What Does Allocation Coins Mean? Can I Buy a House with Allotment?
For those interested in real estate and property investment in the Turkish Republic of Northern Cyprus, the types of title deeds are among the most frequently asked questions. In this article, we will introduce you to the features and advantages of homes with allocation title deeds, as well as the different types of title deeds.
What Does “Allotment Deed” Mean?
The term “allotment deed” refers to a type of property title granted to individuals who provided exceptional military service to Northern Cyprus or were forced to migrate to the country following 1974. While the prices of properties with an allocation deed are more affordable, they are on par with all other deed types in terms of reliability. They are guaranteed by the Turkish Republic of Northern Cyprus.
What Does "Tahsis Koçan" Mean?
"Koçan" means title deed in Northern Cypriot Turkish. Generally, there are three different types of title deeds: Turkish Title Deed, Equivalent Title Deed, and Allotment Title Deed.
- Turkish Title Deed: This type of title deed is used for real estate owned by Turkish nationals or citizens of other countries prior to 1974.
- Equivalent Title Deed: This is used for properties granted to Cypriot citizens who migrated to the North after 1974, leaving their real estate in the South behind, in lieu of the value of the properties they left behind.
- Allocation Title Deed: This type is used for real estate granted by the TRNC to individuals who migrated from Turkey after 1974 or who have rendered outstanding services to the country.
For more information on this topic, visit the "What Does Koçan Mean? Types and Differences of Koçan in Cyprus" page.
Can You Purchase a Property with a Tahsis Koçan?
When purchasing a home in the TRNC, the different types of title deeds and their advantages are of particular interest to foreign investors. While all types of title deeds are equal in terms of reliability and investment opportunities, certain types command higher prices due to market supply and demand dynamics. However, all title deed types, including those with allocation title deeds, hold equal standing under the laws of the Turkish Republic of Northern Cyprus. For this reason, you can purchase a property with an allocation title deed with complete peace of mind.
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