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25th February 2024
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HomeTitle DeedsHeld hostage by struggle to get title deeds

Held hostage by struggle to get title deeds

As the issue of title deeds for trapped buyers drags on, one British expat living in Xylofagou is desperately trying to be issued his almost a decade since applying for it.

Briton Kenneth Beck, 75, is now looking to sell his flat and move back to England to be with his family but in keeping with many more the lack of a title deed is preventing him from leaving.

He first bought the flat in 2007 with the intention to retire. After seeing developer advertising, he made the choice to come to Cyprus, buying a flat at complex with a pool near the sea.

However, he did not imagine the complexity of owning a property in Cyprus, and shortly after he bought the flat, the developers went into voluntary liquidation, meaning anyone who had bought a flat was stuck without title deeds. For Beck this means he is now facing problems as it is only now he wants to sell and is having difficulty selling the property for it real value.

Beck was not alone in seeing his investment sink into a black hole; many buyers were left high and dry as companies collapsed with buyers unable to get their title deeds. This led to the government of Cyprus in 2015 passing the trapped buyers law to help those who for various reasons were unable to get title deeds for their properties. The government was faced with thousands of such cases.

Its solution with the law was to have the buyers fill out applications to the land registry department, which would begin investigating the cases and proceed with issuing the title deeds if their property matched what was written on plans.

The land registry told the Sunday Mail that in the case of Beck and the other residents of this apartment complex in Xylofagou the deeds were issued in 2019 to the developer even though it no longer existed as a company, following an application filed in 2015.

But the residents have yet to receive them. As the developer no longer exists as a legal entity they are now waiting for the land registry to issue them.