Shared title deeds

cypruslynx


Joined: 08/10/2007
Posts: 14

Message Posted:
08/10/2007 15:16

Good Morning



I have purchased a property in TRNC only to now be told I have a shared title deed. I am unsure what the implications of this may be, as it was not what I was expecting to get. I wondered if anyone on this board could explain about a shared deed and how I would go about getting the deeds split into individual ones .



Up until now I have only been a "reader" of the posted topics on this board. I am impressed by some of the knowledge of some people and would be grateful for any impartial advise.



Thanks

ukturk



Joined: 01/09/2007
Posts: 1974

Message Posted:
08/10/2007 23:05

hi cypruslynx

and welcome to the forum

if i have understood you right ill try and answer to the best i know.

firstly if you bought a apartment in a block in most cases you would have a shared title deed meaning you own a percentage of the block i.e your apartment if it is all legal and above board it is fine as long as you recive your own kocan for the property and thus stating if their is 8 apartments you own 1 of them.

if you have bought a villa on a complex same kind of thing it should state you own a percentage of the land on the complex and the house that stands in it



only the developer or land owner can have deeds split because before they build they apply for permission to build and that they can split the land between the eventual buyers

my best advise thou is to consult your lawyer because you should have been made aware of all these things before you even put your name on the contract

and contact your agent or developerif you dont undrstand nothing which you should do these things straight away just for peace of mind

good luck and post back to say how it went

cypruslynx


Joined: 08/10/2007
Posts: 14

Message Posted:
09/10/2007 16:51

Thanks ukturk



Your advise is appreciated. I will speak with the lawyer when next over there.



By the way, thank you for your welcome

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/10/2007 00:23

hi cypruslynx and welcome to the forum. Seems that uturk has answered your questions. I know in our contract it states that the vendor undertakes to persue and to obtain shared title deeds for the plots. I assume that an apartment would have to have shared as there are communal areas and shared land so this is why it is done? Where are you buying?

dodger



Joined: 29/07/2007
Posts: 1895

Message Posted:
10/10/2007 00:27

beat me to it good luck cyprus lynx

cypruslynx


Joined: 08/10/2007
Posts: 14

Message Posted:
10/10/2007 21:43

Hi Bradus



I bought in 2004 and it has taken this long to get our deeds, which I hope to pick up on my next visit.



It is a villa which I am now being told is on a shared title deed with two other properties. Is this something you have heard of before? Do you know a good lawyer..... I might need one.!

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/10/2007 22:57

Sorry Cypruslynx haven't heard of this before except in apartments. Are you in touch or do you know the other buyers? Might be worth getting their take on this? no idea as to who is and who is not a good solicitor as the more you read these posts the more conflicting it becomes.

cypruslynx


Joined: 08/10/2007
Posts: 14

Message Posted:
11/10/2007 00:07

Bradus, I know what you mean. Thanks for your thoughts.