TO DO LIST BEFORE PURCHASING PROPERTY

We at Erginel Law, have prepared for you the list of things you must do in advance, before purchasing a property in Northern Cyprus:

To do list for purchasing property in Northern Cyprus

  1. Make your own physical inspection of the property
  2. Check the location, access, infrastructure and so on.
  3. Do not be afraid to ask the vendor about any issues.
  4. Ask for a copy of the title deed and make sure that the property is registered on the title deed.
  5. Ask for a search issued by the District Lands Office, which will show the details of the property and if there are any impediments on it.
  6. If you are buying apiece of property in communal site, please check the maintenance fee you are obliged to pay annually.
  7. Refuse to pay any deposit until you have spoken to a lawyer.
  8. Find an independent and qualified lawyer who can help you with any potential issues

Under the Article 8 and 9 of the Law on Acquisition of immovable property and long-term lease (Aliens Law) 52/2008, non-citizens of TRNC and the foreign legal entities are entitled to purchase immovable property under the following conditions and subject to obtaining purchase permit from the Council of Ministers:
– If a foreigner intends to buy land, the area should not exceed one donum (14,400 sq feet);
– Should a foreign person buy a house or an apartment, the land shall not exceed five donums. However, it is not allowed to build any other dwelling on the land initially purchased as a house or apartment and Building Permission will not be granted to build further dwellings after permission to purchase has been granted.

In addition, you need to meet the requirements to obtain a Permission to Purchase from the Council of Minister, in order to be able to have the Title Deed in your name.

Read also

Many people who have acquired, or who intend to acquire, an immovable property in the…

In order to apply for the Permission to Purchase (PTP) the following documents shall be…

PURCHASING AN IMMOVABLE PROPERTY IN THE TRNC  On the way of getting your dream home,…