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Although Cyprus has joined the E.U some things of old remain stuck in the old ways. The local land Registry offices run very efficiently and effectively and one could argue that there should not be a Title Deed Problem. To expand: The Title deeds problem revolves around a number of factors and at the heart of the matter is money, pure and simple. The problem is issuing of your own title should be a matter of ease and one should after property purchase and paying all your money own the right paperwork’s for your home. What has happened in the past is developers buy and build massive or not so massive projects and take out a mortgage on all the land that “X” amount of houses are built upon. The problem now arises to divide land on which a mortgage exists on the whole. Some unscrupulous developers of course never issued deeds no matter instead charging cancelation fees when a property was resold to another poor buyer. Recently laws have come into place that can force developers into issuing separate title deeds so there is some light for thousands of buyers who do not have their own piece of Cyprus. Of course all this adds to the massive paperwork backlog recognise by government. Again recently there has been an effort to reduce the title deed pile by offering incentives to process related paperwork’s but the incentives of overtime were not enough and the pile remains.
What can be done to combat this well known and publicised problem? Well one way is to buy a house that has full title deeds available and ready, as a rule of thumb an older village style house that has been around for hundreds of years should logically have a ready title deed, but not necessarily of course! So to counteract all potential problems the key to a successful property purchase is a quality lawyer. An independent Lawyer and one that is on your side and can subsequently check that all necessary paperwork and stamps fees ect have been checked.

We know of course when we take on a list a property via the estate agents websites if the listing carries the correct paperwork’s or at least where the paperwork trail is at!
To be fair in the last year there has been an effort on the official side to correct this problem but there are plenty of politics ahead! The problem is well documented and as such has a huge impact on the Cypriot economy so basic theory tells us that when there is no title deed problem there will be more interest and investment and property movement for everyone.

Example of a Cypriot Deed:

Title deeds Cyprus