Results of Title Deed Poll

poll-109Looking at the overall pattern it seems that for every 100 people who have bought property here:

39 – have title deeds
30 – have been waiting 0-3 years for their deeds
31 – have been waiting 4 or more years

Another way of looking at this is that around 61% of people have fully paid for a property which they do not yet legally own. This is a Cypriot problem (both north and south) and shows a worrying trend of the legal profession allowing homebuyers they are supposed to be working for to enter into financially dangerous purchases. Simply put, if the buyer does not own the property then the seller still does and the longer they remain as the legal owners the more likely they are to either die or be affected by the economic problems which are currently affecting the world. Either of these situations could result in the title of the property being passed to someone other than the buyer, either to beneficieries of a will or to pay the vendor’s debts. There seems have not been a precedent yet set which prevents this happening as Cypriot law supports the title deed owner and not an intended owner.

poll-numbers

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