Cyprus Property Forum for Buyers, Sellers & Investors

The Immovable property Act, 1993 states that the percentage of joint-ownership voting rights is based on total valuation in 1980.
Given that there was a revaluation by the Land Registry in 2018, some units revalued down, which year should be used.
When I set up the arrangements for a Management Committee in 2018 for a complex of 105, and calculated voting % on valuations I used the then latest figures I.e 2013 downloaded from the Land Registry.
Was this incorrect, and should we still be using the 1980 value as per the outdated law,!

Also I note that Table A does not state value but area as table B.

Kind regards
Paul

Hi Paul

You should use the figures as stated in the law, which is hopelessly out of date and effectively inoperable, has not changed.

It's much easier to organise voting by a show of hands. You only need to have a secret ballot if an owner or their proxy demands it.

Regards

Nigel