North Cyprus Title Deeds
Title Deeds in North Cyprus
There are a number of things you need to think about before purchasing property in North Cyprus, two of the important ones are; what type of land are you buying? And how reliable is builder that is building or has built your property? The following explains the situation with regard to title deeds:-
North Cyprus Property Title Deeds:
The Turkish word for title deed is Kocan and is usually a single A4 sheet of paper containing a lot of useful information and of course all in Turkish. The North Cyprus Property you buy will normally have one of the following titles.
FOREIGN TITLE DEED:
This is land or a house that was owned by a foreigner (non Cypriot) prior to the division of the island in 1974. This type of deed was not affected by the division and the ownership of this type of property is not disputed. There is very little of this property and it is unlikely that this is the type of North Cyprus property you will be buying.
TURKISH TITLE DEED PROPERTY:
This is property that has always been Turkish and of course still is. It belonged to Turkish Cypriots before the division in 1974. As an example, the vast majority of the old walled part of Famagusta was and still is Turkish. Kyrenia (known by the Turkish Cypriots as Girne) was mainly Greek before the division in 1974.
It is important to realise that there is property on the Greek side that was Turkish and that the Turkish Cypriot owners no longer have use of this property (the same applies to the Greek Cypriots who owned property on what is now the Turkish side of the division). North Cyprus property on original Turkish land is becoming scarce.
TRNC TITLE DEED PROPERTY:
After the division in 1974 the Turkish Cypriots were isolated and not recognised internationally. This has meant a lack of development on the North side of the island and that is why it is so un spoilt (it really is a wonderful place to live or have a holiday).
So the TRNC government started an administrative process and issued TRNC title deeds on Greek property on the Turkish side of the division. The process is to this day not recognised by the Greek Cypriots. However, there now seems to be a growing opinion even among some of the Greek Cypriots that this administrative process in one way or another will be taken into account when a settlement is one day reached. The TRNC issued a number of different types of deeds but the two most important types are Esdegar (equivalent or exchange property) and tahsis (property that has been assigned).
North Cyprus Property - Esdegar Property
This is Greek Cypriot property that was allocated to Turkish Cypriot people who lost property on the Greek side. This was done by a points system and is known simply as exchange property. The estate agents that the North Cyprus Property Consultant has spoken to in North Cyprus are of the opinion that Esdegar land, or a house built on Esdegar land is financially safe. Most English people have bought property built on this type of land.
TAHSIS TITLE DEED PROPERTY (TMD TITLE PROPERTY):
Also known as TMD property. This is Greek Cypriot property that was given (and we mean given) to Turkish settlers, or given as a reward for military service. Among the estate agents opinion is mixed as to how this type of property will be dealt with after a settlement. The consensus of opinion in North Cyprus is that once a property has been built on TMD land then it is as safe as a property built on Esdegar land (exchange land)
North Cyprus Property - Leasehold Title
It is possible to lease property from the TRNC government. Usually these are old houses which are in need of renovation and are leased for 49 years at a nominal ground rent. You have to apply directly, or using a solicitor, to the Ministry of Tourism.