Cyprus Property Forum for Buyers, Sellers & Investors

One of our residents has been told by a major insurance company that as from 1 Jan 2010, ALL individual apartments in an apartment block(s) have to be insured for fire, earthquake, etc with a single insurer. Apparently, this is the practice in UK at the moment and EU legislation demands that it com...

Hi Tracy

I've been looking into this a bit further. The pool is part of the common area - and in Cyprus there is no requirement for the management committee that manages the common areas to have public liability insurance.

Regards,

Hi Celadon, I'm afraid I have no information about this developer. The Department of the Registrar of Companies and Official Receiver would be the people who know, but they are not very communicative. They have a website at http://www.mcit.gov.cy/mcit/drcor/drcor.nsf/index_en/index_en?OpenDocument I...

Hi Tracy,

Download a copy of the Jointly Owned Buildings Law from my website at http://www.cyprus-property-buyers.com/f ... gs-law.pdf

Regards,

Hi gillbail, You will need to get an eviction order from the court to get rid of your (former) friend. I do not know how this would work out - as there is no contract between you and the tenant and he could well argue that you allowed him to use the property rent free. It would then be a matter of y...

Dear PropertyOwner - welcome to the forum, The 'Immovable Property Tax' scam is now well known and many of the developers are no more cautious in their charging. The Cyprus Property Action Group took legal opinion on this matter and produced a guide for buyers on what they should do regarding Immova...

Hi Tracy,

Your developer will need to get a licence from the Municipality/Town to operate the pool. As far as I'm aware, there is no requirement to toilets, showers, changing rooms, etc.

Regards,

Hi Tracy, This how the law currently stands: This is how the law currently stands: Cyprus Law N.55(I)/92 states in paragraph 2 that the term ‘public swimming pool’ also includes the swimming pools of buildings which are used by the owners of the units or their tenants. Regulation Number 368/96 state...

Dear Tracy,

If the work hasn't been done and the developer is unwilling or unable to demonstrate that the work has been done, stand your ground.

Regards,

Hi Molly,

You can find a blow by blow account of the planning process and the timescales involved on my website at: http://www.cyprus-property-buyers.com/law/planning.htm

Regards,

Hi Andrew,

As soon as you sign the contract. Once you've done that, there is no escape - you are committed.

Regards,

You're welcome Lizzie

Yes, you can give Power of Attorney to a lawyer to undertake the transfer on your behalf. Just make sure the PoA only enables the lawyer to transfer title to you.

Regards,

Hi Lizzie, The system works like this. When you buy a property, you deposit your Contract of Sale at the Land Registry for what is known as Specific Performance. This deposit of the contract creates what is known as an ‘encumbrance’ against the property which prevents the vendor changing his mind ab...

Hi Chris and welcome to the forum. As far as I'm aware, the law has yet to be changed. 'Shared' pools in development complexes are still considered to be public pools. This is how the law currently stands: Cyprus Law N.55(I)/92 states in paragraph 2 that the term ‘public swimming pool’ also includes...

Hi Cheryl and welcome to the forum. The authorities impose penalties and add interest if people fail to pay their Immovable Property Tax. So if you did fail to pay your fair share, the developer could choose to transfer those penalty and interest charges onto you. The information provided at http://...