Author: Mr. Charalambos Papasavvas
Advocate – Legal Consultant
Managing Partner of PAPASAVVAS & LISKAVIDOU LLC
Founder of RELOTECH EXPERTS
Founder of NEOCOURSES INNOVATION CENTER
Conveyancing is an essential legal process in property transactions, involving the transfer of ownership from one party to another. In Cyprus, property transactions are governed by The Immovable Property (Tenure, Registration & Valuation) Law, Cap. 224, as amended. Adhering to this legal framework is crucial to ensure the validity and enforceability of ownership transfers. Whether you are purchasing or selling a property, Papasavvas & Liskavidou provides expert guidance through the conveyancing process, safeguarding your rights and interests at
every step. Our experienced property lawyers offer professional advice and assistance on a wide array of legal matters.
Property Title Search
A vital initial step in conveyancing is conducting a title search to uncover any potential legal issues that may affect the property transaction. This process ensures the buyer receives a clear and marketable title, confirming their rightful ownership and the ability to transfer or sell
the property in the future.
A property title search involves a detailed examination of public records, including land registry documents and property deeds, to verify ownership history and identify encumbrances or liens. This investigation may include checking for mortgages, easements, or legal rights granted to third parties. Additionally, a physical inspection may be conducted to verify boundaries, access points, and other property features.
Our skilled property lawyers perform comprehensive title searches, leveraging their expertise to detect any issues that might affect the sale. Should any problems arise, such as outstanding debts or liens, we provide practical solutions, including negotiating with the seller to resolve them. By ensuring a thorough title search, Papasavvas & Liskavidou helps facilitate a smooth transaction and guarantees that you secure a clear and marketable title.
Drafting and Reviewing Contracts
Preparing and reviewing contracts is a critical element of the conveyancing process in Cyprus. The contract, a legally binding document between the buyer and seller, outlines the terms and conditions of the sale. It is imperative that the contract accurately reflects the
intentions of both parties, complies with legal standards, and includes provisions to safeguard their interests.
Our property lawyers specialize in drafting and reviewing contracts to ensure they are legally sound and tailored to your requirements. We collaborate with you to understand your objectives, identify potential risks or liabilities, and negotiate any necessary amendments.
During this process, we ensure that essential details, such as the property description, purchase price, payment terms, and conditions or contingencies, are clearly outlined. We also verify that warranties or representations made by the seller are accurate and comprehensive. Should any disputes arise during negotiations, our lawyers provide expert guidance to resolve them efficiently, ensuring the transaction proceeds smoothly. Working with Papasavvas & Liskavidou ensures your interests are protected and the contract meets your needs.
Property Valuation
Obtaining an accurate valuation is a crucial step before purchasing a property to ensure you are paying a fair price. Property valuation determines the market value of the property, reflecting its current worth under prevailing market conditions. This assessment is essential
for securing financing, setting a fair price, and calculating property taxes.
Our property lawyers connect clients with licensed appraisers who consider factors such as location, size, age, condition, and recent renovations when determining a property’s value. Market trends, including comparable property sales, are also analyzed to establish an
accurate valuation.
An accurate valuation benefits both buyers and sellers. Sellers can set a competitive listing price, while buyers can confirm the asking price is reasonable and ensure value for money. Additionally, lenders often require accurate valuations to determine loan amounts and
interest rates.
Our team also advises on factors that might affect a property’s value, such as zoning regulations or legal disputes. By guiding you through the valuation process, Papasavvas & Liskavidou ensures your transaction is backed by a reliable and fair property assessment.
Application for Permits
Depending on the type of property and the buyer’s citizenship, permits or approvals from relevant authorities may be required. Our property lawyers assist clients in navigating the permit application process, ensuring all necessary approvals are obtained promptly.
Transfer of Ownership
The final stage of the conveyancing process is the transfer of ownership, where legal title is officially transferred from the seller to the buyer. This step involves preparing and signing transfer documents, settling outstanding fees and taxes, and registering the transfer with the
Land Registry.
Our property lawyers handle all aspects of ownership transfer, from ensuring accurate documentation to liaising with the Land Registry for proper registration. We guide you through the terms of the transfer documents and address any concerns before signing.
Payment of fees and taxes is a key component of this process, including stamp duty, transfer fees, and any unpaid property taxes or utility bills. Our team advises on these costs and ensures they are settled before the transfer is completed. We also assist with final property
inspections to confirm that the property’s condition matches the agreement and that any necessary repairs have been made.
Comprehensive Legal Support
In addition to these services, Papasavvas & Liskavidou offers expertise in related matters such as stamp duty, title deeds, property taxes, property inspections, and financing. With our professional guidance, you can navigate your property transaction with confidence
and achieve a seamless and secure outcome
