What is an Equivalent Stub? Can You Buy a House with an Equivalent Stub?
The Turkish Republic of Northern Cyprus stands out among Mediterranean countries by offering unique real estate investment opportunities. With property prices—including homes, land, and commercial properties—being quite affordable compared to similar countries, short real estate amortization periods (averaging 120 months), and foreign currency-denominated rental and purchase prices, the TRNC attracts many investors looking to purchase real estate. For those beginning their research on real estate investment in Cyprus, the most frequently asked questions revolve around property title types and the concept of “equivalent title deeds.”
In this article, we will attempt to answer the questions: “What does ‘equivalent title deed’ mean?” and “Is it a good idea to buy a home with an equivalent title deed?”
What Is an "Eşdeğer Koçan"?
A title deed refers to a property deed in the TRNC and is an official document that specifies the details of a property along with its owner. There are three different types of title deeds in Northern Cyprus.
- Turkish Title Deed: Properties with a Turkish title deed are those owned by Turkish nationals or foreign citizens prior to 1974.
- Equivalent Title Deed: Properties with equivalent title deeds were issued after 1974 to Turkish Cypriots who migrated to the North, in exchange for the property they had left behind in Southern Cyprus.
- Allotment Title Deed: Allotment title deed properties. These are properties granted by the Turkish Republic of Northern Cyprus for various reasons (outstanding service to the state, forced migration, etc.).
What Does “Equivalent Title Deed” Mean?
As mentioned above, an equivalent title deed refers to properties granted after 1974. These were issued to Turkish Cypriots who abandoned their real estate in the South and migrated to the North as compensation for the properties they owned. While this type of title deed is guaranteed by the Turkish Republic of Northern Cyprus, it is also guaranteed under international law by equivalent properties in the South.
Can Real Estate with an Equivalent Title Deed Be Purchased?
Like all types of title deeds, properties with equivalent title deeds are also guaranteed by the Turkish Republic of Northern Cyprus. Therefore, equivalent title deeds are just as reliable as all other types of title deeds. If you are considering purchasing a residential home, apartment, villa, or commercial property with an equivalent title deed, you can purchase it with confidence without distinguishing between title deed types.
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To learn more about real estate prices in the Turkish Republic of Northern Cyprus, title deed types, the purchasing process, and other related topics, please contact us and take one step closer to owning your dream home.