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Originally Posted by MickeyG
Hello, This is my first post on this forum and I would like to thank everyone for all the information that appears on here...very useful.
I am in the process of buying a 2 bed on Desert Pearl and after reading on this forum about the registration issue I checked with the selling agent here in the UK who when they got back to me told me the developer was going to register the properties. It may be worth other investors in D.P. checking & confirm. I requested that this be given to me in writing and was told that wasnt a problem.
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This is not a good answer. The developer CANNOT register YOUR property. The developer can only register the land, then the WHOLE building which then gives the developer the legal right to EVERY apartment so he can sell each one. ONLY YOU can rergister YOUR apartment. This can only be done at the land registry in Hurghada by YOU being present to sign the "book" or by giving a Power of Attorney to someone that you totally trust.
Any agent who does not understand this should check out some of the legal posts on this web-site and get a better understanding and likewise the developer.
I suspect that the agent has either mis-understood the process.
The starting point for your process is to get a copy of the LAND DEED that proves who actually owns the land, then you need a copy of the deed that proves that the developer owns the apartments that he is selling (only available when they are "substantially completed") - you also need to be sure that YOUR contract is with the person or company that owns the land, not an agent or someone else.
Assuming that you are buying "off-plan" your initial contract is really only an option to buy at a fixed price something that will exist in the future, which means a further document has to be given to you once you complete your payments that will complete the contract and allow YOU to register.
In this situation you should not simply allow this to be done without YOU being directly in control, even if it seems like more effort - the downside is that there could be problems with the ownership by the developer UNTIL such time as at least ONE owner has completed the process and registered, if this has not been done yet there is still a risk.
Ask the the agent to give the names of a few other owners and start a "club" to make sure everyone gets the same info and that at least one of you will get a lawyer in Hurghada to cover YOUR interests.
My owners already know each other and have started a group process through a single lawyer.
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