When making a big investment in property and especially when investing in overseas property you should seek the best legal advice from solicitors and lawyers; and North Cyprus is no exception to this fact, hence the need to search for the best lawyers in North Cyprus who would look after your interests as a buyer.
The North Cyprus property situation has become difficult due to the reason of division of North Cyprus and South Cyprus resulting in different title deeds; but this should not be a barrier for you to invest, if the decision is taken carefully and with full legal advice from well qualified North Cyprus lawyers and solicitors.
When buying land or property in North Cyprus, it is obligatory for the buyer to have the involvement of a lawyer or solicitor. But the seller is exempt from such a requirement. But you as an investor should have an English speaking lawyer present; who may guide you through the fine details of the property buying procedure in North Cyprus.
There is no difference between lawyers and barristers as it is in the UK. All are referred to as lawyers in North Cyprus. Finding a North Cyprus solicitor is not difficult as they tend to have their office close to the Law Courts. The only good way to scout for a North Cyprus lawyer is to spend a day visiting the offices of several of them.
A common tradition of North Cyprus lawyers is that they will request that the buyer grants them a Power of Attorney which enables them to act on the buyer’s behalf and in their absencia. This is normal practice and the buyer should not be alarmed by this. However, as Power of Attorney is a serious thing, every necessary precaution should be taken while granting it.
The solicitor will examine and translate the Title Deeds of the property to be purchased and should be able to explain the precise legal status of the deeds or “Kocan”. The lawyers might have their own independent opinion on the likely resolution of the Cyprus problem or the outcome of the title deeds once this problem is solved finally.
Many North Cyprus lawyers work for estate agents and construction companies. You as a customer might even be offered a reduced fee for their services. But before you choose any one of them, make sure that your interests as a buyer are secured and not that of the construction company.
The North Cyprus solicitor as per regulation of buying a property or land will make an application to the Council of Ministers of North Cyprus on your behalf. This grants you permission to own property in North Cyprus. You should be aware at the moment granting of this permission can take several years; but new regulations are coming into place regarding this, and soon it is expected that it may take less than few months. It is quite usual for a buyer to pay the purchase funds in full and move into the property, even though the approval remains outstanding.
Costs tend to be around £1,000, and rising. Savings can be made if you use a lawyer who has already performed a search on the Title Deeds of the land for of a previous buyer. Some North Cyprus lawyers are familiar with the standard contracts of specific Property Developers and will offer a deep discount on the usual price.