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court decisions

http://www.cyprus-property-buyers.com/forum/viewtopic.php?t=1624

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court decisions

Posted: 11 Jun 2017 12:19
by avanapa
Hi Nigel
Given the recent District Court decisions re the "trapped buyers law" and the constitution, does this mean that the "trapped buyers law" at this point in time is not in force and now offers no protection. Ironically, after having little interest since the trapped buyers law was passed, I now have 2 separate reasonable offers to buy my property. Both offers will be lodged Monday morning (tomorrow) through their respective lawyers to my lawyer.
Also, is it possible that the LR themselves may refuse to deal with transfers of property during this "limbo" period so to speak.

Regards
Avanapa

Re: court decisions

Posted: 11 Jun 2017 16:14
by Nigel Howarth
Hi Avanapa

The Land Registry offices are still issuing Title Deeds - but have been prevented from issuing some as a result of court orders preventing the transfer of specific properties. From what I can gather the orders relate to properties sold by development companies in liquidation.

Before the bank can seize a property it has to make a successful application to court. So buyers are protected - at least for the time being.

A property cannot be transferred until its Title Deed is available and the LR could only refuse to transfer a property if ordered to do so by a court.

Regards,

Re: court decisions

Posted: 11 Jun 2017 16:33
by avanapa
Thanks Nigel. I should have said can the LR refuse an "assignment of contract" given the new situation.

Re: court decisions

Posted: 12 Jun 2017 07:19
by Pantheman
avanapa wrote: 11 Jun 2017 12:19 Hi Nigel
Given the recent District Court decisions re the "trapped buyers law" and the constitution, does this mean that the "trapped buyers law" at this point in time is not in force and now offers no protection. Ironically, after having little interest since the trapped buyers law was passed, I now have 2 separate reasonable offers to buy my property. Both offers will be lodged Monday morning (tomorrow) through their respective lawyers to my lawyer.
Also, is it possible that the LR themselves may refuse to deal with transfers of property during this "limbo" period so to speak.

Regards
Avanapa
If you accept one of the offers, pls send the other one this way, I have a large property going next to nothing on the Dinos site, if anyone is interested.
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