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Cyprus Property - Registration Of A Memorandum

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Information on registering a memorandum on a Cyprus property

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Civil Procedure Law, Cap.6, Sections 53-62

Where a Court has issued a judgment in favour of a creditor ordering the other party to the proceedings (judgment debtor) to pay a specified amount of money to the judgment creditor, the creditor may register a charge with the Department of Lands & Surveys against any immovable property registered in the name of the debtor as security for the recovery of the judgment debt.

The encumbrance created upon registration of a judgment is called "memo" (from the Latin term "memorandum").

A memorandum is registered upon deposit of a certified copy of the Court's judgment with the Lands Office of the District where the debtor's properties are situated. The procedure of acceptance of a memo does not take more than 15-30 minutes. Lands Offices do not accept memos sent by post.

Form N.56 is to be completed and signed by the creditor, his agent or attorney and deposited with the above judgment. Form N.57 (certificate of registration of "memo) is to be completed and signed by the Lands Officer in charge and returned to the creditor.

The fees for the registration and issue of the certificate of registration of the memo are payable upon deposit of the memo. Such fees are paid on the same day.

A memo remains in force for six years from the date the judgment was first registered with the Department and its duration may be prolonged by an order of Court for a further period not exceeding two years each time.

Applications requesting for a prolongation of the period of duration of any memo must be filed before the Court at least one month before the memo's expiry. The Court's order for prolongation of the period of registration of the memo must be deposited with the Department within 14 days from the date when the memo would have expired. The memo shall be cancelled wholly or partly, upon filing with the Department of Lands and Surveys of a Special form N.58 signed by the creditor, his agent or his attorney.

All memos shall be recorded in a special book kept at each District Lands Office. The public is allowed access to the records of memos kept with the Department in the presence of the Land Officer in charge.

Source Department Of Land And Surveys

Last Updated 29 October 2016

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