Many people have contacted my about applying for the deeds under the new 'trapped buyers'/'hidden mortgage law' following messages posted in another forum and Facebook which say that Title Deeds are only be offered to cash buyers (which is a load of rubbish.)
To set the record straight, if a purchaser wishes to apply for the Title Deeds to the property they purchased, the only requirements are that:
(1) their contract of sale has been deposited at the Land Registry and
(2) they agree to deposit any outstanding financial obligations to the vendor is a into a special account set up by the Land Registry. (e.g. In their contract, some people were able to hold back a few thousand Euros until the Title Deed was available for transfer - they have to agree to deposit this money with the Land Registry.)
You do not need to contact the developer - if the Land Registry needs any information from the developer, they will contact him.
(Someone involved in the other forum contacted me at the end of October to say that my readers may be interested in a campaign. You can read the correspondence by clicking here.
You may also be interested to know that a member of the Cyprus Living Forum by the name of 'Dexter' appears to be involved in this campaign, which is spreading fear, uncertainty and doubt amongst those who have yet to obtain their Deeds. And I expect that many people have been dissuaded from applying for their Title Deeds because of the mis-information being published by 'Dexter' and others.)
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