Can PTP be transferred

juliachcc


Joined: 15/04/2009
Posts: 79

Message Posted:
25/05/2009 14:54

Hi everone



I was wondering: If you already have PTP, but decide that you would like to buy another property, is the PTP still valid, or do you have to go through the same process again?



Am I right in thinking that PTP is to check if you are suitable (no criminal record) to buy in TRNC?



Many thanks



Juliachcc

twoexpats


Joined: 09/04/2009
Posts: 189

Message Posted:
25/05/2009 15:02

My understanding is that the PTP approves one to purchase a specific property and is not a general approval of your suitability to purchase any property. I think the short answer to your question is therefore, no. I am sure those more knowledgable on these matters than I will confirm my opinion.

mitsi


Joined: 14/08/2008
Posts: 345

Message Posted:
25/05/2009 15:05

What a ridiculous system! Either you are granted permission to purchase or not. Let's hope that this new government will deal with this issue asap. Everything is so ass about face here.

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
25/05/2009 15:06

msg. 2 spot on. The new law abolished PTP but it is with us until regulations are made under the new law which will specify which areas can be leased or bought freehold by the foreigners. However, as far as I can find out, there is no study under way for the new regulations.

ismet

scoobydoo


Joined: 10/11/2008
Posts: 2434

Message Posted:
25/05/2009 16:01

We found ourselves with a ptp issued on our last property, even though we had told our solicitor to cancel it, we didn't want it nor did we transfer any kocan into our names.



So when we bought a plot of land last year our new solicitor had to go through the process of cancelling our issued ptp, which is important so that we didn't get any further hold ups when applying for our new ptp on our new land.

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
25/05/2009 16:32

msg. 5

Scoobydoo,

You may not appreciate it but your previous lawyer did you a favour by not cancelling your first application. Once your security clearence is through, it is so much easier and quicker to cancel the original PTP and ask for a second one.

ismet

scoobydoo


Joined: 10/11/2008
Posts: 2434

Message Posted:
25/05/2009 16:36

Thanks for the ismet, I will eat my words about my previous lawyer!



I will contact my new one and chase my ptp, still hoping it will come through before the 30th June 09.



Have you seen any indication that this deadline will be extended once again?

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
25/05/2009 19:37

msg. 7

The Council of Ministers had extended it from 30th May to 30th June. The funny thing is that the COM had no such legal powers. Extension can be done only by act of parliament. So if the new government is any more knowleagable, the COM should not extend it and it takes time to go through the parliament. So forget the extension.

ismet

scoobydoo


Joined: 10/11/2008
Posts: 2434

Message Posted:
25/05/2009 19:38

Thanks ismet

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
25/05/2009 20:30

ptp applies to the person as well as the actual property - if you decide not to proceed, getting another PTP will be easier as the "personal" side will have been done, but there will still have to be checks on the property itself.....





nick

juliachcc


Joined: 15/04/2009
Posts: 79

Message Posted:
25/05/2009 21:40

Thanks everyone for the info.



I was thinking of selling the land I brought, and perhaps buying a re-sale. This is why I asked the original question.



Juliachcc

colly


Joined: 31/07/2008
Posts: 297

Message Posted:
26/05/2009 10:31

Unless it has changed my understanding is that you cannot apply for another permission to purchase as you have one in your name already!

Col

scoobydoo


Joined: 10/11/2008
Posts: 2434

Message Posted:
27/05/2009 13:14

Thats what we were told colly, which is why we had to get our previous one cancelled.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
27/05/2009 13:34

Ismet may I ask a related yet slightly different question about PTP? What happens in the event that the property owner dies and leaves the property in their will to their children. Do the children, as the new owners of the property, have to apply for PTP in their own right? In this particular instance, the kochan is not in the name of the deceased.

Thanks.

Jo

Molly


Joined: 30/08/2008
Posts: 299

Message Posted:
27/05/2009 17:37

If the property is bequeathed, PTP is not required. If you wanted to gift the property to your children, PTP would be required.

joandjelly


Joined: 24/02/2008
Posts: 2953

Message Posted:
27/05/2009 18:01

Thanks Molly.