Conveyancing

Conveyancing is the legal process of transferring property ownership from one person to another. It involves various steps such as property searches, contract reviews, and settlement. 

In your property purchases from the TRNC, if you wish, we engage in your conveyancing processes, simplifying the procedure for you while safeguarding your rights wherever necessary and possible. 

What are the steps?

• Instruction to Conveyancer:

  • The process begins when the buyer and seller each instruct a conveyancer or solicitor to handle the transaction on their behalf.

• Drafting Contract of Sale:

  • The seller's conveyancer drafts the contract of sale, which includes details about the property, the sale price, and any other relevant terms and conditions.

• Title Investigation:

  • The buyer's conveyancer conducts a title search to verify the seller's ownership of the property and to check for any legal encumbrances, such as liens or restrictions.

• Pre-Contract Enquiries:

  • The buyer's conveyancer submits a list of questions (pre-contract enquiries) to the seller's conveyancer to clarify any issues or seek additional information about the property.

• Exchange of Contracts:

  • Once all the necessary checks and searches are complete, and both parties are satisfied, contracts are exchanged. At this point, the transaction becomes legally binding, and a deposit is usually paid by the buyer.

• Registration of Contract 

  • After the contracts have been signed and the initial payment has been made, the sales agreement is registered with the land registry

• Completion:

  • On the agreed-upon completion date, the balance of the purchase price is paid, and buyer’s conveyancer applies for permission for foreigner to be able to purchase immovable property in TRNC

• Post-Completion Matters:

  • The buyer's conveyancer registers the change of ownership with the relevant land registry. They also settle any outstanding payments, such as Stamp Duty Land Tax.