Quote:
Originally Posted by alison9071
there are two ways to register a property in egypy
1, full registration will cost around £300 plus legal fees around £200 if you do this you will not be able to sell for 5 years
2. court registration, has all the protection of full registration but you can sell at any time and will only cost around £100 plus legals
|
Please be informed that "registration" CANNOT be done via courts, registration is the highest form of protection and is done only through the notary office where registration is stamped on the margin of the sale contract.
Doing it through courts is NOT registration, it is a less form of protection that registration, but stands as the solely avalable choice for foreigners in some parts of Egypt "as for Egyptians also".
You were right in the part that when registration is applied, it can't be resold except after 5 years.
The situation in Sinai peinsula, and Sharm el Sheikh in particular, is different though.
Governmental fees for registering a property WHERE IT IS ALLOWED TO REGISTER doesn't exceed 2000 EGP, while legal fees for registration differ from a lawyer to another, but yeah it'd be within the range 300 GBP - 400 GBP, while these fees are higher when it's done through court, since it's not that easy process; it takes time and real effort, and fees in this case range 500 - 600 GBP.
Finally, I just care to shed light on the fact that there is nothing called "Court Registration", but there are 2 types of court suits; Signature Validity "The prevalent type", and Contract Validity "Rarely used, for it's very strict requirements".
For more information please check my legal presentation posted on this forum in another thread. Read the aapendix also please.
Zeiad Yehia
Head of Legal Department
City and Urban International
Gendy Mall, King of Bahrain St., 2nd Floor,
Neama Bay, Sharm el Sheikh,
South Sinai, Egypt.
Telephone: +20 69 3601515
Fax: +20 69 3601520
Cellular: +20 12 3344988
email:
legaladvisor@cui-egypt.com
cui-egypt.com