Rental Option Proposed

coolrob


Joined: 24/06/2008
Posts: 28

Message Posted:
09/11/2008 21:38

Cyprus Today reports that if a settlement is agreed those living on Greek land will be allowed to stay if they pay rent to the original owners. Now having waited 2 years for my Title Deeds technicaly I don't own the villa or land on which it stands so why would I pay rent, If eventualy I do get the Title Deeds why on earth would I pay rent on land that I have title to? It would be interesting to hear others views. Robert

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
09/11/2008 23:20

Cannot really see a rental scenario working at all.

Does the land become leasehold? If so and you accept then you can no longer possibly be the freeholder.

Get the KOCAN or at least make sure that your contract of sale provides for the issuence of one from the seller/developer.



Who knows what will happen when settlement is agreed. Rest assured the EU will provide a level of security to all parties and will inject funds to facilitate any movement towards a reunification of the island.

PtePike



Joined: 20/05/2008
Posts: 2334

Message Posted:
09/11/2008 23:35

Rob,



In the event of settlement the kocan will be worthless as it was issued by an illegal authority. The only legal issuer of title deeds is the RoC which is internationally recognised, as the new Cyprus will be. The TRNC has never been recognised and will cease to exist after a deal is reached. So you would be paying rent to the person who legally owns the property you occupy, regardless of what the TRNC told you. The only safe titles are those issued before the 1974 Turkish invasion.