KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CYPRIOT LAW –
A. GENERAL –
1. Introduction –
Cyprus is a common law jurisdiction, and its legal system is based on the UK one. It is a clear and robust system which leaves no uncertainty as to the ownership status of real estate in Cyprus. The Land Registry Office in Cyprus (with district offices in each of the major towns of the island) records and maintains up to date records of ownership and interests over land. In parallel, Cyprus’ immovable property law, the cornerstone of real property ownership and transactions related to land, regulates the transfer of title, tenure, registration, disposition, and valuation of immovable properties in Cyprus and the creation of securities, charges, and interests over the same.
2. Land Registry Department –
The Land Registry Department was established in 1858 based on the model. It is said to be one of the most dependable and trustworthy worldwide. All rights, interests, and easements (for example mortgages, long leases, rights of way) associated with immovable property, cartography, registration, and of course transfer of title to immovable property, are monitored and registered by the Land Registry Department.
Please see full Chapter below for more information.