Title Deeds

corbytown


Joined: 05/08/2008
Posts: 327

Message Posted:
14/11/2008 12:53

may i ask the forum ( i know its been asked probably a hundred times before ) once you pay your VAT payment do you receive your deeds ?



Can you hold back on the vat payment until your deeds are there ?







As you can probably guess, my builder is asking for my vat payment

lovingthesun


Joined: 13/11/2008
Posts: 61

Message Posted:
14/11/2008 13:02

Best to check with you solicitor, but i was told the builder is within his rights to ask for the VAT once your property is completed.

Stewart


Joined: 19/07/2008
Posts: 1107

Message Posted:
14/11/2008 13:15

Have you "registered" your property?....this will put the property in your name as I understand it and the cost is relatively small if you do it yourself.



Once registered you can then feel secure...am I correct or does anyone else know different?

lovingthesun


Joined: 13/11/2008
Posts: 61

Message Posted:
14/11/2008 13:26

No if you have paid the 0.5% and regd your property than no charges can be placed on your property. This is entirely different to the VAT



You must remember though if you are selling your property and you have not received your title deeds, you need to get the original owner (usually the builder) to sign the contracts. The builder does not gain anything by signing this for you so i would probably try and keep them on your good side!

the butler


Joined: 22/06/2007
Posts: 1958

Message Posted:
14/11/2008 13:30

Hi Corbytown,



We paid our VAT two and a half years ago but we still haven't got tite deeds. It is a long process to getting title deeds, especially if you have bought on a complex or an estate with a number of houses built on one title deed. You have to have parcellisation carried out first. Registering your property, only means that your builder cannot take out a mortgage on that property once you have done this. Some people are finding that there is already a mortgage on the property when they go to register it. This means the lender has first call.

It is important to register your property and should be done as soon as contracts are signed.



The Butlers wife

sunnyday


Joined: 14/03/2008
Posts: 269

Message Posted:
14/11/2008 13:46

Corbytown,



The rules changed earlier this year re VAT. Previously you paid it when you got the deeds & you paid it usually on a valuation. Now it is payable when you take possession ie get the keys & it is calculated at 5% of the contract price.



However make sure that you get a fatura (official VAT invoice) when you pay the money. This is needed to get the deeds & should have a government stamp on it.

corbytown


Joined: 05/08/2008
Posts: 327

Message Posted:
14/11/2008 14:02

thanks all for your input,

yes we have registered the property but like anyone who buys property i would feel more secure with the title deeds !

cocos


Joined: 04/04/2008
Posts: 129

Message Posted:
14/11/2008 16:12

Because there's no specific performance law protection in the law for buyers the rogue developers are withholding the kocans from their buyers, even though they may have paid their taxes and the full amount for their villas. Laws need to change, the government needs to change and pressure needs to be put on the conmen builders/developers who are purposely withholding the deeds from their customers.

mitsybrian


Joined: 16/05/2008
Posts: 40

Message Posted:
14/11/2008 17:52

If you have problems with Deeds Kocans , please

Try Prime Ministers Office Homebuyers for results

http://www.trncproperty.eu Miss Tugue Valkan Tel 0392283141 ex 188

Very helpfull staff and on the house buyers side

cocos


Joined: 04/04/2008
Posts: 129

Message Posted:
14/11/2008 18:53

Sadly although the PCO are very helpful and I still think people should register complaints with an official body, they have no legal clout and if the builder refused to give out the deeds, the PCO nor anyone else can make them at the moment until the laws are changed and enforced.