When browsing property listings in Cyprus, you may encounter some unfamiliar terms. You may not have heard these terms before, as they are unique to Cyprus and are used in legal regulations due to the difference in real estate situation between Northern and Southern Cyprus.
What is a Kocan?
“Kocan” actually means title deed. In Cyprus, title deeds are called “kocan.” However, there are different types of title deeds. There are three different types of title deeds: Allocation title deed, Turkish title deed, and Equivalent title deed. It is possible to see these types of title deeds in real estate advertisements in the Turkish Republic of Northern Cyprus (TRNC). Even if the type of title deed is not specified in the real estate advertisement, it is necessary to find out. Because there is a risk of problems with title deed types other than the Turkish title deed.
Allocation Certificate
As you know, the island of Cyprus is divided in two. Due to this division, Greeks and Turks were forced to migrate to two separate regions. At the same time, when this division occurred, some citizens from Türkiye also migrated to the Turkish part of Cyprus. The state allocated plots of land and houses to the Turks who went to Cyprus. The title deeds for these houses and plots of land, allocated by the state to citizens during that period, are known as allocation certificates.
Turkish Deed
Land and housing deeds owned by Turkish individuals before 1974 are called Turkish title deeds. In other words, the title deeds of properties owned by Turks before the division of territories are Turkish title deeds. Turkish title deeds command the highest value and are therefore in high demand. However, all title deeds are considered equal by the state.
Equivalent Certificate
When Cyprus was divided, there was a reciprocal migration. Greeks from the north migrated to the south, and Turks from the south migrated to the north. These people owned registered properties in both the South and the North. The land and houses given to them in the south and north were equivalent in title deeds and had equivalent title certificates.
Other Things to Know
What is the Mujahid Score?
The rights granted to Turks who fought for their country in 1974 and before are called “mujahideen points.” Land and housing designated by the state have been distributed according to these points. Mujahideen and veterans have become property owners in Northern Cyprus in this way.
If you are considering buying a house or villa in Cyprus, you can always benefit from our expertise. You can also insure your property to protect it. For more information on this, you can read the article titled “How Do I Insure My Home in Cyprus?”
What is a Shared Title Deed?
A type of title deed that shows the co-owners of a property is called a shared title deed. The names of the property owners are clearly written on a shared title deed, and the number of co-owners is indicated. However, it is not specified which co-owner owns which portion of the property.
In joint ownership, either co-ownership or shared ownership may be involved. In co-ownership, the shares of the co-owners are not divided into specific portions. In shared ownership, the real estate is divided into specific portions. Each owner’s share is determined proportionally.
