What Is a Tahsis Title Deed? TMD Risks
Short answer: A tahsis title deed (koçan) is the title deed for immovable properties distributed by the Northern Cyprus (TRNC) state after 1974 through a points system or for social purposes (to groups such as migrants from Turkey, mücahits, and families of martyrs); it is also known in the market as a "TMD title deed". If the title deed is registered, it represents full ownership in the TRNC and can be sold. The main risk lies in properties that have an allocation decision but whose title deed has not yet been issued, and in gaps in the chain of rights.
The question of what a tahsis title deed is usually comes with an attractively priced listing: a house or plot that is clearly cheaper than similar properties in the same area. This article explains what a tahsis title deed is, how an allocation decision turns into a title deed, and which questions you need to see answered in writing before buying such a property. The aim is not to alarm you, but to help you calculate the real cost of the lower price.
What is a tahsis title deed?
A tahsis title deed is the title deed issued for an immovable property that the state has "allocated" to a person, meaning granted in return for a recognised entitlement. Its difference from an exchange title deed is that the entitlement is based not on a property left in the South, but on another status.
Groups receiving allocations included migrants who came from Turkey and settled after 1974, mücahits and veterans, families of martyrs, and beneficiaries of various social housing programmes. As with exchange properties, distribution was carried out through a points system within the framework of the 1977 Settlement, Land Distribution and Equivalent Property Law (İTEM, 41/1977) and subsequent regulations.
Most allocated immovable properties belonged to Greek Cypriots before 1974. Therefore, the international risk associated with exchange title deeds also applies here; we explained the details of this risk in our article what is an exchange title deed. What distinguishes a tahsis title deed is the additional local and person-specific risks layered on top of this.
What does "TMD title deed" mean?
In the market and in foreign-language sources, a tahsis title deed is often referred to as a "TMD title deed" or "TMD title". We could not find a source confirming the official meaning of the abbreviation; in practice, the two expressions are used to describe the same category. Whatever wording appears in the lawyer’s report, the question to ask is the same: has the title deed been registered, and is the seller the registered owner?
Is an allocation decision the same as a tahsis title deed?
No. This is the most important distinction in this article: an allocation decision (or allocation certificate) shows a person’s right to use an immovable property or to have it registered in their name in the future; a tahsis title deed is the stage where that right has been entered in the Land Registry as ownership.
The allocation process broadly proceeds as follows: the person’s entitlement is recognised, their points are calculated, an immovable property is allocated, and once the required points and procedures are completed, the title deed is issued. This final step has been quick in some files and has taken years in others. There are also allocations whose title deeds have never been issued due to missing points, disputes between heirs, cadastral corrections or administrative delays.
| Status | What is held? | Can it be sold? | Risk for the buyer |
|---|---|---|---|
| Allocation decision exists, no title deed | Right of use or registration | Transfer at the Land Registry is not possible; only an assignment of rights agreement can be made | High: transfer may be delayed or may never happen |
| Title deed issued, registered in the beneficiary’s name | Full ownership | Yes, through ordinary transfer | Medium: chain and inheritance checks are required |
| Title deed issued, changed hands several times | Full ownership | Yes | Medium: previous transfers must be checked for proper procedure |
| Special-status allocation (e.g. plot for a martyr’s child) | Right subject to special conditions | Transfer conditions depend on legislation; it is not freely bought and sold on the open market | High: no transaction should be carried out without a lawyer’s opinion |
The first row in the table is the situation that most often causes problems in practice. The seller says "the title deed will be issued soon", the buyer pays a deposit and even most of the price, and then the title deed is not issued for years. Because such an agreement cannot be registered at the Land Registry, the buyer does not have strong security in hand.
Tahsis title deed conversion: how is the title deed issued?
The conversion of an allocated immovable property into a title deed depends on the beneficiary completing the points and application procedures and the relevant authorities completing the registration; this is not a process that the buyer can speed up.
The process varies by file and there is no published standard timeframe. Common obstacles include the beneficiary having passed away and the heirs not having completed the transfer by inheritance, the points not being sufficient for the value of the property, the parcel needing correction in the cadastral records, or the allocation overlapping with another person. We explain how a title deed is transferred in inheritance cases in our article on title deed transfer by inheritance in the TRNC.
You may also come across claims in the market that "a tahsis title deed can be converted over time into an exchange title deed or Turkish title deed". Conversion into a Turkish title deed is not possible, because the type of title deed depends on the land’s pre-1974 record. As for a transition from tahsis to exchange, we could not find a reliable source; if you hear such a promise, ask your lawyer to request its basis in writing. As of October 2026, this is a matter that needs to be verified.
How cheap is the low price? Sample calculation
Properties with tahsis title deeds are generally the cheapest among the three title deed types; however, this lower price must be assessed together with additional due diligence costs, possible waiting time, and a narrower buyer pool.
Consider an example. Two detached houses of similar size in the same village: the one with an exchange title deed is 120.000 £, while the one with a tahsis title deed is 102.000 £. The 18.000 £ (%15) difference looks like a major advantage at first glance.
- Additional legal review: Examining the allocation chain, heirs, and previous transfers requires more work than a standard investigation. Assume that the lawyer’s fee may approach the upper end of the usual range (approximately 1.000–2.500 £ + VAT).
- Waiting cost: Even if the title deed has been issued, if the transfer is delayed by 6 months due to a missing item such as an heir’s signature and you are renting during that period, for example, an additional cost of 3.000 £ arises at 500 £ monthly rent.
- Loan: Some banks may not provide loans on tahsis title deeds or may assign a low collateral value. If you are buying with a loan, this can make the price advantage completely meaningless.
- Exit: When selling, the buyer pool also narrows. The %15 discount at purchase may return as a similar or larger discount on sale.
In this scenario, the 18.000 £ advantage can easily fall to 13.000–14.000 £ with additional costs and waiting; once the discount on the sale side is also factored in, the net gain becomes uncertain. The figures are only intended to show the calculation logic; real price differences vary from listing to listing, so verify them.
Checklist when buying a property with a tahsis title deed
For a property with a tahsis title deed, in addition to the standard title deed investigation, the chain of rights must be checked from beginning to end. The scope of the standard investigation is covered in our TRNC title deed search article; here are the allocation-specific steps:
- See that the title deed has been registered: An allocation decision, allocation certificate, or a letter saying "in process" is not enough. The lawyer’s report should include the registration date and number of the title deed.
- Confirm that the seller is the registered owner: If the seller is an heir of the first beneficiary, check that the inheritance transfer has been completed and that all heirs have approved the sale.
- Examine previous transfers: If the property has changed hands before, make sure the transfers were duly made at the Land Registry; in old sales made by power of attorney, the scope of the power of attorney should be reviewed.
- Question any special status: Find out whether the immovable property is an allocation subject to special transfer conditions, such as a plot for a martyr’s child.
- Check encumbrances: Have any mortgages, attachments, and annotations recorded in the written report.
- Ask about the loan in advance: If you will use a loan, obtain preliminary approval from the bank that specifies the title deed type.
- Register the contract at the Land Registry within 1 month: The current rule for foreign buyers requires the contract to be registered with the district land registry office within 1 month, with taxes and fees paid. For a property whose title deed has not been issued, this step is already impossible; that in itself is a warning.
You can find a summary of the legal framework on foreign acquisition of immovable property on our TRNC Immovable Property Law page. Official texts of laws and decrees are published in the Official Gazette through the TRNC State Printing Office.
Who is a tahsis title deed suitable for?
A property with a tahsis title deed may be a reasonable option for buyers who purchase in cash, plan to hold the asset for a long time, have assets in Turkey, and can devote time to additional legal review. It is generally not suitable for buyers who will use a loan, plan to sell in the short term, or have assets in the EU.
One of the questions received by the Akol Global after-sales team comes from people who bought a low-priced property with a tahsis title deed in their first purchase and then struggled when selling. The common point is almost always the same: at the time of purchase, they did not check whether the title deed had been issued or the status of the heirs. For a full comparison of the three title deed types, you can read our main guide to TRNC title deed types.
Frequently asked questions
Can I buy a house that has an allocation certificate?
For transfer at the Land Registry, the title deed must have been registered. If there is only an allocation certificate or decision, the only possible document is an assignment of rights agreement; this agreement does not provide ownership at the Land Registry and leaves the buyer unsecured if the title deed is never issued. Therefore, before paying any amount for a property whose title deed has not been issued, you must obtain a written opinion from an independent lawyer.
Can a tahsis title deed be converted into a Turkish title deed?
No. The type of title deed is determined according to the land’s pre-1974 title deed record; subsequent transactions do not change this. Land that was Greek Cypriot property before 1974 does not become a Turkish title deed, regardless of whose name it is registered in. As for the claim of transition from tahsis to exchange, we could not find a reliable source; ask your lawyer to request the basis of such a promise in writing.
Can a bank loan be obtained for a house with a tahsis title deed?
It depends on the bank. Some banks do not provide housing loans on tahsis title deeds or keep the collateral value low; others will consider it if the title deed has been registered and the valuation is suitable. If you plan to buy with a loan, obtain preliminary approval from the bank before the contract, stating the title deed type; otherwise, you may be left without financing after paying a deposit.
What happens if the owner of a property with a tahsis title deed has passed away?
If the title deed has been registered, the property passes to the heirs, and for the sale, all heirs must complete the inheritance transfer and participate in the sale. If the beneficiary passed away before the title deed was issued, the process is more complex; how the allocation right passes to the heirs must be examined separately. In both cases, agreeing with and paying only one heir is a serious risk.
Are the fees and taxes for a tahsis title deed different?
No. Title deed transfer fee, VAT, and stamp duty do not vary according to the type of title deed; the same rates apply. The difference lies in the additional legal review cost and the indirect costs created by possible delays. As of October 2026, fee rates are applied under a temporary discounted tariff; confirm the current rate with your lawyer before the transaction.
If you are not sure how to evaluate the documents of a property with a tahsis title deed that you are considering, you can write to the Akol Global team; together, we can clarify which documents you should request from your lawyer.
This article is for informational purposes only; it does not replace legal, tax, or financial advice. Last updated: October 2026.