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Cyprus Property - Encumbrances

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Information on Cyprus property encumbrances

Cyprus Real Estate                        Photo ©

The general term "encumbrances" means all impediments which render impossible the transfer or the mortgage of property. Every encumbrance constituting a direct claim, or liability attached to an immovable property under the provisions of any law in force for the time being is called "encumbrance", while any forbidding, prevention or interdiction of any natural or legal person from transferring or mortgaging all or any of his immovable property under the provisions of any law in force for the time being is called "prohibition".

"Encumbrances" and "Prohibitions" are referred to in Parts I and II of the First Schedule to the Immovable Property (Transfer and Mortgage) Law 9/65.

The most common Encumbrances are the following:

A mortgage.

A registration of a judgment made under the Civil Procedure Law (known as "memorandum" or memo).

A writ of sale of immovable property.

A deposit of a contract of sale of immovable property.

A conditional attachment of property made by the Registrar of Co-operative Societies.

A judgment or order of any Court directing the alteration or cancellation of a registration of immovable property.

A publication of the apportionment of the cost of the construction of a street.

A charge on immovable property in respect of a registration of immovable property fee.

A judgment or order directing the sale of immovable property.

Prohibitions under the provisions of the above Law are:

An interim order of any Court restraining a defendant from alienating or charging his immovable property.

An order of any Court appointing a guardian of a prodigal.

Adjudication of any natural person as "mentally disabled patient"

An interim receiving order.

A receiving order or an order for the winding up of a company.

No encumbrance or prohibition is constituted unless:

It is first deposited at the Lands Office of the District where the property is situated.

The formalities prescribed by any law or regulation are followed.

The acceptance and registration fees are paid at the Department of Lands & Surveys.

More details on the procedure and formalities to be followed by all persons in whose favour the following encumbrances are constituted are given in:

Registration of memorandum (Court judgment).

Application made for registration of immovable property in a debtor's name.

Deposit of a contract of sale.

For more information with respect to prohibitions, please refer to the section relating to an interim order restraining a defendant from transferring or charging any of his immovable property.

Source Department Of Land And Surveys

Last Updated 28 October 2016




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