Buying a property - Legalities

Find out about the laws within the TRNC: Residency, Home Ownership, Work Permits, Visa's, Licenses, Speeding...etc.

Moderators: Soner, Dragon, PoshinDevon

Post Reply
User avatar
Rafferty
Kibkommer
Kibkommer
Posts: 109
Joined: Sat 25 Oct 2014 5:48 pm

Buying a property - Legalities

  • Quote
  •   Message 1 of 5 in Discussion

Post by Rafferty »

Hi, if a property is purchased outright with a 'Korcan' is it 100% guarenteed that you own
that property. No one, ie from South Cyprus can have claim to it ?
Thank you

User avatar
Rafferty
Kibkommer
Kibkommer
Posts: 109
Joined: Sat 25 Oct 2014 5:48 pm

Re: Buying a property - Legalities

  • Quote
  •   Message 2 of 5 in Discussion

Post by Rafferty »

Has no one got an opinion on this ?

Deniz1
Kibkommer
Kibkommer
Posts: 5119
Joined: Sat 07 Apr 2012 11:22 am

Re: Buying a property - Legalities

  • Quote
  •   Message 3 of 5 in Discussion

Post by Deniz1 »

Not an easy one to answer. some people have had a Kocan in their name but were taken to court by Greeks who won the case and so lost their home. But it is rare.

brian24001
Kibkommer
Kibkommer
Posts: 268
Joined: Sun 30 Mar 2014 11:22 am

Re: Buying a property - Legalities

  • Quote
  •   Message 4 of 5 in Discussion

Post by brian24001 »

Based on the lack of knowledge of owning here, and from your other post about residency, can I suggest you rent for at least a few months first.

Might save a whole lot of heartache down the line.
The wife keeps complaining I never listen to a word she says ............. or something like that.

User avatar
waz-24-7
Kibkommer
Kibkommer
Posts: 1151
Joined: Sun 24 Aug 2014 2:37 pm

Re: Buying a property - Legalities

  • Quote
  •   Message 5 of 5 in Discussion

Post by waz-24-7 »

There have been many years of warnings, scares and nervousness.
Some 10 years after the Annan plan was rejected, the ECHR, Immoveable property commission, South side litigation threats have all made for a confused state within the property market.
Right now I feel that with a Kocan things are pretty safe from most gremlins like stealth mortgages, South side litigation, Orams type claims.
The biggest risk is from unscrupulous advocates who still work too closely to estate agents and builders.
Do your research check the Kocan at the Tapu. Talk to the builder/developer and challenge them on contractual obligations. Speak with local people and neighbours to secure an insight upon any issues with developer, beledisi,Water, and electric.
Part with NO money until you are sure and only pay when works have been done to your satisfaction.
ALL things considered its much better and getting better.

Post Reply

Return to “LAW - Kibkom North Cyprus Forum”