Search found 5 matches

by SelinaCooper
27 Feb 2020 17:59
Forum: Louise Zambartas' Legal Questions
Topic: Are heirs of an estate responsible for its debts?
Replies: 8
Views: 3347

Re: Are heirs of an estate responsible for its debts?

My dad lived in Cyprus for many years, so he bought the land and then built the house over a long period. I don't think he borrowed to do this, and no developer was involved as he oversaw the build. Sometime after the house was finished he then took out a loan/mortgage secured on the house, which th...
by SelinaCooper
27 Feb 2020 12:56
Forum: Louise Zambartas' Legal Questions
Topic: Are heirs of an estate responsible for its debts?
Replies: 8
Views: 3347

Re: Are heirs of an estate responsible for its debts?

Just re-read Pan's reply: "there must have been a guarantor for the mortgage". Is this a legal requirement in Cyprus? No one has mentioned this to us, but many people in Cyprus assume that we know the Cypriot system because my dad lived there. I think the close-knit families out there can't quite be...
by SelinaCooper
27 Feb 2020 12:46
Forum: Louise Zambartas' Legal Questions
Topic: Are heirs of an estate responsible for its debts?
Replies: 8
Views: 3347

Re: Are heirs of an estate responsible for its debts?

Thanks both of you for your replies. Firstly, there was no developer involved. As my dad was in Cyprus for many years, he (to the best of my knowledge) bought his own land and built his own house. As far as I know the mortgage was obtained on the property at a later stage. It was news to us after hi...
by SelinaCooper
26 Feb 2020 16:57
Forum: Louise Zambartas' Legal Questions
Topic: Are heirs of an estate responsible for its debts?
Replies: 8
Views: 3347

Are heirs of an estate responsible for its debts?

Hi, My father passed away in Cyprus some years ago, leaving my mother and 4 adult children. He was domiciled in Cyprus, the rest of us are resident in the UK. He died suddenly, with his financial affairs in a mess: no will, owing taxes, and with an outstanding mortgage to Alpha Bank on his property....