What are the different types of property titles in Cyprus?
Property titles in Cyprus can be broadly classified into three main categories: freehold, leasehold, and long-term leasehold. Each type of property title confers different rights and obligations on the property owner and may be subject to various restrictions or limitations. Freehold title is the most common type of property ownership in Cyprus and grants the owner full and unrestricted rights to the property, including the right to use, sell, or lease the property for an indefinite period. Leasehold title, on the other hand, grants the owner the right to use the property for a specified period, usually long-term, subject to the terms and conditions of the lease agreement. Leasehold properties are typically found in developments or complexes with shared amenities or common areas, such as condominiums or gated communities. Long-term leasehold title is similar to leasehold title but involves a lease agreement with a longer duration, typically 99 years or more. Long-term leasehold properties are often found in tourist resorts or government-owned land and may be subject to specific regulations or restrictions on use and development. It's essential for property buyers to understand the different types of property titles in Cyprus and their implications before purchasing a property to ensure that their rights and interests are protected and to avoid any potential issues or disputes down the line.