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www.sharmwomen.com • View topic - Buying property
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 Post subject: Buying property
PostPosted: Wed Mar 21, 2007 9:09 pm 
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Thanks, Zeiad, for this very comprehensive answer.


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Great information, thanks so much.


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You're most welcome.

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Dear Ziad,

I bought my property as a private villa(as opposed to Resort or development villas) from the previous Egyptian owner who bought the land though a government auction in 1988 and then built the house in 1989.

If I sell it in 10 years for example, does it mean that the new owner who will buy it from me, has to pay a fee to the original owner to get the lease extended from 89 to 99 years?

Thank you in advance.


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Hello Fiona,

This is my first post since long time, but not the last. I just had a lot of work to do and I'm now successfully scheduling my time in order to include this website in my work hours on daily basis.

First you have to tell me in which year did you buy your property?

If you've purchased it prior to the prime minister's decree number 548 of 2005, then this is a freehold case, and consequently the previous owner has nothing to do with you any more.

If the transaction has taken place post the aforementioned decree, then you're a usufructuary, and subsequently the landlord's approval is needed whenever you plan resell.

A good solution in this situation would be concluding a "renewability statement" between you and the landlord, stating that the usufruct period is renewed upon your discretion as long as you may wish, and stating that you have the right to waive this right upon your discretion as well. Also to conclude the very legal form called "Sale Pledge" stating that the landlord "PLEDGES" to sell you the property out "freehold" in case the aforementioned decree was nullified or abrgated entitling foreigners to be granted the freehold right in Sharm.

This would result in the fact that you will be able to transfer the usufruct right to the usufructuary with no trouble.

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Thank you Dr. Ziad for taking the time to respond to my question.


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I am not a doctor and you are really welcome. :)

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