Share on LinkedInShare on LinkedIn

ARTICLE · 19 JANUARY 2023

Real Estate Transactions - Basic Principles To Safeguard A Buyer And The Process Until Possession

Buying a property in the Republic of Cyprus is a quite straightforward procedure. Evident of this fact is that a contract for the purchase and sale of land does not need to be in a written form to be valid.

CyprusReal Estate and Construction
  1. Buying a property in the Republic of Cyprus is a quite straightforward procedure. Evident of this fact is that a contract for the purchase and sale of land does not need to be in a written form to be valid. Relevant is Section 77 of the Law on Contracts (Cap. 149).
  1. In most cases, however, it is easily understood that a verbal agreement for sale of land is practically impossible. Buyers in such a case are required to have the necessary funds saved and must show an unnecessary high level of trust to the seller. Furthermore, any contract for the sale of a building or land which is not in writing can't be enforced.
  1. Therefore, modern economic order requires the conclusion of written contracts that define in detail the rights and obligations of both parties involved and thoroughly regulate the time schedules for delivery of possession of land and the transfer of ownership.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

See more popular content from