Aristo Developers says 1,000 title deeds are ready
Aristo Developers announce that more than 1,000 property owners were informed in August that their title deeds were ready.
The company said that these title deeds, relating to properties worth a total EUR 250 mln, are free from any encumbrances and are available for immediate transfer. Thus, even if these properties had paid their mortgages or loan in full, and had been blocked at the Land Registry as being linked to other Aristo projects, they are no longer ‘trapped’ and the owners are free.
Following the recent incentives announced by the government of zero or reduced transfer fees, Aristo Developers has called on its customers to take advantage of this opportunity and proceed to obtain their title deeds without further delay.
The company added that “no problems or inconsistencies are observed in the projects in relation to their planning licences and therefore the rate of issuing separate title deeds from the Cyprus Lands Authority is very high, perhaps the highest recorded in the Paphos District where Aristo Developers mainly operates.”
The company said it has also been working systematically and consistently to ensure that, when further title deeds are issued for its developments, these will be relieved from any encumbrances allowing for hassle-free transfers to beneficiaries.