If the seller sells their property and the buyer does not pay the full purchase price immediately, the seller generally retains ownership until the full purchase price has been paid, i.e. they will only consent to the buyer's ownership being entered in the land register once the buyer has paid the full purchase price.
In such cases, the solicitor who drafted the contract submits the contract of sale to the land registry and requests that the land registry register the buyer's right to retain ownership of the property until the full purchase price has been paid. The real estate authority suspends the procedure for registering ownership for a maximum of six months from the date of submission of the application.
When the buyer pays the full purchase price of the property, the lawyer who drafted the contract submits the registration permit previously issued by the seller and deposited with the lawyer to the land registry office, and on this basis, the land registry office registers the buyer's ownership in the second part of the title deed and deletes the buyer's right from the third part of the title deed.
If the registration permit is not submitted within 6 months of the submission of the buyer's registration application (during the suspension period as described above), the buyer's right will begin to function as a prohibition on alienation and encumbrance.