North Cyprus Property | Pauline Read’s Permission to Purchase Remedy

WITHOUT PREJUDICE

North Cyprus Property | Pauline Read’s Permission to Purchase Remedy

I have invented a new title for the Permission to Purchase (PTP). It is called the Pauline Read’s Permission to Purchase Remedy (PRPTPR).  It’s simplicity itself which is probably the reason the Ministry of the Interior will not adopt it. They allegedly prefer complication because it keeps us in the dark. Once you decide to buy a property in the TRNC, instead of applying for PTP the old way, I suggest it is done the new way PRPTPR.

It is so simple, instead of having to wait the long, long, long time the old PTP method took. Put the property into the purchaser’s name immediately. Whilst at the Tapu, instead of registering your Contract of Sale, simply put the title into the new purchaser’s name with the proviso that if the PRPTPR application has a false statement on it and the applicant does not qualify when all the checks are made, hard cheese, they lose, and so they should for lying.

This will work extremely well in re-sales. Ah I hear you say, what about buying off plan? No problem. The builder/landowner assess the value of the land, and this amount is paid up front. No problem putting the land in the new purchaser’s name, since in effect they have paid for it. Now, if along the way the purchaser does not make a stage payment, then the builder can stop building and take court action to put a charge on the land which now belongs to the person who owes him the money, but only in the amount outstanding with reasonable interest. If the builder is the culprit, then the purchaser can kick him off the project and get the work finished with a new builder.

It makes perfect sense. The minute you pay, the landowner has no further interest (he has had his money) so why should it remain in his name, thus denying him the opportunity to blackmail the purchaser. If this had been the system back in November 2005, Yuksel Yilmaz would not have been able to mortgage the properties and land belonging to the Kulaksiz 5 and the Bank and the purchasers would have been saved a lot of heartache and grief. If the Landowner comes to some arrangement with the builder to accept payment in the form of properties, then that is between the landowner and the builder and should not involve the purchaser.

This arrangement could and would work well. The landowner has his money up front and should therefore relinquish any right to the land/property. The weapon landowners have been using against purchasers for so long will be gone, vanished, immobilised.

If the purchaser has lied about their status and the PRPTP is refused. It still does not involve the landowner, he has had his money. The builder is protected in the way I outlined. The situation is entirely between the Ministry of the Interior and the purchaser and whatever happens is also between them. I doubt this situation will occur very often as most people are like me, extremely normal with no skeletons in their cupboards. It would be extremely foolish to lie, but if one does, then one has to face the consequences.

It is just a pity that the situation as it is now is mainly because the Estate Agents/Builders/Developers/Advocates and Banks who have caused problems have never had to face any consequences for their action or in some cases lack of action.

One last point, since the Ministry now appear to have executed a U turn on pre-74 Turkish Titles and one wonders why they needed to, since there is no legislation prohibiting foreign purchase of such title, we are still left with the thorny issue of ‘too close to Military/Army installations.’ The answer is simple. Until it changes, forbid Estate Agents and private sellers to sell property in this position to foreigners and make it the joint responsibility of the Vendor, Agent and the Advocate to protect the foreign purchasers with punitive fines for those who ignore their responsibility.

Are things about to change?

Never give in never give up

Pauline Ann Read

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