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Cyprus Eastern Forum Index » Ask Nigel A Question » Another Title Deeds Question
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Another Title Deeds Question 
Post: #1   PostPosted: Fri Nov 09, 2018 12:23 pm Reply with quote
Bobbeer
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Today I was told that Title Deeds are now free!!!

I said I have not heard of this, any truth in it?

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Re: Another Title Deeds Question 
Post: #2   PostPosted: Fri Nov 09, 2018 2:02 pm Reply with quote
FSB Properties
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Bobbeer wrote:
Today I was told that Title Deeds are now free!!!

I said I have not heard of this, any truth in it?


If you paid VAT when you bought your property, then there are no transfer fees to pay.

You will pay 10 euros for a copy of the deed! Smile

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Post: #3   PostPosted: Fri Nov 09, 2018 2:06 pm Reply with quote
SensibleBob
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yesterday we were told a charge of 50% would be made. When ,and for what exactly ,no idea but understand they will accept a payment towards problems in respect of any "notes" on our property which there indeed are.
The issue for example on the Green area means we would pay a proportion relative to the total properties on the site to get a note free title. Depends how much they calculate this to be before parting with anything.
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Post: #4   PostPosted: Fri Nov 09, 2018 3:27 pm Reply with quote
Steve - SJD
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SensibleBob wrote:
yesterday we were told a charge of 50%


I take it you didn't pay VAT when purchasing?

Cheers

Steve
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Post: #5   PostPosted: Fri Nov 09, 2018 3:52 pm Reply with quote
SensibleBob
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what if VAT reclaimed is it stillfree
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Post: #6   PostPosted: Fri Nov 09, 2018 3:59 pm Reply with quote
Santorini Paul 1
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We got our deeds for the 10 euro registration fee as we had paid VAT. Our builder told us that we could reclaim the VAT if we become residents and that was regardless how we got our deeds.
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Post: #7   PostPosted: Fri Nov 09, 2018 4:12 pm Reply with quote
Steve - SJD
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SensibleBob wrote:
what if VAT reclaimed is it stillfree


Just quoting Nigel here:

"Those who paid VAT on the purchase price of their property are exempt from paying Property Transfer Fees.

Those who did not pay VAT are entitled to a reduction of 50% on the transfer fees"

As far as I can recall at the time Nigel mentioned that the law only stated
that those who had paid VAT would pay zero property transfer fees. It
made no mention of what happened if someone had claimed the VAT
back. On that basis then one can only assume that despite the VAT
reclaim you still would be eligible for zero fees.

Cheers

Steve
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Post: #8   PostPosted: Fri Nov 09, 2018 4:36 pm Reply with quote
FSB Properties
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Steve - SJD wrote:
SensibleBob wrote:
what if VAT reclaimed is it stillfree


Just quoting Nigel here:

"Those who paid VAT on the purchase price of their property are exempt from paying Property Transfer Fees.

Those who did not pay VAT are entitled to a reduction of 50% on the transfer fees"

As far as I can recall at the time Nigel mentioned that the law only stated
that those who had paid VAT would pay zero property transfer fees. It
made no mention of what happened if someone had claimed the VAT
back. On that basis then one can only assume that despite the VAT
reclaim you still would be eligible for zero fees.

Cheers

Steve


Claimed or not there are no transfer fees to pay. The law does not specify the vat rate (since you can pay 5% or 19% as the case may be) and so if you paid vat, you get them free. Smile

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Post: #9   PostPosted: Sat Nov 10, 2018 11:37 am Reply with quote
nhowarth
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Santorini Paul 1 wrote:
Our builder told us that we could reclaim the VAT if we become residents and that was regardless how we got our deeds.


Please read my article
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Register for Free or Login to the forum.

.

Regards,

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Post: #10   PostPosted: Sat Nov 10, 2018 1:22 pm Reply with quote
Marc C
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SensibleBob wrote:
yesterday we were told a charge of 50% would be made.....

Who told you - was it the Land Registry, the developer or......? The reason I ask is that our owners are in the same boat as you and Nigel has said elsewhere that it is important to have a "note free" Title Deed because, if there are any notes on it, then the property cannot be transferred to any other person - ie, you can't sell it or even give it away.
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Post: #11   PostPosted: Sat Nov 10, 2018 2:12 pm Reply with quote
SensibleBob
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As told by neighbour who visited Paralimni. If they pay their share pro ratA their plot can be sold note free but LR said 50per cent fee.
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Post: #12   PostPosted: Sat Nov 10, 2018 6:59 pm Reply with quote
Marc C
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Thanks SensibeBob - it will be good to know what the LR has in mind.....
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Another Title Deeds Question 
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