Property contracts in north cyprus
You will require a Turkish Cypriot lawyer to act on your behalf for the property purchase. The lawyer will then make checks on the property or and to ascertain that the relevant building permits are in place, verify the property’s shape and boundaries, and search with the land registry to make sure the property or land being purchased is clear from any influence that may affect property value.
Once the property or land has gone through all the relevant checks a contract will then be drawn up between yourselves and the vendor. A time frame of purchase will then be agreed between both parties and contracts will then be signed.
Your chosen lawyer will then apply to the Ministry of Interior for a purchase permit. This may take between 18 -24 months. To secure your interest during this time your lawyer will register your contract with the land registry. Once this permit has been issued, the purchaser and the vendor are entitled to transfer ownership. The purchaser would need to be in Cyprus to sign the relevant papers on the change of ownership. In a case where the purchaser is not in Cyprus at the time of the transfer, a power of attorney may be issued in favour of the purchaser’s local solicitor and the property transfer may be executed in this way.