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Cyprus minister denies ignoring deed issue

According to a statement issued to OPP the Cyprus government has not stated that the measures that are being studied will not concern those who have already bought houses or other buildings. But precisely how the new measures will help is unclear.

THE CYPRUS government has responded to recent reports that new title deed legislation will not help existing property owners.

A statement issued to Overseas Property Professional (OPP) reads: “The Interior Minister [Neoclis Sylikiotis] has not stated that the measures that are being studied will not concern those who have already bought houses or other buildings.

“Measures will be introduced which will allow the competent authorities to intervene independently in cases where the original owner-seller is indifferent or refuses to implement his obligations regarding the issuing of separate title deeds.

However, the government also admits that “the content of immovable properties sale contracts that have already been signed between sellers and buyers cannot be altered“.

The statement follows information given to the UK House of Lords last week when foreign office minister Lord Malloch-Brown revealed that Sylikiotis had said legislation would “only apply to future cases“.

Lord Jones of Cheltenham has since asked the UK government whether it would support the closure of Cypriot property companies’ UK offices and ban them from trade exhibitions.

© Overseas Property Professional

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