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Cyprus Real Estate Agent Exam study materials
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Cyprus Real Estate Agent Exam practice questions

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Question 1Cyprus estate agency: registration, property records and the transaction

Which Cyprus statute is the principal law governing the registration and licensing of real estate agents?

  1. The Real Estate Agents Law of 2010 (Law 71(I)/2010) Correct answer.
  2. The Immovable Property (Tenure, Registration and Valuation) Law, Cap. 224
  3. The Sale of Immovable Property (Specific Performance) Law of 2011
  4. The Streets and Buildings Regulation Law, Cap. 96

Explanation

The Real Estate Agents Law of 2010 (Law 71(I)/2010, as amended, notably by 157(I)/2012) is the principal statute regulating the profession in Cyprus. It establishes the Real Estate Agents Registration Council and sets the framework for registration, licensing, conduct and discipline of agents.

Question 2Cyprus estate agency: registration, property records and the transaction

Which body is responsible for maintaining the register of real estate agents and overseeing the profession in Cyprus?

  1. The Cyprus Securities and Exchange Commission
  2. The Real Estate Agents Registration Council Correct answer.
  3. The Department of Lands and Surveys
  4. The Cyprus Bar Association

Explanation

The Real Estate Agents Registration Council (Symvoulio Ktimatomesiton) is the semi-governmental body, reporting to the Ministry of Interior, that keeps the register, issues licences, sets the qualifying examination and exercises disciplinary control over agents under Law 71(I)/2010.

Question 3Cyprus estate agency: registration, property records and the transaction

Under the Real Estate Agents Law, who may lawfully receive a commission for arranging the sale or letting of immovable property?

  1. Any person who introduces a buyer to a seller
  2. Only a registered and licensed real estate agent (or licensed company) Correct answer.
  3. Any holder of a Cyprus identity card over 18
  4. Only advocates and accountants

Explanation

The Law restricts the carrying on of estate agency work for reward to registered and licensed agents (and licensed real estate companies). Receiving a commission while unregistered constitutes illegal brokerage and is an offence under Law 71(I)/2010.

Question 4Cyprus estate agency: registration, property records and the transaction

A candidate wishes to sit the Council's qualifying examination to become a registered real estate agent. Which prior practical requirement must generally be satisfied?

  1. Five years of employment in a bank
  2. At least 12 months of training as a registered assistant real estate agent in Cyprus Correct answer.
  3. A master's degree in law
  4. Ownership of at least one property in Cyprus

Explanation

Among the qualifying conditions, a candidate must have completed at least 12 months of professional training as a registered assistant real estate agent in the Republic of Cyprus before being admitted to the qualifying examination and full registration.

Question 5Cyprus estate agency: registration, property records and the transaction

Which of the following is an eligibility condition for registration as a real estate agent in Cyprus relating to the applicant's character?

  1. The applicant must be a member of a political party
  2. The applicant must not have been convicted of an offence involving dishonesty or moral turpitude Correct answer.
  3. The applicant must hold a Cypriot passport only
  4. The applicant must be aged over 50

Explanation

The Law requires that the applicant be a fit and proper person: in particular they must not be an undischarged bankrupt or under legal incapacity, and must not have been convicted of an offence involving dishonesty or moral turpitude.

Question 6Cyprus estate agency: registration, property records and the transaction

What educational qualification is generally required to register as a real estate agent in Cyprus?

  1. A recognised post-secondary diploma of at least three years in a relevant field, or its equivalent Correct answer.
  2. Only a primary school leaving certificate
  3. A doctorate in surveying
  4. No educational qualification at all

Explanation

Applicants must hold a recognised diploma certifying successful completion of post-secondary education of at least three years (or its equivalent) in subjects relevant to the real estate profession, in addition to satisfying the practical training and examination requirements.

Question 7Cyprus estate agency: registration, property records and the transaction

After passing the examination and being entered on the register, what must a Cyprus real estate agent do each year to remain entitled to practise?

  1. Nothing; registration is permanent once granted
  2. Renew the annual licence and pay the prescribed fee Correct answer.
  3. Re-sit the qualifying examination annually
  4. Transfer ownership of a property to the Council

Explanation

Registration confers a number on the register, but the right to practise depends on holding a current annual licence. Agents must renew the licence and pay the prescribed annual fee; practising without a valid licence is unlawful.

Question 8Cyprus estate agency: registration, property records and the transaction

A registered agent places a newspaper advertisement offering a villa for sale. What information must the advertisement display under the Law?

  1. The agent's home address and personal mobile number
  2. The phrase 'registered and licensed real estate agent' together with the registration number and the annual licence number Correct answer.
  3. The agent's bank account details
  4. Only the property's price

Explanation

The Law requires registered and licensed agents to state the phrase 'registered and licensed real estate agent', followed by the registration number and the annual licence number, in every document or advertisement used in the course of the profession.

Question 9Cyprus estate agency: registration, property records and the transaction

Which financial protection must a Cyprus real estate agent hold as a condition of practising under Law 71(I)/2010?

  1. Life insurance for the agent personally
  2. Professional indemnity (liability) insurance Correct answer.
  3. A pension fund for staff
  4. Health insurance for clients

Explanation

Real estate agents are among the regulated professions in Cyprus required by law to maintain professional indemnity insurance, covering liability for errors and omissions arising from their professional activities. Proof of cover is a condition of licensing.

Question 10Cyprus estate agency: registration, property records and the transaction

Besides the Real Estate Agents Law, which subjects are tested in the Council's qualifying examination?

  1. Maritime law and aviation law
  2. Immovable property, transfer and mortgage, specific performance, town planning and street/building law Correct answer.
  3. Criminal procedure and tax fraud only
  4. European Union competition law only

Explanation

The examination covers the core property statutes: the Immovable Property (Tenure, Registration and Valuation) Law (Cap. 224), the Transfer and Mortgage Law, the Land and Surveys Department (Fees and Charges) Law, the Sale of Immovable Property (Specific Performance) Law, the Streets and Buildings Regulation Law and the Town and Country Planning Law, in addition to the Real Estate Agents Law.

Question 11Cyprus estate agency: registration, property records and the transaction

Which Cyprus statute governs the tenure, registration and valuation of immovable property and underpins the land registration system?

  1. The Streets and Buildings Regulation Law, Cap. 96
  2. The Immovable Property (Tenure, Registration and Valuation) Law, Cap. 224 Correct answer.
  3. The Companies Law, Cap. 113
  4. The Wills and Succession Law, Cap. 195

Explanation

Cap. 224, the Immovable Property (Tenure, Registration and Valuation) Law, deals with all matters relating to the tenure, registration, disposition and valuation of immovable property within the Cyprus land registration system. It is foundational to land law and is examined for agents.

Question 12Cyprus estate agency: registration, property records and the transaction

Under Cap. 224, can a person acquire title to a registered owner's land in Cyprus by adverse possession (squatting)?

  1. Yes, after 10 years of occupation
  2. No, since the 1946 enactment of Cap. 224 title cannot be acquired by adverse possession against the Government or a registered owner Correct answer.
  3. Yes, automatically after one year
  4. Yes, but only against the Government

Explanation

Since the enactment in 1946 of Cap. 224, no title to immovable property can be acquired by adverse possession against the Government or against a registered owner. This is a key protection for registered title in Cyprus.

Question 13Cyprus estate agency: registration, property records and the transaction

Where co-owned (undivided share) land in Cyprus is to be physically divided, what does Cap. 224 generally require of the co-owners?

  1. Only the largest shareholder needs to agree
  2. All co-owners must consent in writing to the division and the share each will receive Correct answer.
  3. Division is impossible under Cypriot law
  4. Only the Department of Lands and Surveys decides, ignoring the owners

Explanation

Under Cap. 224, where land is co-owned, all co-owners must consent in writing to the division and agree on the share each will receive. Where they cannot agree, the statutory dispute-resolution procedure for undivided co-ownership may be invoked.

Question 14Cyprus estate agency: registration, property records and the transaction

A client asks an agent about the document that proves registered ownership of a property at the Land Registry. What is this document commonly called in Cyprus?

  1. A tenancy agreement
  2. A title deed (certificate of registration) Correct answer.
  3. A planning permit
  4. A mortgage deed

Explanation

The title deed, the certificate of registration issued by the Department of Lands and Surveys, is the document that evidences registered ownership of immovable property in Cyprus. Agents should always check the title deed and search the register.

Question 15Cyprus estate agency: registration, property records and the transaction

Which government department maintains the land register and effects the transfer of immovable property in Cyprus?

  1. The Department of Lands and Surveys (DLS) Correct answer.
  2. The Central Bank of Cyprus
  3. The Ministry of Education
  4. The Cyprus Tourism Organisation

Explanation

The Department of Lands and Surveys (DLS), under the Ministry of Interior, maintains the land register, conducts surveys and valuations, registers mortgages and contracts, and carries out the legal transfer of immovable property in Cyprus.

Question 16Cyprus estate agency: registration, property records and the transaction

Which Cyprus law regulates mortgages of immovable property and requires them to be registered at the Department of Lands and Surveys?

  1. The Sale of Goods Law
  2. The Immovable Property (Transfer and Mortgage) Law, No. 9 of 1965 Correct answer.
  3. The Rent Control Law
  4. The Consumer Protection Law

Explanation

The Immovable Property (Transfer and Mortgage) Law, No. 9 of 1965, regulates the transfer and mortgaging of immovable property and the sale of mortgaged property. Mortgages must be registered at the DLS to be effective.

Question 17Cyprus estate agency: registration, property records and the transaction

An agent advises a buyer to verify whether a property is free from charges before purchase. Which check at the Land Registry would reveal an existing mortgage or memo?

  1. A search of the property's registration record (encumbrances search) Correct answer.
  2. A building energy performance certificate
  3. A tourism licence check
  4. A vehicle registration search

Explanation

A search of the property's registration record at the Department of Lands and Surveys reveals registered encumbrances, including mortgages, memos (court charges) and other burdens. This due-diligence step protects the buyer before any contract or deposit.

Question 18Cyprus estate agency: registration, property records and the transaction

Which statute primarily protects a buyer who has signed a contract of sale by allowing the contract to be deposited at the Land Registry?

  1. The Sale of Immovable Property (Specific Performance) Law of 2011 (Law 81(I)/2011) Correct answer.
  2. The Companies Law, Cap. 113
  3. The Income Tax Law
  4. The Streets and Buildings Regulation Law

Explanation

The Sale of Immovable Property (Specific Performance) Law of 2011 (Law 81(I)/2011) allows a purchaser to deposit the contract of sale at the Land Registry, which protects the buyer's right to compel transfer of the property and prevents the seller from re-selling or encumbering it to the buyer's prejudice.

Question 19Cyprus estate agency: registration, property records and the transaction

Within what period from signing must a contract of sale generally be deposited at the Land Registry under the Specific Performance Law of 2011 to secure full protection?

  1. Within 6 months of signing the contract Correct answer.
  2. Within 10 years of signing
  3. There is no time limit at all
  4. Within 7 days of signing

Explanation

The Sale of Immovable Property (Specific Performance) Law of 2011 extended the deposit period from the previous three months to six months from the date the contract is signed. Depositing within this period secures the purchaser's right to specific performance.

Question 20Cyprus estate agency: registration, property records and the transaction

What is the principal practical effect of depositing a contract of sale at the Land Registry under Law 81(I)/2011?

  1. It transfers full legal ownership immediately
  2. It prevents the seller from selling the property to someone else or otherwise prejudicing the buyer's right, and supports a claim for specific performance Correct answer.
  3. It cancels any existing mortgage on the property
  4. It exempts the buyer from all taxes

Explanation

Depositing the contract of sale effectively prevents the vendor from selling to another party or changing their mind, and underpins the buyer's right to seek a court order for specific performance compelling transfer of title once contractual obligations are met.

Question 21Cyprus estate agency: registration, property records and the transaction

If a court declines to order specific performance of a deposited contract of sale, what protection does Law 81(I)/2011 give the purchaser regarding sums paid?

  1. The purchaser loses all sums paid
  2. The law safeguards the amount paid by the purchaser, including where the court orders compensation instead of transfer Correct answer.
  3. The purchaser must pay an additional penalty to the seller
  4. The sums are donated to the Land Registry

Explanation

Where it is impossible to implement the contract, or where the court issues an order for compensation instead of specific performance, the Law safeguards the amount paid by the purchaser, providing a measure of financial protection.

Question 22Cyprus estate agency: registration, property records and the transaction

Which law principally governs the requirement to obtain a building permit before construction works in Cyprus?

  1. The Streets and Buildings Regulation Law, Cap. 96 Correct answer.
  2. The Real Estate Agents Law of 2010
  3. The Sale of Goods Law
  4. The Trademarks Law

Explanation

The Streets and Buildings Regulation Law (Cap. 96) and its regulations govern building permits. Obtaining a building permit prior to the commencement of construction works is generally required, subject to specific exemption decrees.

Question 23Cyprus estate agency: registration, property records and the transaction

Which permit defines what may be built on a plot, including use, density, height and coverage, before a building permit is sought?

  1. The town planning permit (planning permission) Correct answer.
  2. A driving permit
  3. A tax clearance certificate
  4. A health and safety certificate

Explanation

The town planning permit, granted by the planning authority under the Town and Country Planning Law, defines what may be built, the permitted use, access, density, height and coverage. The separate building permit, under Cap. 96, follows and addresses construction standards.

Question 24Cyprus estate agency: registration, property records and the transaction

For how long is a town planning permit in Cyprus generally valid from the date of its issue?

  1. Three years Correct answer.
  2. Three months
  3. Twenty-five years
  4. Indefinitely

Explanation

A town planning permit is generally valid for a period of three years from the date of issue, as specified by law. Development should commence within that period or the permit may lapse.

Question 25Cyprus estate agency: registration, property records and the transaction

How does the Town and Country Planning Law broadly define 'development'?

  1. Only the painting of a building's exterior
  2. The carrying out of building, engineering, mining or other operations, or the making of a material change in the use of land or buildings Correct answer.
  3. Only the sale of furniture
  4. Only the planting of trees

Explanation

The Law defines development broadly as the carrying out of building, engineering, mining or other operations in, on, over or under immovable property, or the making of any material change in the use of any building or other immovable property. Most such development requires planning permission.

Question 26Cyprus estate agency: registration, property records and the transaction

Zoning rules in a Local Plan typically control which of the following for a given parcel of land?

  1. The permitted use, building density, coverage ratio and height Correct answer.
  2. The colour of the owner's car
  3. The owner's choice of supermarket
  4. The interest rate on the owner's loan

Explanation

Zoning provisions in Local Plans and Policy Statements set the permitted land use and development parameters, including building density (plot ratio), coverage, number of floors and maximum height for each zone. Agents must understand these to advise on development potential.

Question 27Cyprus estate agency: registration, property records and the transaction

On a resale (secondary market) property where no VAT is charged, how are Land Registry transfer fees in Cyprus calculated on the property's market value?

  1. A flat 1% regardless of value
  2. On a sliding scale of 3% on the first 85,000 euros, 5% from 85,001 to 170,000 euros, and 8% above 170,000 euros Correct answer.
  3. A flat 20% of value
  4. There are no transfer fees in Cyprus

Explanation

Transfer fees are charged on a sliding scale on the property's market value at transfer: 3% on the first 85,000 euros, 5% on the portion from 85,001 to 170,000 euros, and 8% on any amount above 170,000 euros. A 50% reduction commonly applies where no VAT was paid on the purchase.

Question 28Cyprus estate agency: registration, property records and the transaction

A buyer purchases a resale property on which VAT was not paid. What relief commonly applies to the Land Registry transfer fees?

  1. Transfer fees are tripled
  2. A 50% reduction in the transfer fees commonly applies Correct answer.
  3. The buyer pays double transfer fees
  4. No transfer fees and no relief exist

Explanation

A 50% reduction on the standard transfer-fee scale commonly applies to resale properties on which VAT was not charged, making the effective rates 1.5%, 2.5% and 4% across the bands. This avoids double taxation alongside VAT.

Question 29Cyprus estate agency: registration, property records and the transaction

What is the standard rate of Capital Gains Tax on the gain from selling immovable property situated in Cyprus?

  1. 5%
  2. 20% Correct answer.
  3. 50%
  4. 0%

Explanation

Capital Gains Tax in Cyprus is charged at 20% on the taxable gain from the disposal of immovable property situated in Cyprus (and on shares in companies that own such property), subject to allowable deductions and exemptions.

Question 30Cyprus estate agency: registration, property records and the transaction

Which reduced VAT rate may apply to the purchase of a qualifying new primary residence in Cyprus, subject to value and area limits?

  1. 5% Correct answer.
  2. 19%
  3. 0%
  4. 25%

Explanation

A reduced VAT rate of 5% may apply to a qualifying primary residence, subject to the current value and area limits (for example, the reduced rate applying to the first 350,000 euros of value and the first 130 square metres, with overall caps). The standard rate is 19%.

Question 31Cyprus estate agency: registration, property records and the transaction

Are Cyprus real estate agents treated as 'obliged entities' for anti-money-laundering purposes when acting in property purchases and sales?

  1. No, agents are entirely exempt from AML rules
  2. Yes, agents are obliged entities and must apply customer due diligence and AML controls Correct answer.
  3. Only banks are obliged entities; agents never are
  4. Only lawyers are obliged entities; agents never are

Explanation

Under the Prevention and Suppression of Money Laundering and Terrorist Financing Law (Law 188(I)/2007, transposing the EU AML directives), real estate agents are obliged entities when acting in the purchase or sale of property (and for high-value lettings), and must apply customer due diligence and report suspicious activity.

Question 32Cyprus estate agency: registration, property records and the transaction

What is the first core AML obligation an agent must perform before facilitating a property transaction for a new client?

  1. Apply customer due diligence (identify and verify the client and beneficial owner) Correct answer.
  2. Pay the client's transfer fees
  3. Obtain a planning permit on the client's behalf
  4. Register the client as a real estate agent

Explanation

Customer due diligence (CDD) requires the agent to identify and verify the identity of the client and any beneficial owner, understand the nature of the transaction, and monitor it on an ongoing basis. CDD is the cornerstone of an obliged entity's AML programme.

Question 33Cyprus estate agency: registration, property records and the transaction

Which Cyprus authority serves as the national financial intelligence unit (FIU) that receives suspicious transaction reports?

  1. MOKAS (the Unit for Combating Money Laundering) Correct answer.
  2. The Department of Lands and Surveys
  3. The Real Estate Agents Registration Council
  4. The Cyprus Tourism Organisation

Explanation

MOKAS, the Unit for Combating Money Laundering, is Cyprus's financial intelligence unit. It collects, analyses and investigates suspicious transaction reports from obliged entities and refers cases to law enforcement.

Question 34Cyprus estate agency: registration, property records and the transaction

An agent suspects that funds in a property purchase derive from criminal activity. What is the agent's correct course of action?

  1. Ignore it because the agent is not a bank
  2. File a suspicious transaction report to MOKAS and avoid tipping off the client Correct answer.
  3. Warn the client immediately so they can withdraw the funds
  4. Complete the sale quickly and say nothing

Explanation

An obliged entity that knows or suspects money laundering must promptly file a suspicious transaction report (STR) to MOKAS and must not tip off the client. 'Tipping off' is itself an offence under the AML law.

Question 35Cyprus estate agency: registration, property records and the transaction

A buyer pays a deposit through the agent before signing the contract of sale. How should the agent handle these client funds in line with good professional practice?

  1. Mix them with the agency's general operating account
  2. Keep client money separate, account for it transparently, and pass it on as agreed Correct answer.
  3. Spend it on advertising the property
  4. Lend it to another client

Explanation

Client money must be kept separate from the agency's own funds, accounted for transparently, and released only as agreed. Misuse of client funds is a serious breach of the code of conduct and can lead to disciplinary action and liability.

Question 36Cyprus estate agency: registration, property records and the transaction

An agent learns that a property has a serious structural defect not visible to a buyer. What is the agent's professional duty?

  1. Conceal the defect to secure the sale
  2. Act honestly and not mislead the buyer about material facts Correct answer.
  3. Tell the buyer only after the contract is signed
  4. Raise the price because of the defect

Explanation

The code of conduct requires honesty and integrity. An agent must not misrepresent or conceal material facts about a property. Deliberately hiding a known serious defect is misleading conduct that breaches the agent's duties and can give rise to liability.

Question 37Cyprus estate agency: registration, property records and the transaction

What is a registered assistant real estate agent permitted to do under the Real Estate Agents Law?

  1. Independently run an agency and collect commissions in their own name
  2. Work under the supervision of a registered and licensed agent while gaining the required experience Correct answer.
  3. Issue title deeds at the Land Registry
  4. Grant planning permits

Explanation

A registered assistant real estate agent works under the supervision of a registered and licensed agent. This role allows the assistant to gain the practical experience (at least 12 months) needed to qualify, sit the examination and apply for full registration.

Question 38Cyprus estate agency: registration, property records and the transaction

To which Ministry does the Real Estate Agents Registration Council report?

  1. The Ministry of Interior Correct answer.
  2. The Ministry of Defence
  3. The Ministry of Health
  4. The Ministry of Agriculture

Explanation

The Real Estate Agents Registration Council is a semi-governmental body that reports to the Ministry of Interior, consistent with the Ministry's responsibility for land, planning and property matters in Cyprus.

Question 39Cyprus estate agency: registration, property records and the transaction

A real estate company wishes to offer estate agency services in Cyprus. What does the Law require of the company?

  1. Nothing, as only individuals need to be licensed
  2. It must itself be registered and licensed and operate through registered agents Correct answer.
  3. It must be listed on the Cyprus Stock Exchange
  4. It must be wholly foreign-owned

Explanation

A company carrying on estate agency work must itself be registered and licensed as a real estate company and must operate through registered and licensed agents. This ensures corporate as well as individual accountability under the Law.

Question 40Cyprus estate agency: registration, property records and the transaction

What is the most common consequence of a person carrying on estate agency work for reward without being registered and licensed?

  1. An automatic grant of registration
  2. It is an offence (illegal brokerage) liable to penalties under the Law Correct answer.
  3. A tax refund
  4. Promotion to assistant agent

Explanation

Carrying on estate agency for reward without registration and a licence is illegal brokerage, an offence under Law 71(I)/2010. The Council actively pursues such conduct, and offenders may face penalties and an inability to recover commission.

Question 41Cyprus estate agency: registration, property records and the transaction

Which condition relating to nationality is acceptable for registration as a real estate agent in Cyprus?

  1. The applicant must be a citizen of the Republic of Cyprus or another EU member state Correct answer.
  2. The applicant must be a national of any country in the world without restriction
  3. The applicant must renounce all other citizenships
  4. Only stateless persons may register

Explanation

Among the qualifying conditions, an applicant must be a citizen of the Republic of Cyprus or of another EU member state. This reflects the EU free-movement framework applied to the regulated profession.

Question 42Cyprus estate agency: registration, property records and the transaction

Under Cap. 224, who is generally recognised as having the strongest claim to immovable property in Cyprus?

  1. The person with the longest unregistered occupation
  2. The registered owner shown on the Land Registry record Correct answer.
  3. Any neighbour who maintains the land
  4. The person who pays the electricity bill

Explanation

Cyprus operates a registration-of-title system under Cap. 224. The registered owner shown on the Land Registry record holds the recognised legal title; mere occupation or payment of utility bills does not confer ownership.

Question 43Cyprus estate agency: registration, property records and the transaction

What does Part IIA of Cap. 224 provide a framework for?

  1. The licensing of estate agents
  2. Jointly owned buildings: ownership of units and the relations, rights and obligations of unit owners Correct answer.
  3. The taxation of company profits
  4. The regulation of road traffic

Explanation

Part IIA of Cap. 224 provides the framework for buildings in joint ownership: it governs the ownership, possession and enjoyment of individual units, common areas, and the relations, rights and obligations between unit owners (the basis of Cyprus's system for apartment blocks).

Question 44Cyprus estate agency: registration, property records and the transaction

A property is sold as an undivided share (merida) of a larger plot. What should an agent explain to the buyer about this?

  1. The buyer owns a specific fenced part automatically
  2. The buyer owns an ideal share in common with other co-owners, not a physically demarcated portion, unless and until division is registered Correct answer.
  3. Undivided shares cannot be sold in Cyprus
  4. The buyer becomes the sole owner of the whole plot

Explanation

An undivided (ideal) share means the buyer co-owns the whole plot in common with others; they do not own a specific demarcated portion unless a formal division is agreed and registered at the Land Registry. Agents must make this clear to avoid misunderstandings.

Question 45Cyprus estate agency: registration, property records and the transaction

Which document issued by the Department of Lands and Surveys records the official registered value used for various property-related calculations?

  1. The bus timetable
  2. The registration/valuation record of the property (including its assessed value) Correct answer.
  3. The agent's commission invoice
  4. The buyer's employment contract

Explanation

The Department of Lands and Surveys maintains the registration and valuation record for each property, including its assessed value. This information is relevant for transfer fees, certain taxes and other property calculations.

Question 46Cyprus estate agency: registration, property records and the transaction

When does legal ownership of immovable property formally pass to the buyer in a standard Cyprus sale?

  1. When the agent shows the buyer the property
  2. On registration of the transfer at the Department of Lands and Surveys Correct answer.
  3. When the buyer pays the deposit
  4. When the buyer receives the keys

Explanation

Legal ownership passes on the registration of the transfer at the Department of Lands and Surveys (typically upon presentation of the title deed and payment of transfer fees). Possession of keys or payment of a deposit does not by itself transfer registered title.

Question 47Cyprus estate agency: registration, property records and the transaction

A property's separate title deed has not yet been issued because the development is awaiting final certificates. What is the safest way for the buyer to protect their position pending title?

  1. Do nothing and rely on the seller's goodwill
  2. Sign a contract of sale and deposit it at the Land Registry under the Specific Performance Law Correct answer.
  3. Take possession without any contract
  4. Register the property as their own company

Explanation

Where a separate title deed is not yet available, the buyer protects their position by signing a written contract of sale and depositing it at the Land Registry under the Sale of Immovable Property (Specific Performance) Law, which secures the right to obtain the title once it issues.

Question 48Cyprus estate agency: registration, property records and the transaction

What is a 'memo' (memorandum) registered against a property at the Cyprus Land Registry?

  1. A marketing brochure
  2. A charge registered against the owner's property (for example to secure a court judgment debt) Correct answer.
  3. A weather report
  4. A planning permit application

Explanation

A memo is a charge registered against immovable property, commonly to secure a creditor's court judgment against the owner. It is an encumbrance that a buyer's Land Registry search would reveal and that must be cleared before clean transfer.

Question 49Cyprus estate agency: registration, property records and the transaction

A seller's property is mortgaged to a bank. Under the Transfer and Mortgage Law framework, what must generally happen for the buyer to obtain clean title?

  1. Nothing; the mortgage transfers to the buyer automatically as a benefit
  2. The mortgage must be discharged or otherwise dealt with so the property can transfer free of the charge Correct answer.
  3. The buyer must take over the seller's job
  4. The bank must become a co-owner

Explanation

A registered mortgage is an encumbrance under the Transfer and Mortgage Law (No. 9/65). For the buyer to receive clean title, the mortgage must be discharged or otherwise dealt with (for example via a partial release), typically arranged so that part of the price clears the bank's charge on transfer.

Question 50Cyprus estate agency: registration, property records and the transaction

Which of the following best describes the function of a contract of sale in a Cyprus property transaction before transfer of title?

  1. It immediately transfers ownership at the Land Registry
  2. It records the agreed terms and, when deposited, protects the buyer's right to compel transfer of title Correct answer.
  3. It is only a verbal understanding
  4. It replaces the need for any title deed

Explanation

A written contract of sale sets out the agreed terms (price, parties, property, timeline) and, when deposited at the Land Registry under Law 81(I)/2011, protects the buyer's right to specific performance, that is, to compel transfer of title once obligations are met.