Property Ownership: A Full Guide to Title Deeds

1. CLEAN FREEHOLD TITLE: BRITISH OR OTHER FOREIGN OWNERSHIP PRE-1974, WITH TITLE DEED (KOCAN), CLEARLY STATING THAT THIS IS THE CASE.
Internationally recognised deeds. Permission to buy is still necessary

2. CLEAN FREEHOLD TITLE – TURKISH CYPRIOT OWNED PRE-1974.
These deeds are 100% safe but before the property can be registered in your name, an application must be made to the Council of Ministers for approval. The procedure to obtain approval will take some time.

3. TRNC – KESIN TASARRUF – ABSOLUTE POSSESSION DOCUMENT – TITLE DEED
This is property or land that was in Greek Cypriot ownership pre-1974. When the Turkish Cypriot refugees came to the safety of the north after July 1974, they left all their possessions behind in the south. Accordingly, the Government then assessed on a points basis, the value of the refugee’s forsaken assets in the south. With these points, the Turkish Cypriot refugee could take a relinquished Greek Cypriot house or land in compensation for his lost properties in the south to the TRNC Government, who would then hold them pending a negotiated settlement between the North and South Governments. The refugee would then be issued with a Title Deed for his newly recompensed property. Until he received this Title, he would not be in a position to sell. Our feeling is that as the island is heading, albeit slowly, for some sort of solution, whether it will be a negotiated settlement or annexation to the Mother land, then the TRNC title deed properties can be considered safe to purchase.

4. LAND OR PROPERTY - GREEK CYPRIOT PRE 1974 - NO TITLE DEEDS - NOT YET ISSUED.
Some people offer for sale, for relatively nominal sums, these properties without deeds. They are sold for "air money" or "goodwill" usually, these need the purchase of additional points before the Title Deeds will be issued. It is our opinion that agreements should not be entered into for property that does not have a Title Deed issued by the relevant authority.

5. CONTRACTUAL OR "CASES PENDING" LAND OR PROPERTY.
When one looks back to pre 1974, there were over two thousand British in the Girne area, and property was experiencing something of a boom. In the period up to the Peace operation in July 1974, there were several hundred Title Deed applications pending and subsequently not processed, owing to the lethargy of the Greek Cypriot administration, and the political instability. Following the formation of a Turkish Cypriot Government, a statement was issued that all foreign land and property ownership, once registered, would be respected. This has been done; the first cases have been to court, and as long as the owner can substantiate his original payment for the property, then deeds are issued. There are some seven or eight hundred cases to be heard, so unavoidably, the process will take some time.

6. THERE IS ALSO THE METHOD OF LEASING LAND OR PROPERTY FROM THE GOVERNMENT.
These are usually derelict houses, which the Government will lease out for periods of up to 49 years to foreigners who renovate the property at their own expense, and who pay a nominal ground rent for the lease period. An excellent example of the manner in which this scheme has been operated can be seen in Karaman (Karmi) Village, which is a credit to the Minister of Tourism and his staff. It should be noted that a lease holder must retain the property for 5 years before they will be given permission to sell. This policy is showing encouraging results, as many visitors from overseas are returning to North Cyprus to investigate the possibilities of starting new businesses here. At the present time, the majority of these people are from the British Isles, and many have commenced trading in such businesses as water sports, restaurants, holiday home management, shops, estate agents, construction companies, irrigation equipment suppliers etc.