Reserve Rights on Property Transfer

Ιn the form of a right of usufruct or possession of a property, arises. Ιn this case, when a property is transferred from one person to another. The provider (the transferor) retains for himself (not transferring) the right to have the property or the right to property on it or another right.

The reservation is made by a written declaration. Βoth of the transferor and the person accepting the transfer, in the Transfer Form itself (N.270). Registration of task takes place at the same time as registration of the transferred property.

In the case of a reservation right,the provider has a share in the property, the application is not accepted. The co-owner / s of the remaining shares is required to grant the same righτ. (Οn the special form N.251A). However, when the transferred property is held distributed during the transfer by the provider of its share, the co-owner’s consent is required for the part to be exercised.

​Transfer of Immovable Property

The Immovable Property (Transfer and Mortgage) Law 9/65

Transfer of immovable property means the passing of the title of immovable property from one person to another. So, in order of this act , that actually could happen, it needs the completion of Form N.270 which is the Declaration of Transfer of Immovable Property. The certificate of registration, or title deed of the immovable property which is to be transferred, must be attached thereto. Where the transfer of the property takes place at a Lands Office.