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Useful Cyprus Information Cyprus Government Websites Currency Converter Cyprus Property News Limassol Marina CyprusNewsReport.comCyprus Government Property Planning Amnesty Bill - Part 4
Information for Cyprus Expats on the new Cyprus Government Property Planning Amnesty Bill
IN THE final article in our series of articles about the Cyprus Interior Ministry’s bulletin outlining the key features of the recently approved planning amnesty bills, we look at the provisions of the Immovable Property (Tenure, Registration and Valuation) (Amended) Law 2011.
The immovable property (tenure, registration & valuation) law
An application for an updated title deed is submitted by the registered owner of the property, even if a planning permit or a building permit has expired. Documents submitted with the application are listed in the relevant application form.
If the registered owner of the property neglects to apply for the issue of an updated title, the Director of the Department of Lands and Surveys may decide, depending on the time that has elapsed since the diversification of the ownership, the extent or the scope of the diversification and the number of the persons affected, to issue the title or titles, either following an application by a person with a vested interest with respect to the property, or without any application. In such cases, the Director may impose an administrative fine on the owner who fails to act on his own initiative.
If the Building Authority issues a certificate of approval with notes or a certificate of unauthorised works, the updated title may be issued with notes recording the irregularities or prohibiting the transfer of the property to another person. Inevitably, such notes will affect the value of the property.
A note or a prohibition may be cancelled at a later stage, provided that the irregularities in the building are legalised or removed.
Important note
The contents of this Bulletin do not in any way replace texts of the Town and Country (Amended) Law 2011, the Streets and Buildings Regulation (Amended) Law 2011 and the Immovable Property (Tenure, Registration and Valuation) (Amended) Law 2011. In case of contradiction between the contents of the Bulletin and these Laws, legislation takes precedence over this text.
© Cyprus Property News
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