Cyprus-Forum.com

[brother]

Forced to sell because of debts’
By Staff Reporter


DISY deputy Giorgos Georgiou has accused some Greek Cypriots of selling their properties in the north to foreign companies.

Speaking to the Parliamentary Commerce Committee, Georgiou said that he had information in which Greek Cypriots where meeting representatives of foreign companies, affiliated with tourism or property development, in the north so they could sell their properties.

He added that reason that the majority of Greek Cypriots were selling their lands in the north was because of their financial difficulties.

Most of the properties being sold by Greek Cypriots are from the Karpasia region of the island and the meetings are reportedly taking part in Turkish-held Boghazi and Famagusta between Greek Cypriots and foreigners with Turkish Cypriots acting as middle-men.

But the Cyprus Stock Exchange is also to blame for Greek Cypriots selling their lands according to Georgiou.

“Most of the Greek Cypriots are forced to sell their properties in the north to pay off debts they have to banks that they had loaned out so they could invest in the Cyprus Stock Exchange.”

[brother]

Seems like gc's can sell their lands if they want.

[turkcyp]

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[Viewpoint]

turkcyp dont you recall Kifeas saying that GCs could sell their land in the north, the problem is finding a buyer that would buy at the right price. He was so certain he placed a bet that it could be done, he later made thousdands of excuses and backed out. Seeing that the land registry does not accept these sales means he owes me 100.000 cyp....

[turkcyp]

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[Viewpoint]

Kifeas altered his position many times and later on included international courts but hey never thought he would honour his bet anyway it was all a show.

[Kifeas]

turkcyp dont you recall Kifeas saying that GCs could sell their land in the north, the problem is finding a buyer that would buy at the right price. He was so certain he placed a bet that it could be done, he later made thousdands of excuses and backed out. Seeing that the land registry does not accept these sales means he owes me 100.000 cyp....

I think he claimed that he would get the courts to force land registry to accept the sales. That was his position I think. So unless RoC courts decide to apply the famous “doctrine of necessity” to a GC as well, I do not think you would win that bet.

Turkcyp,
You are right! This was my position. The doctrine of necessity cannot apply in this case and it will be very stupid on behalf of RoC to even attempt to use it. However, it is totally illogical for any GC to try and find someone to sell his property in the north, because the price that will be offered to him will be substantially lower than the real value of the property, for the well-known reasons. Only if someone is totally desperate of some money might attempt something like this.

[gabaston]

Kifeas


ok

you have a valid point of the obtainable price a gc would get from a tc and vice versa, but what about some kind of land swap. Could some kind of registary be setup for owners wishing to swap land be set-up perhaps?

[Kifeas]

Kifeas


ok

you have a valid point of the obtainable price a gc would get from a tc and vice versa, but what about some kind of land swap. Could some kind of registary be setup for owners wishing to swap land be set-up perhaps?

The swapping of land between a GC and a TC is a difficult issue, because firstly it requires that both sides must currently occupy each other’s exact land. If you occupy my land in the north and your property in the south is occupied by another GC refuge who also has land in the north but which is occupied by another person, how this think will work? Furthermore, there is a problem with the RoC, which doesn't allow the sale of TC land in the south but only reinstatement after 6-month residency in the south. The swapping of land is nothing else than an agreement to sell my land in the north to you and you sell your land in the south to me. If you cannot sell your land in the south, then how this can happen?

[turkcyp]

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