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Cyprus Eastern Forum Index » Ask Nigel A Question » Do I Actually Own My House?
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Do I Actually Own My House? 
Post: #1   PostPosted: Mon Oct 23, 2017 11:38 am Reply with quote
Wing Commander
Joined: 06 Aug 2011
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Location: Milton Keynes

 
Hello Nigel, I am in the process of buying a house in the UK . I have been told that if I own a property anywhere else in the world I will be liable for an enhanced rate of Stamp Duty. My question to you is, As I do not currently have my Title Deeds do I own the house or not as this determines the amount of Duty Payable?
Regards Trev
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Post: #2   PostPosted: Mon Oct 23, 2017 2:02 pm Reply with quote
nhowarth
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Hello Trev

You do not own a property in Cyprus until you have paid the Property Transfer Fees (where applicable) at which time its Title Deed is registered in your name.

Whether this means you do not have to pay a higher rate of SDLT in the UK when you buy a property, i don't know. But there is some guidance at
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Update 26 October.

Also note in the section headed 'Trusts' "You’ll be treated as owning a property if you receive all the income from it and the proceeds from its sale even if you’re not the legal owner."

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Do I Actually Own My House? 
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