Current Situation Re Pre-74 Property / Permission to Purchase in TRNC
Even though current TRNC legislation does not prohibit foreign individuals from owning pre-74 Turkish Title Deed properties, you may have learned via media sources recently that some individuals have been denied permission on pre-74 properties throughout the TRNC for no obvious reason.
Despite direct reassurances from the TRNC Interior Minister to Evergreen officials that there is no blanket policy to deny permission to purchase there does seem to be at least a temporary delay which some media sources connect to the ongoing political situation and peace negotiations.
Current and potential owners of pre-74 properties who may be concerned about this should be aware –
- firstly that even in the absence of transfer of title from the developer, once your contract of sale is registered with the land registry and the full payment made, you can enjoy full and exclusive use of your property including the ability to rent and resell.
- secondly, please be aware that if you wish to expedite receipt of title during the delay period, Evergreen as the developer can refer you to the best available legal advisors who can arrange alternative straightforward and recognised legal avenues for taking immediate transfer of title.
For further information please email info@evergreendevelopments.com
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