Kocan issue on completed phase of development

harryc


Joined: 12/06/2010
Posts: 21

Message Posted:
06/05/2011 17:23

A while - months - ago I read the law on issue of kocans was to be altered, allowing for issue of kocan to PTP holders of properties on completed phases of a development pre-parcellisation of the whole site. (Have PTP number, stamp duty paid, in occupation, water electric etc. connected).



Has any more been heard of this move, or is it something the developers are keeping quiet about in order to keep 'control' over their customers for as long as possible.



Info appreciated thanks.

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
06/05/2011 21:14

I think you may be referring to this which i read early last year but have not heard anything since -





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Government to Introduce New Law on Separate Title Deeds

2010-03-24

The TRNC Government is currently in the process of passing new legislation which will enable separate individual title deeds for properties being built on complexes to be issued as soon as the project commences. The draft bill has been approved by the Council of Ministers and has been passed to Parliament for approval before becoming law. The current proposals would mean that purchasers of off-plan properties in Cyprus would be able to take title to their property immediately on purchasing before the construction has even started. This would help to ease the current problems which may purchasers are experiencing with rogue builders who are refusing to hand over title deeds to completed properties or

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
06/05/2011 21:17

the construction has even started. This would help to ease the current problems which may purchasers are experiencing with rogue builders who are refusing to hand over title deeds to completed properties or demanding additional payments from purchasers for the title deeds or who have taken out mortgages over properties preventing the transfer of title from taking place. The Government also hopes that this will pave the way for a new ‘mortgage’ system to be introduced into the TRNC to allow banks to provide mortgages to purchasers. Mortgages on off-plan developments are not possible under the current system because purchasers are unable to take title until the construction is complete when the separate title deeds are issued. Issuing title deeds at the start would allow purchasers to take title and finance the purchase through a mortgage from the bank which can be registered over the purchaser’s own individual title deed for the property. It is hoped that this new legislation will help

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
06/05/2011 21:19

they can't be arsed to water the palm trees - so what chance that new law ??

TRNCvictim


Joined: 17/08/2010
Posts: 1417

Message Posted:
06/05/2011 21:40

How can anyone but Turkish Cypriots get their title deeds on commencement of the build without Permission to Purchase?



negativenick (mess 4)



I would think watering palm trees, was way down the governments "Things to do List"



(I think I'm more negative than you)!

harryc


Joined: 12/06/2010
Posts: 21

Message Posted:
07/05/2011 12:05

Now come on chaps, its my thread so lets keep to the topic.



Cooper, thank you for your help. Yes this sounds about what I heard although my interest is not so much in off-plan purchase as more established builds. I am being pressed to invest in a substantial site which has several phases of development. The first phase has PtP's, all services and occupied for two years, and the new 'rules' appear to apply to this situation, as the phase can even easily be parcellised as it is. But the developer has little or no contact with purchasers, not even running a management committee which I believe is another new requirement too. People I know on the site are afraid to push the issue, but surely if the law allows issue of kocans then there should be no impediment ?



I think I remember Elko having a similar story for a house he bought a while ago. Perhaps he is up to date on that aspect ?



Thanks again anyway, all pertinent contributions welcome.

clive-tpc


Joined: 02/02/2011
Posts: 25

Message Posted:
07/05/2011 20:30

on a project that has completed properties you can obtain partial final approval so kochans can be issued for those properties there are conditions depending on site size quantity and if it is a single title or multi kochan developed..i have completed this on 5 projects for clients.. so i know this can be completed recommend you visit the the planning department or kymerkarmlic to get answers on your project you need you file numbers and permits





hope this helps

harryc


Joined: 12/06/2010
Posts: 21

Message Posted:
08/05/2011 10:50

Thanks Clive, so the theory is correct !

You do not say in which capacity you have acted for clients but I would guess as a lawyer?

I appreciate the detail you suggest, but I contend that as the properties are already in the hands of owners - even if some are absentee investors - then the kocans should already have been provided by the developer. Why should I have to do all the detailed legwork?



But this appears to be where the problems begin, in that the developer is stonewalling on the issue, and I suspect he is not complying with the law. I assume that with PtP numbers issued there are no debts lodged against the properties, so can see no reason for witholding, except of course for the usual developer's will to 'control' new owners as if they are tenants.



I had hoped for a handful of responses from owners on the larger developments who had achieved success in issue of kochan before the whole site was completed. Perhaps it confirms my suspicion that they are few and far betw

suehowlittle


Joined: 31/10/2010
Posts: 1202

Message Posted:
08/05/2011 18:09

Wish I could get my |Kocan, its 5 years since this site was finished, not even got water yet.



At least its the landowners who still hold the Kocan so no memorandums can be taken using our homes as security. They are lovely people and say when the builder puts right the faults in their house which was payment for the land, then they will sign it over.



Personally, hope they never sign it over to the builder, then we WILL be worried.



Is there really a way to just get mine? I do not think anyone else cares, they have all taken the builder to court for houses not built to specification etc and won their cases, the builder now has to sell them all over again (if he is lucky) to pay these owners - so obviously they are not interested in the Kocan.



I really would appreciate positive answers here. I think one of the posts was Clive at the Property Centre, I would love to hear what you can do in these circumstances.

clive-tpc


Joined: 02/02/2011
Posts: 25

Message Posted:
09/05/2011 07:53

good morning



no i am not a lawyer....i have developed my own projects and advised other project owners....i ahve been here for 10 years and have worked with the departments for 7 years so i khow the process ...as they all say its what you know but also who you know..it helps

clive-tpc


Joined: 02/02/2011
Posts: 25

Message Posted:
09/05/2011 07:57

good morning



there is posible ways to deal with this matter i try not to involve the legal route as this can take years...if you would like to meet i would be happy to take a look at your paper work and make some calls to find uot what can be done

harryc


Joined: 12/06/2010
Posts: 21

Message Posted:
09/05/2011 21:04

Thanks Clive.



Its not so much who one knows as getting the developer to acknowledge that he has to co-operate. Talking to owners this appears to be the problem. He declares ignorance of the new law so therefore will not talk about it. Perhaps he is thinking up a wheeze to charge an additional fee even though his original purchase contract clearly reads that the cost of kocan is included and there will not be any further charge for it. He is aggressive enough towards his customers that no one dares challenge him legally. Hence my original question to ascertain that this is in existence. I still find it strange that others purchasing elsewhere who have achieved this under the new law have not come forward !