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Registration Of A Lease In Cyprus

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Information on registering a Cyprus property lease

Skarinou Village                                 Photo © CyprusExpat.co.uk

Any agreement for the lease of immovable property for a period greater than 15 years may be registered with the Department of Lands & Surveys. The registration of such lease agreement entitles the lessee to transfer mortgage, pass on to his/her heirs or sell by public auction such leasehold.

For as long as a leasehold exists, the lessee holds the right of possession and enjoyment of the property whereas the lessor holds only the naked ownership of the property. The absolute ownership of the property of the lessor is resumed upon expiration or cancellation of the lease. The freehold and leasehold interests subsist independently the one from the other and are interrelated only to the extent specified in the lease agreement.

The registration of a lease agreement with the Department must comply with the following conditions and requirements:

The period of time remaining up to the expiration of the lease and taking into account any periods of prolongation or renewal, to which the lessee may be entitled, must not be less than 15 years (Some Turkish Cypriot properties are exempt from this requirement).

The lease agreement must be a valid one under Contract Law.

The agreement must contain an express provision allowing its registration.

The property under lease must be registered (i.e. a title must exist) in the lessor's name (state land and some Turkish Cypriot property is exempt from this requirement).

Where the property under lease is held in undivided shares by two or more persons the lease agreement must be signed by all such persons.

The date of entry into effect and expiration of the ease must be expressly specified in the lease agreement.

The property under lease must be free from any encumbrance, whereas the owner must not be under any prohibition and where the property is charged by an encumbrance, the consent of the person in whose favour the encumbrance operates (and in the case of a mortgage the consent of all guarantors) is required.

Where the lease affects only part of the property and the agreement results in the parcelling of the property such parcelling must not contravene the provisions of the law.

The fees for registration and issue of the certificate of registration must be paid.

The application for the registration of the lease (Form N.304) must be filed with the Lands Office of the District where the leased properties are situated and be accompanied by:

Copy of the lease agreement duly stamped.

Certificate of registration of the property unless otherwise provided by the law.

Copy of the cadastral of the property showing the part of the property under lease, where the lease concerns portion of the property.

Any other document requested by the Director (e.g. permit of division of the land etc).

Such registration is made upon record of the lease agreement in the Register of Leases of the Department and is followed by the issue of the certificate of registration of the lease.

The time of completion of registration is estimated to 3-4 months and varies depending on the particularity of the case, the accumulated volume of work and the available personnel.

Source Department Of Land And Surveys

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