Limitation Period Of Home Loan

[HarryJonnes007]

I had a property that was never actually completed on, but had a housing loan to fund this from a well known bank in Cyprus.

I never paid anything back and never contacted the bank since April 2011.

Please can someone let me know what the limitation period is, and how this actually works?

[Nigel Howarth]

Hi HarryJonnes007 and welcome to the forum

I think you'll need to take legal advice on this, but you can find an approximate translation of the Statute of Limitations Law by clicking here.

"5.-(1) For any mortgage or pledge, the limitation period is twelve years from the day of completion of the basis of the claim.

"(2) Any process for the disposal of a real estate mortgage or lien under any law, is considered a lawsuit."

Regards,

[HarryJonnes007]

Hi Neil,

Many thanks for your reply on this.

I have had a look at the link for this, and this makes no sense to me. Why do they have to make this so complex!

Do you have an up to date list of legal people who might be able to help. If there are any that can provide a consultation up front, that would also be good.

Many thanks

[Nigel Howarth]

I suggest you check out the list of lawyers at Find a lawyer in Cyprus.

Regards,