New bill to prevent homeowners left fighting for title deeds

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Paphos Life
Posts: 3101
Joined: Tue Feb 28, 2017 9:20 am

New bill to prevent homeowners left fighting for title deeds

Post by Paphos Life »

Deputies on Wednesday were discussing a mechanism aimed at protecting - and preventing - trapped buyers, after Finance Minister Constantinos Petrides submitted a bill to the House legal committee. The aim is to avoid the situation whereby thousands of homeowners were left without their title deeds despite paying for their...

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Anarita John
Posts: 902
Joined: Thu Dec 29, 2016 8:18 pm
Location: Formally Rochdale, Penrhyn Bay and Anarita

Re: New bill to prevent homeowners left fighting for title deeds

Post by Anarita John »

Hope it works. I would not wish what we and our neighbours went through on anyone. There are still people who have not got their deeds because their developer went bust and many who lost thousands. What happened in the noughties still needs to be addressed.
Firefly
Posts: 3040
Joined: Wed Dec 28, 2016 2:08 pm
Location: Hereford UK

Re: New bill to prevent homeowners left fighting for title deeds

Post by Firefly »

A Ridiculous state of affairs.

Had we known that our deeds would not be ours upon purchase, we would never have bought property in Cyprus. Being ignorant of this, we lived in Cyprus for nearly ten years, in our own home, and still didn't have our deeds when we sold. Luckily for us, this didn't hold up our sale.

The law should be simple, purchase the property, purchase the deeds, not rocket science.
It's not the size of the dog in the fight, it's the size of the fight in the dog.
Anarita John
Posts: 902
Joined: Thu Dec 29, 2016 8:18 pm
Location: Formally Rochdale, Penrhyn Bay and Anarita

Re: New bill to prevent homeowners left fighting for title deeds

Post by Anarita John »

Our solicitor, who people still keep recommending on Facebook, told us, over a period of at least two years, that there was no mortgage on our land and she had done all the relevant searches at the Land Registry. It was only when our builder went bust and we did our own searches, that we found out that he had taken out mortgages before our contract signing date and we were liable for them. He had never paid his mortgages.
Eventually, we went to Louise Zambartas in Limassol and she did a brilliant job negotiating with the bank so that we were free from all encumbrances and were able to get our deeds.
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