Cyprus Property Forum for Buyers, Sellers & Investors

We have been told (not holding my breath) that deeds for our complex will be available towards the end of the year.There are a number of people in our block who have not paid their maintenance.Is it correct that the maintenance company can prevent the issue of deeds to these individuals until they pay what they owe?

Cheers,
Quizmaster

quizmaster wrote:Is it correct that the maintenance company can prevent the issue of deeds to these individuals until they pay what they owe?

No, it isn't true.

But what the maintenance company can do, once the deeds have been issued and the property has been registered in the names of their purchasers, is to apply to a court to place a 'memo' against the property. This will effectively prevent the transfer/sale of the property until the debt has been repaid.

Regards,

Thanks for that Nigel!

Cheers,
Quizmaster.

And what if the management/maintenance charges are double the market rate? This is our situation and the consequence for us and fellow residents is that there is effectively no market for our property, even with title deeds.

Pauline,i thought it was us who are paying the highest in the universe for communal fees....1,150 euros per year for a tiny little two bed apartment,and to add salt into the wound we don't even live in it