The Property Buying Procedure in Cyprus: A Legal Guide
Written by George Kazoleas, Lawyer in Cyprus The process of purchasing property in Cyprus differs significantly from the corresponding procedure in other countries. Crucially, the transfer of ownership in Cyprus is not subject to a notarial deed (there are no notaries in Cyprus), which necessitates particular attention and thorough due diligence on the part of the prospective buyer. Paradoxically, within the jurisdiction of the Republic of Cyprus, it is possible to sell a property that does not yet possess a title deed. This practice results in the distinction of property transfers into three (3) main categories: Purchase of property with immediate title deed transfer. Purchase of property via a Sale Agreement (Πωλητήριο Έγγραφο - POE). Purchase of property through the assignment of a Sale Agreement. Drafting and Depositing the Sale Agreement with the Land Registry The existence of a property's title deed represents the most secure option for the buyer, as it ensures th...