Swords crossed over Turkish Cypriot properties

Swords crossed over Turkish Cypriot properties

Interior ministry and audit service are in disagreement over proposed changes to laws regulating the management of Turkish Cypriot properties. The interior ministry believes that allowing Turkish Cypriot properties to be inherited by relatives of refugees residing in them will resolve inequality and feelings of injustice among displaced persons. The ministry also stated that inheritance refers to the license to use the property, not ownership. Auditor-General Odysseas Michaelides expressed concerns that well-off individuals may end up with Turkish Cypriot properties, while homeless refugees may be left without housing. The committee chairman noted that there are reservations about the transfer of properties to non-refugees and potential political issues related to succession.

Property sellers left in limbo by elusive buyers

Property sellers left in limbo by elusive buyers

Developers in Cyprus can face problems when buyers do not attend appointments to transfer property, leading to the developers being burdened with property taxes and other charges. Developers may have to sue buyers to obtain a court order, which can take years to resolve. Additionally, developers may face issues when existing buyers sell the property to third parties without informing the developer.