Buying Property With Title Deeds
Purchasers buying a property built some years ago or a one unit and not part of a complex, can acquire their Title Deed immediately. The procedure is exactly the same as in the U.K. It is wise to appoint a local Lawyer. The Lawyer must then make a search and if the results are satisfactory, contracts can be exchanged immediately. The Vendor then provides the Title Deed without delay. Purchasers can feel safe as long as their lawyer acts as follows: A search is made to confirm that the land on which the project has been built is registered on the vendor’s name and to make sure that is clear of any encumbrances. That the Contract of Sale is stamped by the Tax Office and lodged with the Land Registry for Specific Performance purposes, (Law cap 232 as amended by the laws 50/70, 96/72 and 51(1)/95). That the title deed is transferred on their names.