Paphos People

I have been given conflicting advice as to the amount with regards to Land Registry Fees and would be grateful if someone could point me in the right direction. I have been told that I will have to pay a percentage (5%?) of the amount I paid for the property, which is what I was expecting, but I have also been told that the Land Registry Office have a sliding scale depending on where your property is in the Paphos area! Help please as I am about to pay the Land Registry Fees this week.

Many thanks
Janis

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Fy dyfodol

From my understanding of how it works, it's 5% on the first CYP50K, then goes up in bands. If you convert what you paid into euros, using 1.70861 as the official figure, you can go onto this website

http://www.moi.gov.cy/moi/dls/dls.nsf/d ... calculator

and calculate your costs. I have never heard of it being dependant on where your property is! Do be aware though, that if the land registry feel that the price you paid is grossly undervalued, they can increase the fees to what they think is a valid price for the property when you bought. (Apparently there was a lot of "under the counter" money transfers at one time, reducing the official property price - - what? in Cyprus? )

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Jean

Retirement - harder work than working - But much more fun

Hi Jean

You are a star!!!! Thank you so much for your much appreciated information. My solicitors, whom we have used since we bought our home in 1999, have done nothing but give me a hard time with regards to Probate since my husband died, which is still ongoing, and we purchased a one bedroom apartment for the use of our two sons who work in the oil industry, for them to use on their R&R, on the same complex and had the Contract of Sale in Nov 07. My husband died in February 08. Only now is the apartment going through Land Registry in my name only. The figure I worked out from your information is the same as that given by my solicitors, but I have been told to give my solicitors an additional Euros.3,000.00 in cash "just in case". Our purchase was legitimate with no "under the counter" deal whatsoever, so I am wondering why my solicitors need the additional Euros.3,000.00 "just in case"?

Thank you once again for at least giving me peace of mind over the actual amount that should be paid.

With best regards

Janalld

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Fy dyfodol

As I understand it as Jean said it can go up if Land Reg decide it was sold lower than the actual value.
However it can also go down if they consider you paid too much for the property.
Our solicitor has asked for the calculated value and said he will bill us if there is any discrepancy. This is not unusual.
There have been incidences where people have had refunds.
I would guess that the Areas idea comes from the fact that location can have an effect on property prices.

Brian

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Experience is what you get when you don't get what you want....

I have heard (via another forum) of someone whose solicitor also requested a "just in case" payment, which was not required, and they are still fighting for refund of it. As far as I am aware, (but I could be wrong) you have to be present with your solicitor to get your title deeds (or you certainly should be), and the money has to be paid in cash, so yes, have some extra with you, but keep it with YOU, not your solicitor, then if it's not required, you can put it straight back into the bank.

I am still waiting for notification of my title deeds, but can't see it being this year, as my developer is still not talking to me

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Jean

Retirement - harder work than working - But much more fun

Guys

Thank you all for your advice, which has all been taken on board. I will let you know how I get on - and will keep my additional Euros.3,000.00 with me and attend with my solicitors.

Many thanks
Janalld

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Fy dyfodol

Sounds like your solicitor is giving you a hard time. Have you thought of changing or asking for other professional advice..

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Straight talking, no Gimmicks.

Live your dreams.

Hi Tanny

If I could afford to change solicitors I would, but as they have been dealing with the Purchase of the apartment since October 2007, and Probate since February 2008, I am afraid that I shall have hefty bills from them regardless, and then still have to start again with a new solicitor. I have received professional advice from another solicitor, who has confirmed that both cases are too far along to be worth my while changing solicitors, so I am stuck with the ones I have.

Many thanks for your advice though, which is very much appreciated.

Janalld

We picked up our deeds last week The land registry tried to increase our value but our lawyer stood her ground and we paid original value 1980 and not what they thought.We was bang on with our figure and what lawyer said.

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

Hi all, I'm new to the site but think it's great!
Wonder if anyone can offer advice on our situation please? We bought our house in Tala from an English guy over 2 years ago and he told us the title deeds were "due any day". Fast forward to now and they are ready. We had a quote from our solicitor a couple of months ago and now they have sent the bill, which includes a suprise extra Euro 2,500 which apparently is because we have a mortgage!!! I have emailed the bank as apparently some of the charge relates to their "costs and stamps" whilst the remainder is 1% of the purchase price and goes to the land registry dept.
At no stage has this ever been mentioned and has come as a bolt out of the blue. We are coming to Cyprus in a couple of weeks so we really want to get this sorted. I don't think any of our neighbours have mortgages so can't really ask them.
Any advice gratefully received!

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Pat

Remember everyone that you should all have a valid Will whilst you have property and assets here in Cyprus and preferably a Cypriot Will.
Do not forget that there is no such concept - unlike in the UK - of joint ownership of assets and even if you have two names on a contract for the purchase of property and one of those people dies, the contract and property WILL NOT pass to the other person named. The rules in Cyprus as to Inheritance and the passing of assets IS NOT the same as in UK.
Further, if you have received your title deeds and two of you purchased the property, you will have 2 sets of title deeds which shows that you each own a half share in the property. That half share WILL NOT pass to the other person without a Will having been made saying so.
THIS IS VERY VERY IMPORTANT and cannot be overstressed. If anyone wants further information about this or making a Will in general please do not hesitate to call me on 96549826 or read my monthly articles in Grapevine.
Mark Tilden Solicitor (rtd); F. Inst. P.

Thanks Mark11

Fortunately we did conform to the Cyprus rules. However in Cyprus they take advantage even when you follow the rules as everything still has to go to Probate despite the fact that our Wills left everything to each other. The solictors here are on to a real winnner as the minimum cost for dealing with Probate (which should not be if everything is left to the other in our Cyprus Wills) is Euros.8,500.00 and that is before they add and add and add whatever they like!

I must have the worst solicitors in Cyprus - in fact I know I do as the mother of the mother, father, and 2 daughters partnership has been struck off as she was not a qualified solicitor but had practiced for years before being struck off and was the only one of the partnership that knew what she was doing! Do not get me started on this as I have a file full of e-mailed correspondence showing the incompetance of the 2 daughters.......................

We had dealt with the mother of the partnership for years - she dealt with the purchase of our home, the apartment we bought for our boys to utilize and my parents apartment - and she was brilliant and a lovely person too. In fact the best "solicitor" we had ever dealt with anywhere.

When Allan died I was left with the two daughters. If you saw the correspondence that I have received from them - had this been the UK you like me would have taken them to the Law Society. However - Cyprus does not have a Law Society - and to take a solicitor to court here - well - check on line!

Guys - my advice to you is to ensure that you find a descent solicitor - not easy here in Cyprus. Despite the fact that Cyprus is in the EU you still have to line the pockets of the Cypriot solicitors and take their abusive correspondence too and if you have assets in Cyprus you have to have a Cypriot Will - and go to Probate! They will drag it on and on as they tell you what documents they need and then thy tell you that they need this and then they tell you that they need that and so it goes on and the longer they can drag it out the bigger the bill.
Janis

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Fy dyfodol

Forgot to mention that my vulture solcitors know that Allan and I were working in the ME so they think that I have megga £££££££££££££££££££££££££££££££££££ Will they be in for a shock when I show them the letter from the bank which shows that despite the fact that he was dealing with our Pension Pot Fund to which I was not privy to know about - he left me £3.20, and I have the letter from the bank to prove it!

How am I going to pay the Cypriot Solicitors Probate Bill when it finally arrives???????????? I have no idea as I have just enough left to cover necessary bills for the next 9 months.

My advise is - if you have any assets here in Cyprus - ie property etc - get your solicitor to transfer it into your beneficiaries names and put your bank accounts into your and their names too. A good solicitor will ensure that under these terms, your beneficiaries can not touch the property or the bank account/s until you die, but then - when you finally do die - they will not have to deal with Probate bills etc. Get them to do the same with the next generation. This is the only way you will beat the Cyprus rules. Wish I had know about this sooner.................

Luv & hugs
Janis

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Fy dyfodol

Dear Janis

I am sorry to read what has happened to you and I can assure you that NO WAY am I defending the cypriot lawyers here; by and large they are a disgrace.

However, it is very important to ensure that when you make a Cypriot Will that you DO NOT name the Cypriot Lawyers as Executors. In the Wills I have made for many clients here the vast majority have named their husband / wife / partner as executor and thereafter children.

Although cypriot lawyers are supposed to all charge a minumum fee (which is again wrong) for their work, when lay people (ie non lawyers) have been appointed as executors and they are looking for someone to do the work, they can call law firm number one and ask for a quote; call law firm number 2 and ask for a quote and so on (and of course get it in writing and make sure that it covers all costs (VAT and any Court fees (normally called Disbursements).

The problems normally only arise when lawyers are directly appointed as executors in the Will.

Again, I am not defending the lawyers here, but when I have taken cases through the courts here to get Probate, what happens in either one case or in one week will not be the same for another - what paperwork is filed in case A will not be the same in case B. It seems to vary with who is on duty that day at the Court !
As I have said and will keep saying, Cyprus is not England with sunshine and the rules here are not the same or as straightforward as they are in the UK. All I can say is that if you did not have a Will, then the procedure, the time spent, the costs and of course how the estate is divided will be a worse for all.

Hi Mark11

Now you tell me!!!! If only there was a book of "Do's & Don't" for people who decide to retire to Cyprus!!!!!!!

My solicitors are so incompetent and so awful - in the way they speak to me and in their e-mail correspondence and the lack of information and the way they are dealing with Probate.

When Allan died, because it was a sudden death, the police were called and they took his passport. My solicitors kept insisting that they HAD to have his original passport before they could deal with Probate. I contacted 3 other solicitors all of whom said that as long as my solicitors had a copy, which they could verify was a true copy, then they did not need the original to deal with Probate. My solicitors have had copies of our passports since 1999 and have always been give copies of any renewed ones etc. However, despite my trying to retrieve Allan's passport and being led in circles by all the authorities, my solicitors refused to assist in tracing it as they said that they were acting for the Estate and the late Mr Davies and not me, despite the fact that our Wills left everything to each other.

There is so much more but I would make everyone's hair curl if I continued!!!!!!

L & H
Janis

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Fy dyfodol

We have 2 sets of title deeds also wills and our lawyer is not executor

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts