Land Department of Cyprus (The Department of Lands and Surveys) deals with all issues related to real estate on the island. These include registration of sales transactions, mortgages and regulation of commercial long-term land leases. We will tell you about the features and functionality of this institution.
Land Department of Cyprus: history and features of work
The Department is one of the oldest government institutions in Cyprus. It was founded in the 18th century – in 1858. A small island with a large share of agricultural production needed proper management of land and real estate. These tasks were entrusted to employees of the Land Department.
The main functions of the department were the registration of property rights to housing and the solution of problems with community land plots and the objects that are being built on them.
Over the years, the functions of the institution have expanded. Today, the Land Department of Cyprus includes 11 divisions. The main office is located in Nicosia. There are also departments that deal with geodesy, cartography, as well as the Center for Land Information. In all regions of the country there are district offices where residents can apply.
The Land Department in Cyprus registers real estate in the Registry, Cadastral Plan, Tax Registry and issues certificates of ownership. The authority of the director of the department includes a wide range of responsibilities. In particular, he sometimes resolves disputes between homeowners and credit institutions.
There was a case when, during the years of the crisis, the head fought with banks for the removal of encumbrances from the real estate of residents.It was not possible to achieve the desired, but the actions of the director made it clear that he was worried about the owners and wanted to help them get out of difficult situations. But in general, the task of the department is to ensure that such a thing does not come, and the real estate market is legal, safe and transparent.
Functionality of the Department of Cyprus:
- controls compliance with all rules of the procedure for registration of ownership;
- registers contracts for the sale of immovable objects;
- registers and issues titles;
- controls the term of lease of commercial land issued to tenants for 15 years or more;
- draws up, registers and transfers mortgage loans;
- sets the parameters of buildings and green areas;
- assesses real estate;
- develops and implements the National Land Information System of Cyprus.
Property registration in Cyprus and data collection
The Department accumulates a lot of data related to immovable objects. There are both old manuscripts, which are more than a century old, and modern electronic documents. The information received by the department is processed using classical methods and the latest technologies (images of land plots from satellites, etc.).
The statistics of the Land Department allows you to find out how many real estate transactions were in each region and city. And also compare the cost of objects in different time periods. Thanks to the regular publication of the property price index, you can follow the dynamics of the Cyprus market.
Real estate appraisal in Cyprus
In 2018, a comprehensive property valuation was introduced in Cyprus. Until that moment, there were “pitfalls” in the registration procedure: many of the objects were not taken into account, the treasury was deprived of money due to non-payment of taxes. Comprehensive assessment solved these problems. According to the Land Department, by mid-2022, the institution will complete the assessment of 2 million objects.
In addition, the department is engaged in the revaluation of real estate at the request of the owner. This is required in the case when the results of the examination of the value did not suit the owner of the object.
Title deeds for real estate in Cyprus
A title is a document that confirms the right to own real estate. It is issued after checking the object by the state commission and registration. When real estate is sold, the document is reissued to the new owner.
To obtain a Title in Cyprus, the actual layout of the property must be in accordance with the project. As for the land plot, for the construction of a house, according to the Title, it must be classified as land for housing construction. If, according to the documents, this is an agricultural land object, then it will be possible to build only on its tenth part.
