The real estate sector in Egypt has witnessed a significant development in recent years, and it is expected to continue to achieve assured profits and growing expansion. Several factors support this development and make real estate in Egypt an attractive investment option. Thus, you should register your property to benefit from this remarkable development, in addition to ensuring your property right which allows you to successfully exploit the distinctive opportunities.
Reasons to register your property
Registering a property with the Land Registry delivers considerable benefits that enhance ownership rights for millions of proprietors. It provides definitive proof of title, secures owners’ legal rights and safeguards against fraud.
Here are some reasons lead to the importance of register your property as following:
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Easier to prove ownership
Once registered each property has its own title information document and its own plan. To be registered the land registry will have checked the original deeds and documents also known as pre-registration deeds. A solicitor acting for a buyer can obtain the title information document and plan very quickly and cheaply and check the title of the seller.
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Protection against adverse possession
Adverse possession is where a person with no documentary proof of ownership of land can claim ownership by virtue of their occupation. Significantly, the law treats adverse possession of registered and unregistered land very differently. It is much harder for a squatter to claim ownership of registered land.
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Third parties may prefer registered land
With registered property you may find it easier to remortgage or to enter into other agreements. Companies will find it easier to check your title and get a quick overview of your property. Conversely having to obtain your title deeds and then prove your title is likely to be a longer, more complicated process.
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State-Backed Ownership Rights
The legally binding assurance of ownership that registration delivers is underwritten by the state itself. This provides property owners with the strongest form of tenure security available. Even if challenged, the registered owner’s rights are guaranteed.
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Transparency of Interests
When purchasing a property, buyers rightly want to know if there are any existing rights, claims or interests attached to it. This may include a mortgage, restrictive covenant, easement or lease. The title register helps provide this transparency.
Required documents for registration in Egypt
In the Arab Republic of Egypt, the registration of real estate is governed by the Egyptian Civil Code No. 131 of the year 1948, Real Estate Registration Law No. 114 of the year 1946, as well as the Law amending the Real Estate Registration Law No. 9 of the year 2022.
Before the issuance of the Real Estate Registration Law No. 9 of the year 2022, the procedures for real estate registration were very complicated, and many people found difficulty in registering their properties. Accordingly, Egypt introduced the aforementioned law, which amends some provisions to the previous law to put an end to all these complications and make the registration process as simple as possible.
In general, the required documents are as follows nevertheless, additional documents may be required that vary according to the property cases mentioned above.
- Information confirming the identity of the parties to the contract to be registered, their powers, and their role in the contract.
- Official map coordinates showing the location of the property, or any other official document providing this information.
- Declaration of the owner of any existing personal or real rights to the property to be registered.
- The title deed of the real estate to be registered (the title deed contract of the seller or the previous owner).
- A power of attorney from the seller authorizing the buyer to sign the final deed of sale before the real estate notary, in the case of a sale contract.
For more information about how to register your property, Just Contact best legal team at “Consortio Law Firm” via the phone number 002 01028806061 or via WhatsApp or email Info@consortiolawfirm.com.