by Lordo » Sat Jun 20, 2015 2:05 pm
here is more of what you left out.
4. Current value31 – value of a property at time of dispossession, plus an
adjustment to reflect appreciation based among other things on increase
in average sale prices of properties in Cyprus in comparable locations32
in the intervening period up to the date of entry into force of the
Foundation Agreement. The current value of property shall be assessed
as at the date of entry into force of the Foundation Agreement. This
value shall bear interest, at the same rate as interest on medium-term
government bonds, from the date of entry into force of the Foundation
Agreement until compensation bonds and property appreciation
certificates are issued.
5. Dispossessed owner - a natural or legal person who, at the time of
dispossession, held a legal interest in the affected property as owner or
part owner, his/her legal heir, personal representative or successor in
title, including by gift.
6. Institutions – entities other than natural persons, including privately or
publicly-owned or controlled bodies, such as public or private trusts,
religious institutions; military forces and companies (other than sole
corporations).33
7. Market rent – the amount of rent which could be charged for a property
on the open market, based on an assessment of market rents paid for
comparable properties in comparable locations at the time of
assessment.34
8. Market value - the amount for which a property could be sold on the
open market, based on an assessment of purchase prices or amounts
paid for comparable properties in comparable locations at the time of
assessment.
9. Original state - the state or condition of affected property at the time of
dispossession of the dispossessed owner, not including improvements
subsequently made by any party, assessed at current value.
10. Property - immovable property, being land and fixtures attached to land
(or an ownership interest or undivided share in such a property).
11. Property eligible for reinstatement – Any affected property for which title
has not been given to:
a. a current user in exchange for his/her affected property in the other
constituent state (in accordance with Article 12 of the main
provisions);
b. a subsequent purchaser from such (in accordance with Article 13 of
the main provisions); or
c. the owner of a significant improvement in exchange for payment of
the current value of the property without the improvement (in
accordance with Article 14);
and which is not owned by institutions nor used for military or public
benefit purposes (Articles 9, 10 and 11 of the main provisions
respectively).
12. Reinstatement – restitution through the award of legal and physical
possession to the dispossessed owner, so as to enable him/her to
exercise effective control over such property, including use for his/her
own purposes.
13. Reinstatement entitlement – The reinstatement entitlement is one third of
the land area and one third of the current value of the land (whichever
first applies) of the aggregated affected property of a dispossessed
owner, who is not an institution.
14. Religious site – a mosque, church, chapel, cemetery, monastery, shrine,
tomb or other place of worship. In exceptional cases, where living
quarters, contiguous gardens or other land and buildings owned by the
Church or Evkaf form an inseparable unit with the religious site, such
property up to a maximum of 2 donum36 shall be considered part of the
religious site.
15. Significant improvement – an improvement (including any new
construction on vacant land) to an affected property, which was made
between the time of dispossession and 31 December 2002,37 or based
on a building certificate (proof of engineering approval for construction)
issued prior to 31 December 2002, or any later improvement which has
been deemed admissible for this purpose pursuant to regulations of the
