Site Division Title
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- Kibkommer
- Posts: 138
- Joined: Mon 29 Jun 2015 1:52 pm
Site Division Title
Can anyone offer an explanation as to what this type of title involves? What are the main differences from a standard kojan?
- Keithcaley
- Verified Member
- Posts: 8083
- Joined: Sat 21 Apr 2012 6:00 pm
Re: Site Division Title
Very little practical difference.
The site plan will still show your 'share' of the total site, and you will have an individually numbered Koçan in your name.
The main caveat, as I understand it, is that if you want to 'do' anything to / with your property - e.g. make alterations, sell it, whatever - then you are supposed to seek the agreement of the other holder(s) of koçan(s) on the same plot. The same applies to them, of course.
I am advised (by a chap at the Land Registry) that in the event that such agreement was not reached for any normal request, then a TRNC court would not impede you.
So, if you want to build a modest garage, conservatory, car porch, or sell to a private buyer, you should not experience any difficulties.
If you want to convert the premises to a Brothel, Water Park, Fireworks factory, or something equally outlandish, then you'd better get really well in with your neighbours
You should really seek qualified advice on this, of course, my opinion is just that - an opinion!
The site plan will still show your 'share' of the total site, and you will have an individually numbered Koçan in your name.
The main caveat, as I understand it, is that if you want to 'do' anything to / with your property - e.g. make alterations, sell it, whatever - then you are supposed to seek the agreement of the other holder(s) of koçan(s) on the same plot. The same applies to them, of course.
I am advised (by a chap at the Land Registry) that in the event that such agreement was not reached for any normal request, then a TRNC court would not impede you.
So, if you want to build a modest garage, conservatory, car porch, or sell to a private buyer, you should not experience any difficulties.
If you want to convert the premises to a Brothel, Water Park, Fireworks factory, or something equally outlandish, then you'd better get really well in with your neighbours
You should really seek qualified advice on this, of course, my opinion is just that - an opinion!
- waz-24-7
- Kibkommer
- Posts: 1151
- Joined: Sun 24 Aug 2014 2:37 pm
Re: Site Division Title
Most building developments start as single title kocan owned by the builder, land owner or other singular.
This immediately presents risk to buyers of property within that Kocan as there is no title to ownership at all. A contract of sale is worth very little.
Upon start of building works and or contract of sale ONLY . A shared Kocan emerges on which each interested party has a share of the Kocan. This is shown on the Kocan as a fractional ownership of the land ONLY
This significantly reduces risk but split ownership can lead to mortgage , boundary, access and or other potential issues.
Upon final completion and ONLY when surveys and building inspections have taken place and accepted by TAPU then PARCELISATION takes place which finally produces individual Kocans. This document is KING and shows each individual plot boundaries and lists the building details.
This is the document that has absolute title under TRNC law ONLY.
This immediately presents risk to buyers of property within that Kocan as there is no title to ownership at all. A contract of sale is worth very little.
Upon start of building works and or contract of sale ONLY . A shared Kocan emerges on which each interested party has a share of the Kocan. This is shown on the Kocan as a fractional ownership of the land ONLY
This significantly reduces risk but split ownership can lead to mortgage , boundary, access and or other potential issues.
Upon final completion and ONLY when surveys and building inspections have taken place and accepted by TAPU then PARCELISATION takes place which finally produces individual Kocans. This document is KING and shows each individual plot boundaries and lists the building details.
This is the document that has absolute title under TRNC law ONLY.
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- Kibkommer
- Posts: 1658
- Joined: Tue 03 Apr 2012 7:49 pm
Re: Site Division Title
Works for houses/villas but not apartments IMHO