Cyprus Law | Property Purchases Based on Ticky-Tacky Contracts

CONTRACTWITHOUT PREJUDICE

Cyprus Law – Property Purchases Based on Ticky-Tacky Contracts

That Contracts of Sale are not worth the paper they are written on has been something critics of the property market in both north and south Cyprus have claimed time and time again.

Having read this article in the Cyprus Mail ¹ you would believe that surely the Contracts for property that stated there were NO mortgages/encumbrances or liens on and agreeing to keep it that way, but acting with bad intent, having already taken a mortgage or intending to do so, now seems to have consequences.

This lie would surely prove that the Contract was weighted in favour of the vendor.

Clearly it will be a lengthy process to have to exhaust domestic legal remedies before going to the EU, but reading this
it seems that the unless Cyprus wakes up to the damage they are doing to themselves, this had to be the route to go

Source

¹   http://cyprus-mail.com/2014/09/23/developer-slapped-by-consumer-protection-body-over-unfair-contract/

Pauline Read

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