Title Deeds in Cyprus
Cyprus title deeds are a series of legal documents that record land and property ownership. All land is registered in Cyprus, and the Department of Lands and Surveys has a copy of the title deeds for every property.
The title deeds prove ownership and show its history. They will also include information such as mortgages, long-term leases (over 15 years), charges, court decisions, etc.
Title deeds are issued by application to the relevant district office of the Department of Lands and Surveys (DLS), Ministry of the Interior, Cyprus.
Relevant legislation
The rules on title deeds are contained in the following legislation:
- The Immovable Property (Tenure, Registration and Valuation) Law, Cap. 224.
- The Immovable Property (Transfer and Mortgage) Law, 9/65.
- The Sale of Immovable Property (Specific Performance) Law of 2011, Law 81(I) 2011.
- The Streets and Buildings Regulation Law (Amendment) of 2011.
Costs
The cost of title deeds depends on the value of the property. The rates are as follows:
- Value up to EUR 85,000; the transfer fees are 3%.
- Values between EUR 85,001-170,000; 5%.
- Over EUR 170,000; 8%.
- Chapter 219 of the Department of Lands and Surveys (Fees and Charges) laws allows a 50% reduction of the transfer fees for any property.
- No transfer fees apply if VAT has been paid. The VAT rate is 19%. However, a reduced rate applies for first residence under certain conditions.
Obtaining title deeds
To get title deeds for a new property, the owner or developer will apply to the relevant district office of the DLS, showing the certificate of final approval (CFA) that is issued by the municipality or community council of the area where the property is located. The CFA certifies that all planning permissions and regulations have been observed.
To get title deeds after a resale, the buyer and seller or their representatives must go to the district office with the contract of sale and identification documents (or proxies in the case of representatives) to do the transfer and issue new title deeds in the buyer's name. They must complete two forms: N 270, which is a declaration, and N 313, certifying that all taxes have been paid. Upon payment of the transfer fee, the new title deeds are issued.
Buying a property without title deeds
This is possible but must be done with great caution. The DLS recommends asking for the title deeds and, if the seller does not hold any, finding out why there are no title deeds. The most common reasons are that the property is mortgaged or that there are legal problems with it. In such a case, the law protects the buyer through the Sale of Property (Specific Performance Law) of 2011, as amended in 2023.
According to this law, the seller needs to insert a search certificate for the property in the contract of sale. The search certificate must not be older than five working days from the conclusion of the contract of sale. If the property is mortgaged, you may repay it, and the lender will be obliged to accept the repayment. Then, the lender and seller will sign a declaration that they will transfer the property when you have repaid the mortgage and issue a receipt for repayment. These documents will allow the DLS to transfer the property to you.
The procedure of depositing the contract of sale and declaration must be done within 6 months of signing the contract of sale. Before buying the property, it is possible to do due diligence regarding the title deeds and property (i.e., search the DLS) by filling out an application and paying a small fee.
Importance
Title deeds are central documents and an important part of buying land. They prove the registration of the legal title and who owns the property. Moreover, title deeds show the current state of the property and contain a description, registration number, encumbrances, mortgages, rights, and charges.
It is not recommended to buy property without title deeds.
