Once the contract of sale is signed and stamped, Cybarco, or your lawyer, files within two (2) months a certified copy of the contract at the Land Registry Department to ensure the transfer of the acquired property into your name.
Specific Performance Law safeguards a purchaser of immovable property from a transaction between a seller and a purchaser, especially when the purchaser is not allowed to immediately transfer the acquired property into his/her name even though payment of the consideration has been made. Depositing a copy of the contract to the Land Registry gives the purchaser, according to the above law, the right to seek “specific performance” of the terms and conditions of the contract and thus to register the property into the purchaser’s name. The contract of sale deposited with the Land Registry can be withdrawn only with your consent.
The Cyprus Department of Land and Surveys is the oldest governmental department of the public sector, established in 1858. Through the years it has been updated, making it one of the most sophisticated land registry systems in the world. Therefore, purchasing a property in Cyprus, is a very straightforward procedure.
Part of the prestigious Lanitis Group, Cybarco has more than 70 years of expertise and is responsible for the development of large and high quality projects both in Cyprus and abroad.
Cybarco is the leading luxury property developer in Cyprus with offices in Cyprus, Moscow and St. Petersburg. The company is responsible for bringing many of the island’s landmark projects to fruition...
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