What documents should you receive?

Dreamydiver



Joined: 30/08/2010
Posts: 306

Message Posted:
17/01/2011 21:13

Once the monies have changed hands and Kocani presented what other documents should your advocate give you?



Also, how can you check the progress of your PTP other than phoning or visiting the Ministry for the Interior offices?



Finally, how can you prevent (at least find out whether) the developer has taken out a memoradum after the Kocani has been signed?



thank you

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
17/01/2011 21:32

You cannot prevent a memorandum from being placed on your property, you don't own it , even with your registered contract. You only legally own it when you get your deeds. Whilst waiting for your PTP, which can take anywhere up to 2 years , any debts owed by the builder can be pursued by way of a memorandum on your property.All you can do is keep checking before handing over any further money.



You have to hope that you have a honest and financially secure builder because at the end of the day, this is what it really comes down too.



You can take out a mortgage on your property until deed handover is completed but this can only be done with the vendors permission and as it puts the builder in a very vulnerable position, most will not agree. It is also an expensive option and will cost you several thousands.

Dreamydiver



Joined: 30/08/2010
Posts: 306

Message Posted:
18/01/2011 10:06

thank you, understood that. Would like to know how to check that a memorandum hasn't been applied after contract, cant top it but would like to know asap should it occur.



How to chase check PTP progress please?



What paperwork (turkish with translation would be fab) should we get after contract is signed please?

honestie


Joined: 22/02/2009
Posts: 468

Message Posted:
18/01/2011 12:22

if buying off plan then contract signed stamped registered at land registry at that stage if theres any memorandum or morgage on it will show then. If not and all seems to be going to plan ie stage payments etc and your ptp applied for you can ask your solicitor to make land searches periodically or can be done yourself for a fee and that should and say shoud keep you uptodate of any memorandums etc



the problem is noone will know what is in the pipeline re any debts your landowner has and can spring up at any time without you knowing and until you have the kocan or shared kocan in your hand you are flung to the wolves so to speak. You can ask the solicitor to place a charge on your share but you will have to take advise on that one



It was said that the registration of contracts took precedance to memorandums but still testing that one as I am at the moment. If your contract is registered before any memorandum is place it does stand you in a better position hooe that helps

Dreamydiver



Joined: 30/08/2010
Posts: 306

Message Posted:
18/01/2011 13:10

Thank you Honestie. We have just been informed that whilst the contract was exchanged last dec and the PTP paperwork handed in, the Ministry is now taking up to 2 months to process and provide a reference number.



I wonder why! I had heard that it is 'considered' safe(er) to have the PTP (this is the registration of contract?) in place in case a memorandum is later applied....though, surprise surprise, no guarantees.



If this is the situation you are now in ...I truly wish you good luck, it must be terribly stresssful for you.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
18/01/2011 14:44

Have a look at this website http://www.hbpg-trnc.net/ You will find all you want to know under Information tab.

honestie


Joined: 22/02/2009
Posts: 468

Message Posted:
18/01/2011 15:14

PTP is the permission to purchase which has nto be obtained before kocan,deeds,can be exchanged. the registration of contract has is seperate from the Permission to purchase.



It is the waiting for the permission to purchase to be obtained that is when the damage can be done as it is it is whilst waiting for the permission to purchase that the land is still\in the name\of the kocan holder and any debt durintg that period that he owes means someone can obtain a court judgement against him and put a memorandum on his assets which is your property you have paid for.!



That is a worse senario and it doesnt happent to all but when it does and it has to many then yes it is stressful so discuss all with your solicitor who is all to well aware if the situations and hopefully is honest and speak to the people on the link given above.



If you want to ask more email me as am in the middle of a case and its amazing what I have learned and yet nothing surprises me