"Tawkil" in Egypt. What is it?
Many foreighners buying property in Egypt are faced with the concept of "Tawkil." What is that? Buying property in Egypt, you need to know about the most important document that confirms your ownership of an apartment in Egypt - General Power of Attorney or in Arabic "Tawkil".
Tawkil - is the main document that you get when buying property in Egypt. At its core, Tawkil is a general power of attorney giving you the right to dispose of your property in Egypt.
This document confirms the payment of the full cost of an apartment in Egypt. Its issuance means the completion of all financial obligations between the parties. The buyer and the seller according to the real estate purchase and sale agreement in Egypt. In the case of buying an apartment in installments, Tawkil can be issued to a new owner only after 100% payment of the cost of property in Egypt under the contract.
Important points about Tawkil:
- When you are buying a resale property, you must receive the original Tawkiles of all previous property owners.
- This document can only be in Arabic.
- General Power of Attorney must be certified in the notary's office.
- With Tawkil you can give, inherit or resell your new property.
Its issued by the Notary Public Office of the Arab Republic of Egypt - "Shahr El-Akari". Wich is based on the statement of the seller and then transferred to the buyer. There you can get a duplicate document (notarized copy). Confirming your ownership of an apartment in Egypt in case of loss or damage. Tawkil data is recorded in the archives of the civil service and stored for an unlimited period. To speed up the issuance of a copy of the power of attorney by the ARE authority in such unforeseen situations, you can provide a copy of Tawkil or information on the number, date of issue of the lost one.
Basic information that is indicated in Tawkil:
The seller's data, information about the property, the buyer's data, including passport data. Specifies the rights of the new owner (the right of complete disposal and the right of sale).
The amount of the purchase is not specified.