Is your property at risk?

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
06/05/2010 08:11

If you have not got the title deeds in your name it could be, for two reasons.



One reason is loans that have been taken out using your property as collateral. If the borrower has failed to repay the loan the lender has probably taken legal action against the borrower. If the lender wins the case, by law your property could be sold to recoup the debt.



It has also come to our attention that some construction companies did not pay the companies that supplied goods and services some years ago. These suppliers have taken legal action to recover the debts and are receiving Judgements in their favour. As a result, Memorandums are been placed on properties that are still in the name of the construction company or landowner. Yours could be one of these.



cont..

cyprusishome


Joined: 31/03/2007
Posts: 2381

Message Posted:
06/05/2010 08:13

cont



Your lawyer should be able to check if there are any court cases registered against your construction company, the individual directors of the company and the landowner. If it's not too late, you should consider becoming a co-defendant to that case.



If you need any guidance please call into the Pia Bella hotel in Girne any Tuesday from 12 noon onwards





This is posted on HBPG site dated 5th May 2010 - http://www.hbpg-trnc.net/documents/risk.html



Worth checking out with Marian if you have any concerns.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
06/05/2010 08:43

unfortunately, cyprusishome, I understand that what the builder has done is perfectly legal and if there is a bank mortgage on the property then it would have to be sold in order to pay the mortgager. A perfect example of this is found in the much reported case of the pensioner about to be made homeless this month - http://www.northcyprusfreepress.com/2010/03/25/akfinans-banks-mortgage-scam-will-make-pensioners-homeless. How does being a "co-defendant" stop the bank taking their money? Wouldn't it be easier to give advice on these pages or the HBPG website instead of repeatedly asking the same question at the Pia Bella?

In the south the Leptos Property Action Group was out on the streets protesting on 2nd May - http://www.northcyprusfreepress.com/2010/05/03/leptos-estates-protest-in-south-cyprus-2nd-may-2010/

Unfortunately the protest HBPG was going to organise on 8th April didn't happen. After almost 5 years I'm amazed that HBPG cannot raise enough support to do what LPAG did.

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
06/05/2010 08:56

malsancak/Msg 3:



probably the reason that TRNC expats aren't game to protest is because they're too scared about the possible consequences; i.e., arrest and/or deportation, or when it comes to temporary residency time, refusal to renew. Who can blame them?



This isn't the same in the South, as they're EU citizens and can't be deported 'on a whim' anymore.



HBPG may be a 'toothless dog' as far as petitioning the government is concerned, - not their fault, at all, but they have certainly helped a countless number of people beset with a myriad of problems, for which they should be thoroughly congratulated, admired and respected.

cooper


Joined: 23/10/2007
Posts: 3386

Message Posted:
06/05/2010 09:05

Very true Tenakoutou.