WHAT DIFFERENCE DOES IT MAKE THAT YOU ARE OFFERING TO HELP? THE LAND REGISTRY IS A GOVERNMENT OFFICE, NOTHING CHANGES, THE BACKLOG WILL GET WORSE NOT BETTER?
The system has been completely changed, before if you applied and did not supply the complete information required, the application would be dismissed, sometimes years later and have to be reapplied for with the missing information. The new system allows the application to be processed on the documentation supplied. Any missing information will be noted on the title deeds and will be available for any interested party to read, making buying a property much clearer. This also allows rectification at a later date with a penalty payable.
I HAVE BEEN TOLD THE FEES BEING CHARGED STILL DO NOT TAKE INTO CONSIDERATION THE IMMOVABLE PROPERTY TAX OR LACK OF BUILDING PERMITS, PLANNING PERMISSION OR SPECIFIC PERFORMANCE, SO WHY SHOULD I USE ANY PROPOSED SERVICE?
It is true that there may be additional expenses outside of the legal fees being charged, but these are taxes, such as immovable property tax, payable on receipt of the deeds however they are issued. The legal fees do include architect or specialist advice required in cases where there are no planning, building or contracts lodged, court appearances if the developer will not sign the title over and any other problem encountered in obtaining the title deeds.
WILL I STILL BE LIABLE FOR THE DEVELOPERS MORTGAGE ONCE I HAVE THE TITLE DEEDS?
No, once the deeds are in your name, they are removed from the developers portfolio and therefore are not classed as assets/liabilities on the developers account. This means , in case of insolvency, the liquidator will not be able to come after you for payment as your property ( or loan on your property) is no longer registered in the developers name.
CAN I APPLY FOR TITLE DEEDS MYSELF?
Yes, you can obtain the forms directly from the Land Registry and undertake to process yourself. The complication arises if there are any inconsistencies in the build or registration. You will then have to employ the services of architects/surveyors/translators and maybe even solicitors to remedy the problem. If you are living in Cyprus and have the time and resources then you will be able to handle the whole process yourself, but you will have to employ help if you are In the UK or other countries.
WHAT DOES YOUR COMPANY GET OUT OF THIS?
We are a property resolution and communications company, we are not a property agent, or a reseller of any kind. We have been approached a number of times due to our experience in communications to provide services to various groups. We have researched our Partner's and we have seen the change in legislation brought about by the European Parliament. We have also had contact with numerous owners as part of our due diligence and are confident we represent a good opportunity for property owners and our Partner's, who are a legal firm in Cyprus with award winning credentials and substantial experience. In addition we are confident their fees are very reasonable and their integrity second to none.
We manage the initial communication and support the ongoing process between our Partners and you, their potential clients, although you would have direct contact with your legal council at all times. We are confident this represents a sound legal move and very necessary in the current climate.
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