permission to purchase in Northern Cyprus

crazyblonde


Joined: 11/07/2010
Posts: 3

Message Posted:
30/06/2011 14:17

Hi Guys

have just received our permission to purchase, what does this mean? so many conflicting opinions,

I suppose what I really want to know is if my developer goes bankrupt or similiar can they take the villa off us as part of his estate.

after 5 years don't seem to have progressed very far!

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
30/06/2011 14:28

Now you can apply for your deeds from the builder but first you need to search to make sure there is not a mortgage or similar on the land. If you have registered your contract at the land office they can tell you about this or a solicitor will do it for you.

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
30/06/2011 16:07

I would agree that you get the kocan in your name asap. I suspect your builder will plead poverty and want you to pay his tax as well. To get peace of mind I'd pay it.

crazyblonde


Joined: 11/07/2010
Posts: 3

Message Posted:
03/07/2011 19:28

thanks for you replies, a figure of 15% of the purchase price is being bandied about, i suppose i will sleep better if kochan in my name, not sure about my bank though!

misunderstood


Joined: 08/04/2011
Posts: 1004

Message Posted:
03/07/2011 20:26

There is probably (or should be) a clause in your Contract that says your can now ask your builder/landowner to transfer tiltle within a set time period (mine was a week for all the good it was).



Remember if your house is completed, try to get the land with the house on it transferred into your name, one exercise instead of two of course this could involve parcelisation. Unfortunately, the majority of people only end up with the land on the Kocan and later have to go to the expense of having the house included too, that is if they bother.



Whatever, get the Kocan into your name even if it is only the land, better safe than sorry. If you registered your Contraact in 2008, you would have been told about any mortgages, however there is always the possibility of Memorandums after that date. Good luck.

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
03/07/2011 20:30

misunderstood



what expenses are involved re your 2nd paragraph?

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
04/07/2011 10:02

misunderstood



I think you will find that not registering the house on the Kocan you may have difficulty when you come to sell the property.