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Property questions

Postby MattB » Fri Oct 19, 2018 3:15 pm

Couple of questions, hopefully someone will know the answer to:-
1. I own an apartment in Cyprus, which is in my name on the title deeds. I'm now married. Does anyone where I go to add my wife to the deeds, and any idea of how much it costs?

2. Does leasehold exist here for apartments? I can't see anything on the deeds. Obviously I'm worried there might not be much left on the lease should I wish to sell in the future. Or is it not something to worry about in Cyprus, and you can buy/sell an apartment like you would a villa?

Thanks,
Matt
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Re: Property questions

Postby Get Real! » Fri Oct 19, 2018 6:24 pm

What you’re looking for is called “The Department of Lands and Surveys”
http://portal.dls.moi.gov.cy/en-us/page ... fault.aspx

The online transfer fees calculator seems only in Greek…
http://portal.dls.moi.gov.cy/el-gr/Page ... rFees.aspx

But you’re better off just going there to ask…
http://portal.dls.moi.gov.cy/en-us/offi ... fault.aspx

NB: If asking a local for directions tell them you’re looking for the “Hti - ma - do - lo - yion” (one word and emphasis on the red "LO")
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Re: Property questions

Postby B25 » Fri Oct 19, 2018 6:36 pm

MattB wrote:Couple of questions, hopefully someone will know the answer to:-
1. I own an apartment in Cyprus, which is in my name on the title deeds. I'm now married. Does anyone where I go to add my wife to the deeds, and any idea of how much it costs?

2. Does leasehold exist here for apartments? I can't see anything on the deeds. Obviously I'm worried there might not be much left on the lease should I wish to sell in the future. Or is it not something to worry about in Cyprus, and you can buy/sell an apartment like you would a villa?

Thanks,
Matt


To answer your questions:

1. You can add your wife easily to it by 'Gifting her half'. The procedure is easy but not usually something you do yourself as you need to fill in a number of tax forms and land registry forms. You can always use either a lawyer (expensive for this) or one of those agents that operate outside the Land Registry offices to do the forms. They may charge you a couple of hundred euros as there is some running around to do. Cost at the land registry are minimal, there are no transfer fees, but a charge of 1:10000 of the 1.1.2013 value detailed on the title deed.

So if you apartment was worth say 80,000 euros on the 1.1.2013 then the fees would be just 8 euros.

2. If you have a title deed there is no leasehold, in other words it does not expire nor does it derate over time, so no worries.

If you wife is no EU, then she will need the council of ministers permission to have the title transferred to her, otherwise it is straight forward.

Hope that helps.

Depending upon where you are located I may be able to recommend someone to do this for you.
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Re: Property questions

Postby Maximus » Fri Oct 19, 2018 6:41 pm

1, don't do it.

2. yes, if you own it, you can sell it like any other property.
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Re: Property questions

Postby MattB » Sat Oct 20, 2018 7:42 am

Excellent. Thanks for the info guys.

Maximus: why do you say don't do it?

B25: We live near Kouklia (rent the apartment), so Paphos would be better. Also she is EU, and will be next year. I won't be (British), so do you think this maybe a problem with this? Ie sort it out before Brexit
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Re: Property questions

Postby B25 » Sat Oct 20, 2018 8:36 am

MattB wrote:Excellent. Thanks for the info guys.

Maximus: why do you say don't do it?

B25: We live near Kouklia (rent the apartment), so Paphos would be better. Also she is EU, and will be next year. I won't be (British), so do you think this maybe a problem with this? Ie sort it out before Brexit


Don't worry about Brexit it won't have any affect on this. Paphos too far sorry. But procedure is easy to get done.
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Re: Property questions

Postby Maximus » Sat Oct 20, 2018 12:45 pm

MattB wrote:Excellent. Thanks for the info guys.

Maximus: why do you say don't do it?

B25: We live near Kouklia (rent the apartment), so Paphos would be better. Also she is EU, and will be next year. I won't be (British), so do you think this maybe a problem with this? Ie sort it out before Brexit


Because its an asset you purchased before you married your wife.

I say don't do it so you can protect your assets in the case your marriage does not work.

Everything you do together, post marriage is a different story, but dont transfer half of what you accumulated before marrying her in to her name......

{This is just my general advice without knowing more about you and your situation and cirumstance}
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