Hi susi,
There is a substantial backlog for issuing Titles to properties in Cyprus. Its not unusual to wait up to 10 years. Personally, I took matters into my own hands and badgered the land registry on a regular basis to move the process along. However, it has so far taken 4 years and I am expecting my Title in 08.
I would be much more concerned that your developer has a mortgage on the land. One way to overcome this is to ensure that your ownership ( signed sales contract) is lodged with the land registry. Even then if the developer goes tits up you will lose everything. But at least he cannot remortgage again as there will be a charge on the land registry file.
Kismet
Quote:
Originally Posted by susieV3
Hi
Purchasing & have found out Developers still have the land the complex is built on mortgaged......(which they lied to me about!)...Large developer so I thought I would be ok......holding back my deposit at moment, but have paid Resv fee and signed Sales Agreement...............I do have a good Solicitor (Now!) looking into this but just wondered if anyone has managed to get in writing confirmation of dates their Title Deeds will be released????
Any advise would be helpfull, as I DO want the property, but not on their terms!..........I want some proof I WILL get my Deeds!
thanks
susie V3
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