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Land Registry failings come under scrutiny

Some Land Registry employees believe they represent Saint Peter on earth said Auditor General Odysseas Michaelides at a meeting of the House ethics committee, deciding who will go to Heaven or Hell when it comes to property issues.

Properties without Title Deeds give banks headaches

Developers who didn’t follow the rules are giving the banks headaches as a number of repossessed properties and homes without Title Deeds are now re-entering the property market.

Limassol land registry operating like a free-for-all

The situation in the Limassol Land Registry is chaotic with complaints of dodgy practices, bogus claims for travel expenses and overtime pay, co-workers covering for each other, etc.

Local authorities delaying title deeds process

The title deeds process is being delayed by the local authorities who need to decide what type of certificate to grant to properties depending on their condition; a final certificate of approval, a certificate with remarks, or one with a prohibition.

Swiss Franc loans: 80 per cent non-performing

Although Swiss Franc loans declined €274 million in the first half of the year, 80 per cent of the remaining €1,778 million are non-performing according to the head of the Cyprus Central Bank’s Supervision Division.

Some relief for trapped buyers

Although the ‘hidden mortgages’ bill is a positive step in the right direction, more needs to be done to resolve the issue of trapped buyers to enable those who have paid for their property to obtain its Title Deed.

Unlicensed swimming pool health hazard

Unlicensed swimming pools in Paphos are a major health hazard – they lie half empty, some with stagnant water and this is attracting mosquitoes because no-one’s available to look after them.

Fifth insolvency bill facing problems

The fifth and final bill of the “insolvency framework” has caused a new rift between the Cyprus government and Troika technocrats, particularly with regard to the proposed treatment of guarantors to bad loans.

Three hundred thousand lost sheep

The Auditor General’s report for 2013 states that more than three hundred thousand owners of property in Cyprus cannot be taxed on their property as the Land Registry has no way of knowing who they are.

Immovable Property Tax highs & lows

A month before the deadline for paying Immovable Property Tax expired, the Cyprus government collected in excess of 100 million Euros. However a number of long-standing problems have been highlighted.

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