Most of us do not deal with real estate acquisitions on a daily basis, especially when it comes to real estate transactions abroad. It is only one of the many reasons why it is highly recommended not to conduct real estate transactions in Cyprus without the assistance of a personal lawyer (emphasis should be made on the word "personal", and not a lawyer provided by the seller, the agent or the real estate developer).

However, the most important argument in favor of considering the legal support for real estate transactions is that the record-keeping system of such transactions in Cyprus is based on English law, which is completely different from the procedure we are accustomed to. In particular, a certificate of title is not issued at the time of deal-making. Besides that, there are many pitfalls that someone can learn and avoid only if based here, on the island.

Therefore, if you do not reside permanently in Cyprus, but would like to acquire some property here, before purchasing, we strongly recommend you to consult a lawyer representing your interests in Cyprus, in order to:

· check the Title deed availability (whether it is present or absent), as well as consult if there are any restrictions (for example, easements, etc.) related to the ownership of the particular property,

· check the financial situation of the seller, as well as the presence / absence of encumbrances or memos related to this property,

· check for the required building licenses,

· draw up the purchase and sale agreement,

· consign the agreement to the Land Committee (which is a prerequisite),

· obtain permission from the bank or from the Council of Ministers (if necessary).

The team of my law office in Limassol has got considerable experience in legal support of real estate transactions in Cyprus.

The priority rule for us is a professional approach to resolving any legal issues, taking into account the individual circumstances of every client.

www.russianlawyer-cyprus.com

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+357 9666-4774 (Viber, WhatsApp, Telegram)