Title Deeds - Has ANYONE got them???

Corinium


Joined: 23/03/2008
Posts: 58

Message Posted:
23/03/2008 12:11

Hi everybody



I purchased a house in Alsancak some three years ago. It is finished, we use it for around 6 months a year. I have paid all my taxes on it, I have had my permissions to purchase come through.



Yet I still await my title deeds.



When I speak to people about this, most tell me that they too await the deeds to their houses, but are not bothered as 'they are sure they will turn up one day'.



To me it seems amazing that people have paid lots of money for properties yet are quite laid back in their thinking.



As I see it - if you dont have the deeds you dont own the property.



Please can anyone enlighten me on this.



Thanks

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
23/03/2008 12:56

SPOT ON CORINIUM.



If you don't have the deeds the person with the deeds (builder) still owns it. Whats more if your contract has not ben stamped and registered the builder is at liberty to sell it again or remortgage it. If he then does not pay the mortgage the bank will become the new owner. Why people are so easy going about this when you hear daily from buyers that have fell for this scam is beyond me. Once you get your PTP you should be demanding your title deeds.

Pay the vat on exchange of deeds.

p4aul


Joined: 12/10/2007
Posts: 71

Message Posted:
23/03/2008 12:59

To answer your question:



Yes i have my title deeds, good luck

cleos


Joined: 13/03/2008
Posts: 77

Message Posted:
23/03/2008 16:57

We also have our deeds. Our house was completed 3 weeks late but completed with electric and water (at no extra cost) in July 2005 and our PTB came though Jan 07. We paid our KDV and our kochan was ready for collection in April/May 2007.

I do sympathise with those of you who have builders/solicitors probs etc and hope that you all get everything sorted so that you can enjoy TRNC and your new homes without the stress of whether things are being done properly etc.

Good luck.

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
23/03/2008 19:26

Corinium,

You have to press the vendor to transfer the title deeds and probably he will blame the TRNC government for being slow. Below is a chronological list of what should be done and find out at what stage is he and what he is exactly waiting for. It is very important as stated above that you register your contract with the District Land Office.



1. Building Permit. This is obtained from Municipality or District Office and shows that building permit is obtained i.e. all regulations complied with and no future surprises. This should be obtained before the building work actually starts.



2. Final Approval. The authority giving the building permit carries out checks to confirm that the construction is in accordance with the permit.



3. Partition Permit. This applies for Estates and apartments.



4. Final Approval for Partition. Once this is done everything is ready

for the transfer of Title Deeds.



5. Transfer of Title Deeds. You pay 5% VAT, 3% transfer fee and 1% Property tax at this stage.



Good luck.

ismet

doghnuts40


Joined: 15/02/2008
Posts: 21

Message Posted:
23/03/2008 19:32

If you have paid your taxes why dont you have your title deeds? Who is your lawyer? It normally takes around two months after paying all taxes to get the title deeds so either your information is incorrect or your lawyer is not doing their job!!!!

TimothyCadman


Joined: 13/12/2007
Posts: 1040

Message Posted:
23/03/2008 21:00

If your taxes are paid, then there is no logical reason why you can't have a deed in your name. You paying taxes means that your builder has done too.



BUT......Does he own the land? Or is it in the name of someone else? The plot thickens!

orangekazzie



Joined: 31/07/2007
Posts: 1091

Message Posted:
23/03/2008 23:24

We also have ours. Ours were ready about 2 months after we had paid our taxes/stamp duty.

Karen

Corinium


Joined: 23/03/2008
Posts: 58

Message Posted:
27/03/2008 19:23

Thanks everyone for their comments

I have just read other forums and have got the awful feeling that the reason that I do have my deeds is that the builders have a mortgage on the land.

I feel rather sick, having invested my life's savings in what I thought was going to be my dream house.

Corinium


Joined: 23/03/2008
Posts: 58

Message Posted:
28/03/2008 11:24

Sorry for confusion.

The second sentence above should read "the reason I DON'T" have my deeds.



Also ELKO2 many thanks for your help - much appreciated

wackyjim



Joined: 04/06/2007
Posts: 760

Message Posted:
28/03/2008 11:38

If its any consolation you are NOT alone!!!



No point in losing sleep over it, I am still waiting for mine and there is precious little I can do to make things happen any quicker.



Best to start worrying when there is a problem rather than thinking there might be one.



Open a cold Efes and keep on enjoying your place in the sun......Cheers!!!!

Corinium


Joined: 23/03/2008
Posts: 58

Message Posted:
29/03/2008 18:30

Thanks everyone. Much appreciated

peachy


Joined: 18/04/2008
Posts: 24

Message Posted:
19/04/2008 18:59

Hi i dont have this problem but i know people who have only owned there house a year paid there taxes and have there title deeds ..infact neigbours applied 2 weeks ago came for holiday and they got theres yesterday took 2 weeks after paying taxes and applying would ya like me to find out there solicitor ...let me know ...good luck