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dekski
Joined: 08/11/2008
Posts: 142
Message Posted:
27/07/2011 07:34 | | Join or Login to Reply | Message 1 of 5 in Discussion |
| We got our PTP six months ago for house on plot with seven others. We were asked by the lawer if we wanted to go ahead and get the individual title deed, we paid the monies and were told it could / would only take a few weeks! Then we were told it would take another three months, then after four months after we asked were told to wait for TAPU to sort things out and any visits to them would not speed things up. Have been offered shared title now. Is it worth having? What can be done now if anything? |
pc4854
Joined: 23/08/2009
Posts: 243
Message Posted:
27/07/2011 08:19 | | Join or Login to Reply | Message 2 of 5 in Discussion |
| Not absolutely sure about this information but pretty certain it is correct as a friend of mine has a similar purchase. I believe that this is a fairly new idea by the authorities in that the deeds for the whole of the property is transfered into the names of the individual owners as an entity, so that they do actually own the property. This is not a final position, in that you will then have to parcelise the land between you at a later time but in the meantime you do all own your places and no one can mortgage or do any other nefarious activity with your property. It is a step in the right direction and provides you with safety. Please check this advice before you decide. Best wishes. |
Tenakoutou
Joined: 27/07/2009
Posts: 4110
Message Posted:
27/07/2011 09:17 | | Join or Login to Reply | Message 3 of 5 in Discussion |
| While anyone doesn't have citizenship it is impossible to have ownership of any property in TRNC - when will people realise? |
Molly
Joined: 30/08/2008
Posts: 299
Message Posted:
27/07/2011 11:02 | | Join or Login to Reply | Message 4 of 5 in Discussion |
| Having a share is better than nothing. |
Jonesy299
Joined: 07/02/2009
Posts: 367
Message Posted:
27/07/2011 11:58 | | Join or Login to Reply | Message 5 of 5 in Discussion |
| We went through this process (shared then parcelised to single property). It can take a while and I concur with other posters that this is better than not having any Kocan issued (affords you greater protection under local TRNC law), especially if you wish to sell on at a later date. |
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