Depositing your Contract of Purchase at the Cyprus Land Registry Office
Important Notes
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Your property purchase contract must be deposited within 60 days at the Land Registry in the district where the property is located, placing a charge 'specific performance' with the stamp duty paid on the property and protecting you legally. Failure to do so may lead to the property being sold to a third party or the original owner taking out a mortgage/loan on the property.
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Deposit of the contract is not a legal requirement but it protects you and your property until you receive the title deed.
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You must declare any mortgage on the property purchase in case you default on payment so the lender can then claim the property.
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Both the original and copy purchase contract must be stamped at the Land Regisrty office.
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Stamp duty must be paid having signed the contract at the local Internal Revenue Department.
See Also: Cyprus Property Lawyer | Cyprus Estate Agents | Cyprus Transfer Fees | Cyprus Property VAT | Cyprus Stamp Duty | Council of Ministers Cyprus | Cyprus Property Tax | Capital Gains Tax Cyprus | Bank of Cyprus | Mortgages in Cyprus | Purchase Contract | Cyprus Land Registry | Chartered Surveyors | Making a Will | Property Title Deeds | Final Approval
