Does anybody know anything about the new laws effecting property ownership and can comment on the notes below


'The new Estate Agency Law which has been passed to monitor and keep under strict regulations all those who are involved in the selling and marketing of properties. is aimed at safeguarding and securing your interests in the property which you have purchased until the time that you are able to register the title deeds of the property into your name.'

'It will further ensure that no bank charges, or mortgages can be placed on the land without your written consent as the purchaser'.



'The process requires that all Sales Agreements are deposited to the Land Registry Office within 21 days of signing by the Estate Agent or developer. However all Sales Agreements signed before the passing of this new law have 3 months from the date the Law was passed (until 1st March 2008)in which to complete the necessary procedure and deposit the Sales Agreement to the Land Registry Office. All purchasers are legally required to fulfil this obligation, and currently The Land Registry Office has advised that the legal representative of such purchaser may complete this procedure on their behalf together with a specific Power of Attorney. In the event that your Sales Agreement is not deposited to the Land Registry Office within the specified time period, it will cause you problems when you come to transferring the title deeds of the property into your name, as the Land Registry will not permit you to transfer the deeds into your name unless a new sales agreement is drawn up, signed and re-stamped and deposited. Thus incurring higher taxes'.


'In order for us to carry out this procedure on your behalf it is necessary for us to obtain a new Power of Attorney stating the specific law to which the power of attorney applies to, allowing us to submit your Sales Agreement to the Land Registry Office. The Power of Attorney must be written in Turkish and must be signed at the Turkish Republic of Northern Cyprus Consulate in London, and the original posted to our office in the TRNC. We will not be able to complete this procedure unless the POA is witnessed in this way and until the original POA is received by our office. When sending you the POA we will also send a translation in English so to enable you to understand the content of it.'

A fee of £250.00 (Two Hundred and Fifty Great British Pounds) is currently payable for the depositing of each Sales Agreement inclusive of the relevant taxes and duties payable to the Land Registry Office at the time of depositing each Sales Agreement.


The contact details of the TRNC Consulate are as follows:


29, Bedford Square

London WCIB 3EG



Tel: 0207 631 1920

Fax: 0207 631 1948



Opening times: 10.00am until 13.30pm Monday to Friday

Hi all,

Just spoke to lovely lady in the trnc legals dept at the london office abd she confirmed that you have to register it in NC!

You need to contact your solicitor in NC to do this for you as she said it has to be registered in the kyrenia court etc!

If your solicitor already has power of attourney then they can do this on your behalf!

If not then you need to give your solicitor power of attourney or travel to NC in person!

Hope this helps

Take care-D

hi can someone help I purchased a property in 2006 paid solictor 1,000 pounds this included the contract with the developer and was told that the property willbe registered with the land registery ,do I still have to pay more money to the land registery not getting much information from the solicitor can someone advise me

Hi, if you look on Homebuyers Pressure Group or TRNC Government website they explain step by step. But yes, the £1000 you paid was the lawyers fee. At that time they would have told you that stamp duty would be payable at 0.5% but it might be relaxed so the risk then was pay it and lose if they relax or don't pay it and risk paying penalty rate of 1% if not paid within 21days of signing contract. This year the Government gave an amnesty to everyone to pay 0.5% by end of April or pay the penalty 1% thereafter. You should also register your contract with the Land Registry to protect you (YTL44). Your lawyer should have contacted you in these regards earlier this year so tell him to move his butt.
Good luck

thanks for that info still confused as what i should be doing so what you are saying the solicitor should of registered the property back then in 2006 i did get an email from them in march this year saying i had to pay another 600 to have the property registerd
when i emailed them back and questioned this saying why you have already been paid they havent given me a clear picture as to what is happening but i will be going out their in july hopefully every thing will be ok but still worried as it appears they dont have my interest only their own and looking at ways to make more money
keep in touch
Regards
Beverley