Kibkom North Cyprus Forum

Has anyone any experience and details of process and KDV / Property tax due when transferring jointly owned house [Husband and Wife same name] to Husbands title only ?.

You only need to visit a Notar to do this, you will have to pay the taxes on the price of the sale plus KDV, as this will be classed as a sale to another person.

Sorry but I think Karmels is incorrect. KDV is only payable once per property as long as the owners are not classed as professional. Also each person owns half the property so tax if applicable would only be payable on 50% of its valuation.
If it is your first sale or you have not claimed exemption before you have a one off free of tax sale.
And of course you will have to attend the tax office and the land registry to sign the paperwork unless you appoint a Power of Attorney to do this for you.
You really need to take professional advice!

Ozankoys are correct, but it is classed as a sale. I did not take into account the joint ownership. The fact is it is a sale of half the property value plus registration into the new owners name plus the taxes due, as ststed if it is your first sale you can choose not to pay the taxes but you will have to pay the kdv.
My advise would be to do and see a notar for advise Not a Advokat.

I vaguely remember seeing somewhere that the property transfer tax on a gift between husband and wife was much reduced. It would be worth checking this out so that the transfer agreement is properly written. On the other hand I might have been dreaming.

There should be no kdv although an advocate will tell you otherwise so he can put it in his pocket.

Kdv is vat and is only paid once and has probably been already paid . Its not a transfer tax .

Have taken some prof advice but as with all things actual real time experience counts for a lot . It appears no KDV due[ already paid on purchase] and if it is gifted i am advised only a figure of 0.5 % property tax payable on half the value.

The sting it appears is the lawyers charges.

You do not need a lawyer to do this for you!! The people who work in the Land Registry are very helpful, the girl who sits at the first desk on the left speaks excellent English but go in the afternoon as it is absolutely manic in the morning. I think afternoons are 14.00 - 15.30 but there are moves afoot to make them work later which is causing uproar as you can imagine.