North Cyprus Property Victims | More of the Same


North Cyprus Property Victims – More of the Same

The Government have allegedly announced a reduction in the transfer fee from 3% to 1% and it seems foreigners can now buy 3 properties. I understand this concession is until July 2014.

Does this make sense. Well it would if the Permission to Purchase process followed suit and allowed foreigners to put their property into their name at the point of purchase, so that the transfer and completion of the purchase took place on handing over the purchase money. To do anything else would still leave foreign purchasers vulnerable. We all know of examples of  memorandums being put on properties that have the purchasers’ Contracts registered at the land registry. What has to change is the practice of Banks and even the courts being allowed to place mortgages and memorandums on Kocans that may still be in the previous owner’s name but are no longer their asset.

So as I see it, the change only tinkers round the edges of the current situation and does absolutely nothing to address the HUGE problem of sorting out those who have been fighting for justice for years because of this problem. You cannot just ‘write off’ all the past victims by trying to ensure there are no future victims. Most purchasers will see that if you could not be trusted in the past, you cannot be trusted in the future.

Never give in never give up.

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