Mps tackle cyprus deed debacle
The issue of protecting
the rights of property buyers in Cyprus is being discussed by some of the most
powerful names in UK politics...
Over the last few months, a stream of disgruntled homeowners have
been forced to plead to British MPs for urgent assistance, reveals the Cyprus Mail.
Most pleas came from residents who have been fighting to acquire title deeds to their homes.
In two letters seen by the Cyprus Mail, British Foreign Secretary David Miliband and Chancellor Alistair Darling have been in communication concerning the ongoing saga within the past ten days.
New law?
Darling, representing two of his constituents that are fighting for the deeds
for a property they bought on the island, received a lengthy response from
Miliband last week which stated:
"I understand the concern about the practice
in Cyprus of title deeds not being supplied on completion of a property
purchase.
"The practice of property developers not supplying title deeds to purchasers
has the potential to affect a large number of British citizens as well as other
foreign nationals living in Cyprus."
In the
letter Miliband also states that the British High Commissioner to Cyprus had "received
assurances" from the Cypriot Interior Ministry that they
would introduce a bill to address the situation soon.
Hands on approach
Since Miliband's arrival at the Foreign and Commonwealth Office two years ago, he has been seen to take a much more ‘hands on approach' in comparison to his predecessors on matters large and small, and the Cyprus property issue is understood to be of ‘great interest' to him.
A spokesman for the British authorities in Nicosia confirmed that a meeting between the High Commissioner and a high ranking official at the Cyprus Interior Ministry had taken place just before Christmas.
"The meeting was productive, we have been assured that a bill on the matter would be submitted to parliament," the spokesman told the Cyprus Mail, "We have not heard anything since then," he added.
The spokesman declined to comment further on the matter, or say if a timeframe for the bill had been given, only adding that they are "watching developments closely."
Buyer confidence low
Title deeds, which are officially referred to as Certificates of Registration of Immovable Property, are the most important evidence of property ownership; but with so few people receiving the documents after paying hundreds of thousands of pounds for houses and apartments, confidence from potential buyers is increasingly falling.
A well informed source at the Ministry of the Interior said he was unaware of any new legislation being drafted to tackle the title deed dilemma.
In his lengthy letter to Alistair Darling, the British Foreign Secretary also stated that he "will continue to take a close interest in developments and look forward to seeing the measures by which the Cypriot government will attempt to resolve this matter."
Source: www.cyprus-mail.com