What are the benefits of having an Individual Title Deed

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

Moderators: Soner, Dragon, PoshinDevon

Post Reply
dekski1
Kibkommer
Kibkommer
Posts: 127
Joined: Sat 07 Apr 2012 3:17 pm

What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 1 of 8 in Discussion

Post by dekski1 »

All 8 house owners on our site have share deeds. Two house owners on our site want to know why they should now go for the Individual Deeds. How can I convince them? They are London Cypriot and do not live on site. The site is parcelised and has final approval.

sammydavis
Kibkommer
Kibkommer
Posts: 678
Joined: Wed 26 Jun 2013 4:14 pm

Re: What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 2 of 8 in Discussion

Post by sammydavis »

Not sure what you mean by 'go for individual Deeds'??? We (8 houses) are final approved etc, have completed all the necessary payments etc for parcelisation and are now awaiting confirmation of this and then our individual Deeds automatically follow parcelisation. This means the house and its land are registered on the Deeds separately for each house/owner. Am I missing something?

Art
Kibkommer
Kibkommer
Posts: 855
Joined: Thu 24 May 2012 1:05 pm

Re: What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 3 of 8 in Discussion

Post by Art »

Correct and it gives the legal owners the right to do what they like with their property- within reason of course.

dekski1
Kibkommer
Kibkommer
Posts: 127
Joined: Sat 07 Apr 2012 3:17 pm

Re: What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 4 of 8 in Discussion

Post by dekski1 »

In our case as I understand it. One person only has to apply for Individual Deeds. All the house owners have to approve. We have been parcelised for years. The builder will not do it, not interested in us now. We will 'employ' a fixer to apply for the deeds when we manage to give him power of attorney to act for all of us.

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

Re: What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 5 of 8 in Discussion

Post by Deniz1 »

Its easier to sell iof you want to as a bank will not give a mortgage on a shared deed.

crofter
Kibkommer
Kibkommer
Posts: 379
Joined: Wed 03 Oct 2012 5:00 pm

Re: What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 6 of 8 in Discussion

Post by crofter »

If anyone wanted to sell their property, with a FULL Kocan in place the value of the property would increase considerably.

Alisun
Kibkommer
Kibkommer
Posts: 37
Joined: Wed 09 Jan 2013 8:12 pm

Re: What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 7 of 8 in Discussion

Post by Alisun »

Crofter - we thought that but we're in fact told by estate agents the only difference it makes is that without individual title deed you restrict your market potential as locals would be unable to raise a mortgage - so if you use the house as a holiday home and have no intention of selling then there would appear to be no benefit?

ttoli
Kibkommer
Kibkommer
Posts: 721
Joined: Sat 20 Oct 2012 3:31 pm

Re: What are the benefits of having an Individual Title Deed

  • Quote
  •   Message 8 of 8 in Discussion

Post by ttoli »

Alisun , and therein lays the rub , do you want to restrict your buyers to those that want Holiday Homes or the greater market ? , Full Kocans helped sell my last two properties , without, they can pick and choose, drive the price down and , with the glut of unsold properties here ,you are at their mercy , Full Kocan the only way to go
(Advertising Restricted)

Post Reply

Return to “LAW - Kibkom North Cyprus Forum”