New law passed - all land to be considered leasehold ?

mickey rourke


Joined: 27/08/2008
Posts: 157

Message Posted:
27/08/2008 09:27

Has anybody heard about a new law to be passed to consider all land leasehold on long leases to help the peace/solution process

punk rocker


Joined: 24/07/2008
Posts: 152

Message Posted:
27/08/2008 09:32

I heard a story to this effect yesterday but dont know if we can give it any credence as yet

Perhaps UKT or Elko may know more

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
27/08/2008 10:41

Coffee shop gossip, perchance?

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
27/08/2008 11:07

Hopefully , bad news if not, would probably be 'final nail in coffin' for construction industry and for many existing foriegn buyers.

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
27/08/2008 11:32

This law could only realistically apply to those occupying Greek Cypriot property, if it's supposed to help the peace process as has been suggested. GCs have always made clear they have no claim on legally accquired pre-74 property - only their own that was seized from them and later sold on.



But come on guys, we all have to make sacrifices for the greater good.

newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
27/08/2008 11:46

This first saw the light of day in the run up to the Annan plan, it was nixed then but the way the government of the day (hopefully for not much longer) is behaving in looking for a solution even a bad one, who knows?

CJtill


Joined: 02/05/2008
Posts: 836

Message Posted:
27/08/2008 14:13

Is this retrospective, and all existing freehold property becomes leasehold by default, or is it new purchases.

If it is retrospective then sales will stop overnight and the estate agents will, by magic, turn into DVD shops overnight.

Michael

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
27/08/2008 16:34

If its true and added to everything else thats happened, if I was landing at Ercan .I would drop my trousers ,bend over and say '' get it over with and leave me alone for a bit''

RedSnapper


Joined: 12/08/2008
Posts: 540

Message Posted:
27/08/2008 16:41

What time are you landing?

ROBnJO


Joined: 30/06/2008
Posts: 1289

Message Posted:
27/08/2008 17:00

"DON'T PANIC CAPTAIN MAINWARING!!"



If it did happen, it would apply to occupied Turkish Cypriot land as well as occupied Greek Cypriot land equally.



Leasehold could well mean 99yr leases, which in the UK and other EU Countries is accepted as valuable as freehold.



Your 'freeholder' however, may well be a G or T Cypriot, but they would have legal and financial obligations towards you as their 'lessee'.



If EU law was imposed after any agreement, EU law dictates that any leaseholder has the right, after 2 yrs occupation, to request a lease extension of at least 50%+ at no cost to the leaseholder.



Property values in either N or S Cyprus would not fall due to such an arrangement.





I await the next rumour with bated breath!



rob

cocos


Joined: 04/04/2008
Posts: 129

Message Posted:
27/08/2008 17:08

God help us all! When is the next election here?

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
27/08/2008 17:08

'Property values wouldn't drop' come on wise up!

ROBnJO


Joined: 30/06/2008
Posts: 1289

Message Posted:
27/08/2008 17:25

pilgrim



None of us know what's going to happen. It's all conjecture. ;-)

pilgrim



Joined: 11/05/2007
Posts: 1404

Message Posted:
27/08/2008 17:39

Agree but just for the record '2bed flats for sale in Ryde 2years ago Freehold 124 k, 125 year leasehold 105k!,' wouldn,t mind leasehold at reduced price,but we bought freehold.

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
27/08/2008 18:15

Elco .

Could i as your'e opinion please ?

frontalman



Joined: 28/02/2008
Posts: 499

Message Posted:
27/08/2008 18:35

According to our brief, nothing is happening regarding issuing of Kocans at Tapu at the moment. We have signed our transfer paperwork, paid our taxes (including our vendors stoppage, as agreed) and are just waiting for the Kocan to be issued in our name. I suppose they cannot carry on with 'business as usual' with talks approaching, so a delay is to be expected.

mickey rourke


Joined: 27/08/2008
Posts: 157

Message Posted:
27/08/2008 18:50

is this person drunk ????

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
27/08/2008 18:50

Might it be a way around refusal for permission to purchase? Rather than get your Kocan you would be given a lease instead?

Alternatively could this be the TRNC government looking towards a settlement and saying no one has the freehold title only leasehold so the land will revert to the original (in other words greek) owner/beneficiary eventually?

frontalman



Joined: 28/02/2008
Posts: 499

Message Posted:
27/08/2008 18:54

Which person are you referring to?

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
27/08/2008 19:48

Has anyone tried asking the authorities?

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
27/08/2008 19:53

mr rouke

"a new law has been passed " I THINK THE ONLY ONE DRUNK IS YOU.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
27/08/2008 19:58

Interesting posting,



There seems to be a nasty outbreak of collective anxiety!



The fact is non of us know!!. We have entrusted our futures, investments to two men.



Commies , how can you trust them, I hear.



What I see is two men of good faith, whose intentions are in the best interest of CYPRIOTS



not GCs or TCs, CYPRIOTS.



I would respectfully ask, that we put our support behind them and wish them well, (It



certainlly is not a task, that I would willingly take on)



When we bought, borrowed or.............., we paid our money and took our chances.



We have had our say. Give these well meaning guys an opportunity to sort out this mess



that was bought about by well meaning outsiders.



Once a way forward is found, the day to day problems will fall into global reality, a factor



that those in the West have accepted over the last couple of years.



We all agree. The TRNC is a beautiful place, the people are really nice and decent.



Come on Guys and Gals.........Give peace a chance!!!



wyn

bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
27/08/2008 20:32

These rumours (I hope) have been floating around for a while now. Our solicitor first told us of this idea when we were discussing the problem of getting PTP.



Then it came up in conversation with some local TC's sat outside a bar in Ozankoy. They stated that it had been a much discussed topic in some of the local newspapers. Leases to foreign buyers rather than freehold.



Like Wyn, I am beginning to think that what will be, will be and whats the point worrying about it? Best to cross that bridge when it comes.



Ilovecyprus once said that only adrenaline junkies would buy in the TRNC. Never have truer words, been said.

bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
27/08/2008 20:43

Government Leasehold already exists:



The TRNC Government owns the freehold for this land. Long-term leases can be granted for 49 years with an option for a second 49-year term. This type of title deed is used mainly for tourism investments. Leases can be transferred directly or via a solicitor upon application to the Ministry of Interior. For example, all the houses in the picturesque village of Karmi are leased to foreigners.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
27/08/2008 20:46

Bradus,



Were I there, I would borrow from The Lady Wyns purse , and buy a bottlle of Black Tower



It is outwith our control. We had our say the day we signed our contracts (professionally advised or otherwise, we paid the professionals ? bills)



A glass of well chilled wine , a positive outlook, and a steady heart seems to be the order of the day.



Never have I been hoodwinked with such style! Good luck to you Sir,



wyn



E&OE.

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
27/08/2008 21:02

Hi,



The first reference that I can find is on Northcyprus.biz - if you search for 'leasehold' you will fid two articles from 2004 entitled



Property Law Faces Legal Challenge, and



Ministers plan for leasehold properties



I remember the idea of leaseholds being revived recently, I think that it was mentioned in Cyprus Today, however this was an 'option' - i.e. you could have the choice of Freehold or Leasehold - whichever suited you.



If no-one has anything in print to add (or anything 'from the horse's mouth'!) then we might as well retire to the coffee shop and take up smoking...



Keith.

keithcaley



Joined: 13/06/2008
Posts: 2521

Message Posted:
27/08/2008 21:06

Sorry for the 'typo' - I meant "you will find two articles" ...

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
27/08/2008 21:11

Hi All,



A slight of hand to make all property leasehold (retrospectively) would KILL off the construction industry in The TRNC. TO exclude Pre 74 Turkish Title would pour salt into the wound.



I dont think its on the agenda, but if it is.....Think twice...cut once!



wyn

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
27/08/2008 21:23

WYN



you are 100% ......................................... CORRECT







musin

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
27/08/2008 21:33

Thanks `Mus,



Do you want to buy 100% of my company for £10. My advocate in Kyrenia says you can have 110% for £100,000. His fees are £999,990.



wyn



Musin. I think you are a man of good faith. Give up the Pike fishing. The only thing that you will be unpleasant.



wyn

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
27/08/2008 21:47

thanks wyn

i am only carp fishing these days ,dont know if you noticed.



i had the money too buy your company yesterday ,however i had to pay the lecci and gas this morning



musin

RedSnapper


Joined: 12/08/2008
Posts: 540

Message Posted:
27/08/2008 21:57

Think i`d be quite happy to have a 99yr lease on my purchase if it meant me getting all the relevent deeds and approvals and getting everything legally and properly and safely registered, it`s the agreement i`ve got here in the U.K!

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
27/08/2008 22:14

Mus,



Keep the faith lad......what faith?...Don't ask awkward questions.!



Red Snapper, I would accept a 99 year lease with internationally recognised compensation



for the loss of my Freehold.! Payment cash only...no cheques!



wyn

RedSnapper


Joined: 12/08/2008
Posts: 540

Message Posted:
27/08/2008 22:21

Yep, fair comment...

Pipie


Joined: 05/01/2008
Posts: 5499

Message Posted:
27/08/2008 22:23

I was sold freehold so i would expect freehold deeds .

Lazy days


Joined: 24/07/2008
Posts: 847

Message Posted:
28/08/2008 08:12

Hello Musin

If you check i think you will find that mickey said about to be passed not that it was a law

doughnuts40


Joined: 27/07/2008
Posts: 98

Message Posted:
28/08/2008 08:18

Our friends paid all their taxes 3 weeks ago and received their title deeds two days ago so the Land Office are issuing Title Deeds. They did not get their lawyer to do it because he was charging an extra £250 so their Agent helped with all the paperwork and collected their title deed.

puppylover



Joined: 05/05/2008
Posts: 1427

Message Posted:
28/08/2008 08:31

Totally agree with Wyn...msg 22.