The Power Of Attorney

Is it possible to purchase property in Northern Cyprus if I am not physically present there? Yes, you can still buy property in Northern Cyprus by utilizing a Power of Attorney. This legal document enables you to designate someone to represent you in the property transaction.

It’s essential to note that a Power of Attorney can be especially beneficial for individuals who are elderly, have a disability, or can’t able to travel to Northern Cyprus. In such cases, a Power of Attorney can ensure that a designated person is available to oversee their affairs and make decisions on their behalf.

‘To buy property with a Power of Attorney in North Cyprus, the grantor must first create a valid Power of Attorney document, which authorizes the attorney-in-fact to act on their behalf in property transactions”

In order to purchase property in Northern Cyprus through a Power of Attorney, it is necessary to produce a legally recognized Power of Attorney document that grants someone the authority to conduct property transactions on your behalf. The document must be notarized and translated into either Turkish or English, depending on the language requirements of the transaction.

Power of Attorney for North Cyprus Property Purchase

There are two ways to purchase a property solely in your name – in Northern Cyprus or in your home country. In North Cyprus, setting up a Power of Attorney for property purchase is usually free of charge, but it can be more expensive and time-consuming to set up from abroad. The purchase of a property in North Cyprus involves two stages, both of which require a lawyer to act on your behalf through a Power of Attorney.

The first stage involves the lawyer signing the contract on your behalf. The second stage, which typically occurs several months later after obtaining Permission to Purchase, involves the transfer of the title deed into your name, which the lawyer will also arrange. If you possess a Kimlik card as a Turkish Cypriot, you are not required to obtain Permission to Purchase. However, it is still advisable to hire a lawyer to verify the legality of the transaction and ensure that the contract adequately safeguards your interests.

The individual you designate as your attorney-in-fact would have the authority to execute a purchase agreement and sign all necessary documents, including title deed transfer and sales contracts, on your behalf. It is important to select a trusted individual who will act in your best interests and to provide them with clear instructions on how to proceed with the transaction.

Powers of Attorney can be created for various purposes, such as financial management, property transactions, and healthcare decisions, and can be granted to family members, friends, attorneys, or other trusted individuals. To create a valid Power of Attorney, the grantor must sign the document in the presence of two witnesses who are not beneficiaries or relatives of the grantor or attorney-in-fact, and the document must be notarized by a notary public or other authorized person.

If the grantor resides in a country with a TRNC Representative Office, they can take the Power of Attorney to the local office for signing. If there is no TRNC Representative Office, the grantor can take the document to the nearest Turkish Embassy. It is important to note that while there is usually no charge for setting up a Power of Attorney in North Cyprus, it may be more time-consuming and costly to do so from abroad.

To set up a North Cyprus Power of Attorney for a property purchase, you will typically need the following documents:

1. Power of Attorney form: This is the legal document that authorizes someone to act on your behalf. It must be in writing and signed by you in the presence of a notary public.
2. Identification documents: You will need to provide proof of your identity, such as your passport or national ID card.
3. Property details: You will need to provide the details of the property you wish to purchase, including its location, size, and any other relevant information.
4. Legal documents: You will need to provide any legal documents related to the property purchase, such as a sales agreement or contract.
5. Payment details: You will need to provide details of how you will pay for the property, including any deposit or payment schedules.
6. Contact details: You will need to provide the contact details of the person you are appointing as your attorney-in-fact, as well as any other relevant contact information.

It is worth mentioning that the requirements for setting up a North Cyprus Power of Attorney for property purchase may vary depending on your particular situation and the local authorities’ requirements. Therefore, Senilk Real Estate always advises clients to consult with a local attorney who is familiar with the process to ensure that all necessary documents and information are obtained.

Apart from using a Power of Attorney, there are other ways to purchase property in Northern Cyprus while you are not physically present. One way is to work with a reputable real estate agency like Senilk Real Estate or an appointed lawyer who specializes in property transactions.

To ensure the security of a Power of Attorney document, it is crucial to store the original in a safe location, such as a safe or safety deposit box, and provide a copy to the attorney-in-fact. The grantor should also inform relevant parties, such as banks or financial institutions, about the existence of the Power of Attorney and provide a copy if required.

Regular review of the Power of Attorney is also important, as changes in circumstances such as marriage, divorce, or the birth of a child may necessitate changes to the document. If the grantor wants to revoke or modify the Power of Attorney, they should do so in writing and inform the attorney-in-fact and other relevant parties without delay.

In summary, a Power of Attorney is a useful legal tool that can offer peace of mind when purchasing property in Northern Cyprus from overseas. However, creating a Power of Attorney requires careful thought and planning, and individuals should seek legal advice to ensure the document is valid and enforceable.

By properly executing a Power of Attorney, the grantor can be confident that their property and financial interests are protected in Northern Cyprus. If you have any further queries regarding the setup of a Power of Attorney for a property purchase, please contact our local lawyer or reach out to Senilk Real Estate at +90 5338502662 for guidance.