Handing over your home to a family member in Cyprus.

[JimX]

We are considering putting our home over to a family member or members, we have made a Will many years ago, but feel the time is near that we intend to see a lawyer knowing that you have to protect your end of the change, anyone have any advice please, Nigel Howarth gave me good advise but it is always good to hear from members who have made this change.

Thank you.

[darrow]

I remember reading quite a while back that someone went to the land registry and had their family member added to the title deeds. I too, would be interested if anyone has done this, and the pro's and con's. It must have crossed someone's mind in the past and if they acted on it.

[sued51]

We transferred my mothers house over to me last year when she was diagnosed with dementia - this was on the advice of our lawyer just in case the house had to be sold to pay for care etc, it would be much easier for me to be able to do this as apparently Power of Attorney is useless in such a case.

It was a very simple procedure costing around 500 euros and as my mother and I already have a joint bank account here for her use, it should make things very easy "when the time comes" as I will be able settle everything without having to wait for probate and if necessary sell the house to pay for care meanwhile.

However, it was pointed out that ours was a straightforward case because I am an only child and my mother's Cypriot will had already been made leaving everything, including the house to me, I don't think our lawyer would have been so quick to recommend doing the same thing if the house was to be split between several people, presumably one person would have to be nominated to be "in charge" and no doubt ensuring things were done fairly would entail more costs and possibly cause a lot of family arguments!

[Devil]

It can be done more easily with a Gift Deed incorporating lifetime usufruct for the original owners.

[PW in Polemi]

Jim, when Dave was diagnosed with imminently terminal cancer in 2017, our lawyer pulled out all the stops and had the property deeds transferred from joint names to my sole name. The Land Registry acted very quickly, and as it was a spouse-to-spouse transfer, there were no transfer fees. I understand the same no fee situation applies for direct familial transfers too.
If you transfer your house into, say, your daughter's name, will you also have a legal contract whereby you have life enjoyment? Even in the most loving of families, arguments do happen ...

[JimX]

Thanks all and especially Kay, yes I do understand you would need to cover a life long ownership until we all have departed. I will have to look into all options, again thanks.