being passed.

In some recent polls taken by Cyprus Property Purchasers, the indication was that a high percentage of purchasers have been waiting up to 20 years for their Title Deeds, some ten years some five.  This is about to change and with 3 different Title Deeds expected to be issued the process will definitely be a great deal speedier and more efficient. 

Many people have lost confidence in Cyprus but over the next 1-2 years those who didn’t invest in Cyprus will sadly have missed out.  Cyprus is on the move and major things are happening and we do believe and really hope that Cyprus Minister Mr Sylikiotis will definitely be a hero to many in 2010 and especially for the sake of all investors purchasing property in Cyprus.

Visit us at www.lawcyprus.org

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 26^th JANUARY 2010.

Cyprus Title Deeds Review – completed on 26^TH January 2010 by A&G Kouzali International Property Lawyers based in Paralimni Cyprus.

We are very excited about the 5 new Legislations being passed to upgrade the procedure of issuing Cyprus Title Deeds.  After we analyzed the process, we found there will be 3 new types of Title Deeds that will be issued.

The Title Deeds will be issued and titled under a certain criteria the first one being titled ‘CLEAN’ which will indicate no infringements have been made and all is according to plan.

The second Title Deed will be titled ‘INCOMPLETE’ which will indicate minor breaches incurred and finally the third Title Deed will be titled ‘LIMITED’ which will state major violations have occurred and the property can not be sold until these violations have been rectified.

Property investors in Cyprus can also apply directly to the Land Registry Manager for their Title Deeds if the developer is not performing his duty and taking appropriate action, purchasers do not have to wait.  The Land Registry Manager will then investigate the matter and decide whether to issue the Title Deed.  This is called a ‘SPECIAL EXECUTION TITLE DEED’.

Also under the new legislation, the developer will be penalized if it is seen they are in breach of contract or is not performing his due diligence towards the issuing of Title deeds.

Cyprus is on the up and up, and with so much going on 2010 is going to be a fantastic year for our magical Island.

Visit us at www.lawcyprus.org

PUBLISHED BY A&G KOUZALI LAW OFFICE ON 26TH JANUARY 2010.