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I know this is a can of worms but.....PTP

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mixie


Joined: 16/05/2009
Posts: 302

Message Posted:
04/04/2010 19:08

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Message 1 of 16 in Discussion

Hi all,

I know this is a can of worms but can anyone tell me if they have recently been granted their PTP and how long they had to wait for it?

mixiex



Karanfil


Joined: 28/03/2009
Posts: 187

Message Posted:
04/04/2010 20:18

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Message 2 of 16 in Discussion

We heard from our solicitor two weeks ago that our PTP has been granted. Our application was submitted in May 2008 and our property is Turkish Title.



Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
04/04/2010 22:01

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Message 3 of 16 in Discussion

all purchasers now have "Turkish Title"



The government no longer distinguish between Exchange, Pre 74 or TMD.



This is causing some confusion because buyers seeing "Turkish Title" are assuming that they have purchased Internationally recognised "safe" title deeds when in fact they have purchased exchange. Do you mean you have Pre 74 or Turkish Title, because they are different?



Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
04/04/2010 22:10

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Message 4 of 16 in Discussion

My PTP was granted eight years ago but Mr Mehmet Bilimer (Advocate) decided to loose my file with registration number and my 500!



Richard



Karanfil


Joined: 28/03/2009
Posts: 187

Message Posted:
05/04/2010 10:32

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Message 5 of 16 in Discussion

Bradus



We have Pre74 title and yes I am aware that they are different.



professoregit


Joined: 30/08/2008
Posts: 381

Message Posted:
06/04/2010 08:07

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Message 6 of 16 in Discussion

Karanfil, assuming you are non-cypriot, this is interesting, there has been some consensus that non-cypriots were no longer being given ptp on pre74 title deeds.



Karanfil


Joined: 28/03/2009
Posts: 187

Message Posted:
06/04/2010 09:57

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Message 7 of 16 in Discussion

Professoregit



No I'm not a Cypriot. I'm as Engligh as they come and so is my partner. We were rather anxious after reading some of the posts on here that PTP on Pre74 properties would not be granted to foreigners, but it just goes to show that you shouldn't believe rumours.



professoregit


Joined: 30/08/2008
Posts: 381

Message Posted:
06/04/2010 11:00

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Message 8 of 16 in Discussion

Well done to you both! This should dispel the thinking in some quarters that pre74 Turkish land was off limits to non-TC's and is good news for those awaiting PTP with similar deeds.



Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
06/04/2010 21:46

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Message 9 of 16 in Discussion

'One swallow does not a summer make'



Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
07/04/2010 09:01

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Message 10 of 16 in Discussion

Karanfil: Suggest taking your title deed to the Nicosia (South) Land Registry for verification - only then can you be certain that the 'Kocan' document is genuine - certainly advisable before you pay the transfer taxes.



cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
07/04/2010 09:16

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Message 11 of 16 in Discussion

Regardless whether its Pre74 Turkish title or not wouldn't it be better to pay transfer taxes and have the kocan in his name considering that in the eyes of the TRNC all kocans are issued as one. I know i would especially after the recent ECHR ruling.



Karanfil


Joined: 28/03/2009
Posts: 187

Message Posted:
07/04/2010 10:21

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Message 12 of 16 in Discussion

Tenakoutou



Thank you for your suggestion. The title was checked by Naomi Mehmet prior to us buying the house. I am certain that it is Pre74 title as the house was built on land which was previously part of an orchard belonging to my neighbour. She is an 82 year old Turkish Cypriot and was born in her house. The house is in the Turkish quarter of Girne and all the properties surrounding ours have Pre74 Turkish Title.



Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
07/04/2010 11:55

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Message 13 of 16 in Discussion

It would be interesting to know when you made your application for PTP.



Being in the Turkish quarter, I guess that you're not in proximity to any military installation; nevertheless, I and several acquaintances have been refused their PTP on genuine pre '74 TT - proximity to military being the excuse.



One estate agent, who claimed to know 'the powers that be', told me, only after I promised not to divulge the name, that the government decided (in camera), after the Annan Plan (TRNC referendum), not to issue any further PTP to foreigners, and this seems to have been 99.9% the case. You are exceptionally lucky! You could/should still check with the only internationally recognised (God only knows why, considering all the scams/falsified title deeds in the South) Land Registry in Nicosia. The only problem in doing this is that you might risk instant arrest and all the associated inconvenience by doing so.



laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
07/04/2010 12:52

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Message 14 of 16 in Discussion

Hoorah!!!! Have just received an email from Naomi Mehmet to say that we have our PTP. We applied in Feb 2008. Apparently though, can't get title transferred yet because

"last year, the Government implemented temporary reductions to the taxes payable on transfer of title to assist purchasers who were in the process of purchasing property, but who had not taken title and who were suffering the effects of the global financial crisis, making it difficult for them to pay their taxes and take title. The aim was also to relieve the financial burden on the constructors, who were also suffering the effects of the global financial crisis.



The deadline for completing the transfers at the reduced rate expired on 31st December 2009. However, the rate being applied to constructors is still the reduced rate of 4%, whereas the taxes payable by purchasers have returned to their normal rates.(to be continued)



laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
07/04/2010 12:54

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Message 15 of 16 in Discussion

(continued from above)

The Constructors Union has decided to boycott all transfers of title until the Government takes action with the aim of ensuring that the Government receives no revenue through transfers of title. The Constructors Union has issued a notice to all of its members to the effect that they will issue severe financial penalties to any members who go against this decision and transfer title during the boycott period."



Still good news though.



laptagal


Joined: 28/05/2008
Posts: 549

Message Posted:
07/04/2010 12:57

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Message 16 of 16 in Discussion

Oooopps - missed out a paragraph when I cut and pasted. The following should go at the beginning of my last post;



"The Constructors Union has joined forces to try to put pressure on the Government to re-institute the reductions to the taxes payable by purchasers, arguing that unless financial incentives are offered to both constructors and purchasers, purchasers will not be able to take title."



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