The procedure for the transfer of ownership from Seller to Buyer is undertaken through the Cyprus Land Registry Office, either by the Buyer or through their legal advocate.
Title Deeds are customarily issued within the succeeding year or so, after a project has been completed, and under the name of the Developer. Each unit sold is sequentially transferred as to their Title Deed in the name of the new Buyer.
Once the Contract of Sale is deposited at the Land Registry Office, the Buyer is safeguarded from the any dishonest behaviour on behalf of the Seller, such as the transfer of property elsewhere.
In summary, transfer of ownership is a simple process that does not comprise of any further charges or encumbrances, whereby the beneficial owner can legally exercise Specific performance once the contract has been consigned to the Land Registry Department.
Please do not hesitate to contact us so to further assist you and respond to any inquiry.