EK Real Estate

Real Estate Sector encompasses some of the most important services and activities of the Advisory Department of the Firm, as it undertakes various tasks, as well as advisory services, focused on issues covering all fields of Real Estate Law. The valuable experience of the members of the Sector, facilitates the provision of specialised services to complicate Real Estate issues and tailored solutions according to the needs of the customer, either individuals or organisations and businesses. Moreover, the Sector has an active involvement in the study and preparation of bills, offering legal support during the drafting process, while the Sector also has carried and carries out a plethora of projects, from initiation until their implementation.
 

Services

Among others, the services offered by the Real Estate Sector, can be summarised as follows:

• Provision of legal opinions and advisory services about issues related with real estate and especially the sale and lease of land and properties, construction and development projects,
• Drafting of Agreements related with any real estate issues, included but not limited to Sale and Purchase Agreements, Lease Agreements, Separation Agreements, Reservation Agreements, Settlement Agreements, Assignment Agreements and others,
• Provision of advisory service through the representation of clients, both individuals and legal entities, in negotiations and exchange of correspondence on issues covering the whole range of Real Estate Law: recovery of possession of leased properties, breach of contractual and legal obligations of tenants, securing the clients’ interests as deriving from their rights pursuant with agreements they have entered into,   
• Provision of legal support on technical issues covering the process of immovable property transfer, from the negotiations about the terms of the Sale and Purchase Agreement, until the transfer process before the Land Registry Offices, offering support throughout the process on various tax issues and dealing with any procedural tasks before municipal or national authorities,
• Provision of legal support and advisory services in relation to the process of obtaining any permit necessary for any type of immovable property and before all competent municipal, national and town planning authorities,
• Performing legal due diligence reports for immovable property and assets and preparation of due diligence reports focusing of potential risks, threats or legal issues, as well as in depth evaluation and analysis of property valuation reports and technical due diligence reports,
• Provision of legal support to financial institutions and credit acquiring companies on the whole range of their activities and specifically on issues of immovable property mortgaging, as a collateral for granting credit facilities, loan restructuring and the acquisition of immovable property through either DFAS or repossession through foreclosure, as well as the asset management of the property after becoming REO, και τη μετέπειτα διαχείριση των ακινήτων αυτών (REO) and others,
• Provision of full legal support to asset management companies in the form of legal advice, drafting and reviewing of various agreements, formation of company procedures and the provision of advisory services in relation to the management of every immovable property type.

Milestones

• Among others, Real Estate Sector provides legal and advisory services on issues of Real Estate Law, undertaking the representation of individuals as well as notable construction and development companies and organisations managing a large number of properties,  
• Real Estate Sector has provided and is still providing legal support to the Ministry of Finance of the Republic of Cyprus in relation to the “Mortgage to Rent” Scheme. The contribution of the Sector was valuable, including but not limited to the drafting of amending bills and especially with regards to immovable property issues, lease issues and providing legal opinions on Cypriot and European legislation about property and tax issues.
• Real Estate Sector had active participation in the drafting process of the amending bills in relation to the Restructuring of Credit Facilities, focusing on the process of immovable property swap for the partial of full repayment of debt, providing legal support during the drafting process of the bills. 
• Real Estate Sector has successfully undertaken and undertakes various significant projects on behalf of financial institutions and credit acquiring companies, delivering the desired results within the set timeframes.

Real Estate Sector exclusively supports, among others, organisations with a large number of properties to manage, providing services on a daily basis, assisting with every type of transactions and drafting and reviewing lease agreements, licence agreements and many other types of agreements.