Freehold Title Deeds
There have been many stories and news items about title deeds in North Cyprus. Not unnaturally, most prospective property buyers will try to understand why so many different versions of the facts are talked about.
Most of the issues under discussion arise from the division of the island in 1974 and claims to property ownership made by Greek Cypriots in respect of land left behind when they, or more likely their forebears, removed to the south. It is often not mentioned that the same thing happened to a number of Turkish Cypriots displaced from their homes in the south. The truth is that this was a very unfortunate period in the history of Cyprus. The bottom line now is that this is The Turkish Republic of North Cyprus. There is only one freehold title that you can buy and that is The Turkish Republic of North Cyprus Freehold.
This TRNC Freehold title deed can be broken down to four possible variants, one of which will apply to your purchase. These are:
Pre. 1974 Foreign Title.
This applies to land or immovable property that was owned by a foreign national before 1974.
Pre. 1974 Turkish Title.
As the name implies, this applies to land or immovable property owned by a Turkish Cypriot before 1974.
TMD Title.
This applies to land given by the government to Turkish and Turkish Cypriot people after 1974 for military service and to encourage settlers. This was to promote and encourage economic progression.
Exchange Title.(Esdeger)
This applies to land or property awarded by the government to a Turkish Cypriot in exchange for land or
property they were forced to leave behind when fleeing the south in 1974.
All of these versions of the TRNC title deed can be considered safe to purchase but as with any property purchase, it is most important that the prospective purchaser employs a local solicitor well versed in the property and land laws. They will be able to assure you that your intended freehold is legitimate and clear of any debts or liens. Busy Bees Estate Agents can introduce you to such solicitors if required.
Buying Leasehold Property.
The actual process for buying leasehold is similar to freehold but the application is made to the Ministry of Tourism rather than the Ministry of the Interior. This is effectively obtaining permission for you to purchase property in North Cyprus. Again it is highly recommended that a good local solicitor is employed from the start.
New Build Purchases.
When buying off plan for a new build property it is normal to agree a staged payment plan. Your solicitor will draw up a contract detailing price, specifications, payment plan and timescale. For more on buying off plan click this link.
If you have any questions regarding buying in North Cyprus not included in this overview, please contact us and we will do our best to answer them.