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New Title Deed law by year end

INTERIOR MINISTER Nicos Sylikiotis has assured property buyers that newly proposed legislation to resolve problems in the sector could be implemented by the end of the year. According to a statement yesterday by the Cyprus Property Action Group (CPAG), the minister said meetings had taken place recently with the Land Registry, to find ways to […]

INTERIOR MINISTER Nicos Sylikiotis has assured property buyers that newly proposed legislation to resolve problems in the sector could be implemented by the end of the year. According to a statement yesterday by the Cyprus Property Action Group (CPAG), the minister said meetings had taken place recently with the Land Registry, to find ways to eliminate delays in the issuing of Title Deeds and that extra resources were being drafted in.

It is estimated that some 100,000 buyers on the island are still awaiting Title Deeds some for as many as 20 or 30 years.

“Sylikiotos… seemed well aware of the specific details, including difficulties with developers who had mortgaged properties they had sold to unsuspecting buyers,” said CPAG. “He assured us that at the moment he was more interested in the problems of the house-buying public than in those of the industry.”

The Minister also promised CPAG he was ready to meet with them whenever needed and invited them to submit any special cases direct to him. He also invited them to discuss specific suggestions and proposals with his senior officials.

A separate meeting is being arranged with the Minister of Justice and Public Order to discuss issues such as the reporting and progressing of fraud cases, law enforcement and difficulties with lawyers and the legal system in general, with reference to property problems, CPAG said.

Copyright © Cyprus Mail 2008

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