Cyprus Property Forum for Buyers, Sellers & Investors

Hi, I wonder if you could throw any light on the Seldemosa case. I have just seen an email which reads-

Dear Distinguished Clients, Associates, Colleagues and Friends.
I am contacting you today, to bring to your attention the recent court success our office had concerning, obtaining title deeds for one of our clients. if you would like to read the report, please click the below link:

http://www.lawcyprus.org/2015/02/17/seldemosa-report/

Would this be of any use to people like me that are in Receivership and have a developer mortgage on the land prior to purchase & registration at LR plus subsequent memos etc. Said Developer nowhere to be found (although his home address in UK is known)? There is no Final Building Certificate for the site.

A few of us would be interested in your views - or are we grasping at straws?

Thanks

Hi prometheus

There is nothing unusual about the case. As the buyers contract was deposited before the encumbrances, charges, memos and court orders prohibiting the sale of the property were registered, the buyer's contract of sale took precedence and, therefore, the court ordered the property to be transferred.

This happens all the time - a Greek friend of mine had the same problem. He represented himself in court and won.

But if the encumbrances, etc. were registered before the buyers contract of sale was deposited, the outcome would have been very different!

I don't know you situation so I can't comment. It all depends on whether your contract of sale was deposited before or after the encumbrances.

Regards,

Thanks for that Nigel,

I think all the memos etc were after depositing the Contract at the LR.

BUT we have a large developer mortgage on the land which is prior to signing the CoS and registering it at the LR so the above looks like it wont help us in that situation - seems I was grasping at straws!

Hi prometheus,

I'm afraid the case referred to in the article will not help you. (Did you see the PM I sent you?) - but the government is working on something that may help in your situation - see http://www.news.cyprus-property-buyers. ... id=0055543

Regards,

Thanks Nigel, I will check the link out. I have PM'd you as I have changed my email address and didnt get your PM.

Thanks again.