Are you safe buying in North Cyprus if the deeds are ready?

jamestalbot


Joined: 20/12/2009
Posts: 958

Message Posted:
10/02/2010 11:26

Is it safe to buy in TRNC if the deeds are already in place? or isit better to rent long term?

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
10/02/2010 11:41

Rent long term........a very long term.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
10/02/2010 12:03

What type of title deeds are you talking about?



Any TRNC issued title deeds are not recognised internationally - only by TRNC & Turkey.



Esdeger or 'Ech' (Exchange) land, it has been ruled by UN, etc., still belongs to whomsoever owned it prior to 1974 (the date of the Turkish 'intervention').



Be aware of the British & Commonwealth Office guidelines re property purchase island wide.

jamestalbot/Msg 1:



Pre 1974 Turkish Title Deeds: Only Turkish Cypriots can receive the Kocan (Title Deed) to these properties.



Since 2005, no foreigners have been granted PTP (Permission to Purchase) by the TRNC Council of Ministers - usually the excuse given is: 'Proximity to military installation' - therefore, without PTP it's impossibe to get the Title Deed.



British Title Deed: To source one now is nigh on impossible and, if available, the cost is astronomical.



Ignore this advice at your own risk!

CarrieRBag



Joined: 23/12/2008
Posts: 1374

Message Posted:
10/02/2010 12:05

Our friends have had their deeds for sometime and they bought after 2005?

biglugs


Joined: 02/10/2008
Posts: 157

Message Posted:
10/02/2010 12:14

i have my PTP bought 2007!!!!!!!!!!!!!!

StGeorgeI


Joined: 27/08/2009
Posts: 973

Message Posted:
10/02/2010 12:26

You are talking rubbish Tenakoutou - we signed our contract in late 2007 and got our PTP last summer. In fact hundreds, maybe even thousands, of PTP's where issued last year.



Get ya facts right mate!



G

millzer


Joined: 12/04/2007
Posts: 978

Message Posted:
10/02/2010 12:43

I would guess that tena is referring to pre-74 Turkish title deeds only and not Esdeger/TMD st al

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
10/02/2010 13:05

If they bothered to read the post properly, of course they would see that I am clearly referring to pre '74 Turkish Title deeds.



If anyone, after 2005, has been granted PTP on the above, then it's more than likely that their deed is not genuine.



Perhaps Elko 2 would like to comment............... ?

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
10/02/2010 13:15

jamestalbot





Its deeds we are talking about. PTP just means you have permission to put the Deeds in your name when you eventually get them. How long you have to wait for ownership bears no relation to how long it took for PTP.

PTP is determined by the Govt.Title transfer time is determined by developer/builder, if new build,



You are definately safer with ready built with title in owners name, as you can presume that all is in order,and the owner can immediately allow transfer in your name when you purchase.



Its obviously better to rent, especially if you dont intend staying full time,but even if its full time ,most people now would say rent for a while first.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/02/2010 19:40

Rent most certainly. The TRNC is stunning and a lovely place to live with friendly people. But why buy in the current climate? Hold off and see what the future brings. Do not believe that it is OK to buy pre 74 title deeds as you won't get your PTP and then you can't get your title deeds. This means that your builder will continue to own the property even though you have paid in full.



Message 3 is spot on. A trip to the HPBG would prove that this has been the case for many.

beno12



Joined: 03/04/2009
Posts: 124

Message Posted:
10/02/2010 21:43

Then I won the pools back in 2000 eeee have pre '74 Turkish Title deeds receaved PTP 2001. Biult on the land 2005

receaved the House deeds (Kocan)2006,



One of the lucky ones for eg the land the other- side of the road from where I biult was Greek farm land ..thank god I went for this side of the road being Cyprus Turkish mind you I did,nt know this at the time when I bought the Land..



I was a lucky bugger...

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/02/2010 21:50

Well done Beno,

right choice, right timing!

beno12



Joined: 03/04/2009
Posts: 124

Message Posted:
10/02/2010 21:54

Thanks Bradus,

I was very lucky...