Cyprus-Forum.com

[michalis5354]

People are determined to take the risk! They may compare the situation with other international dispputes like Kashmir , Northh Ireland statues and they think all these disputes are similar in nature! The governemt can not prevent people to place their money where they wish! All they can do is to give a warning and advise!

Property issues are closely linked to the political situation. There are a number of potential practical, financial and legal implications, particularly for those considering buying property in the north. These relate to the non-recognition of the "Turkish Republic of Northern Cyprus", the suspension of EU law in northern Cyprus, the possible consequences for property of a future settlement, and the many thousands of claims to ownership from people displaced in 1974. There is also a risk that purchasers would face legal proceedings in the courts of the Republic of Cyprus, as well as attempts to enforce judgments from the courts of the Republic of Cyprus elsewhere in the EU, including the UK

In the stock exchange there are also many crooks but what can the government do? Nothing! Its up to the investor to collect information to avoid placing his/her money in such stocks and loose money in the long term.

[Jerry]

What kind of friend are you to them Jerry if you hope they get stitched up?

What kind of "friends" are they if against my advice and knowing that my family have been deprived their property in the north they still go ahead and buy in the north. To me its like buying goods stolen from a shop that they know I have a financial interest in.

[chedda]

You did the right thing warning them at least when it goes bad you can sleep at night knowing your concience is clear. I too don't have friends who are thieves. In the end i disown them knowing the rules of life, bad karma tracks you down in one form or another ! Perhaps hoping they are stitched up is a little harsh ?

[andri_cy]

No kifeas it is not sufficient and as you said in a previous post it is misleading.
So people must do their own research (spelt it right this time) What other way can they come to a decision over whether to buy or not.
Only by getting information from all sources can they make that decision.
I feel i'm going round in circles over this I agree entirely with what you say but the fact is uninformd people (not just brits) are buying property at very cheap prices in the north and they will eventually lose out when the rightful owners come looking and I certainly wont have any sympathy for them

I have to say I do not know how buying land in Eu or whatever goes like because everything I have there is family owned for lots of years, but when we bought our house here, we paid an independant title researcher to give us what we call title insurance which says the title of the house is clean and if anyone appeared in the future with claims to the house, that company would compensate them. I am sure something similar can be done there. We didnt know the first thing about buying but we figured it out. How is it that people want to go spend thousands on something and they dont want to spend a couple of hundred making sure it is clean it beats me.

[RichardB]

I have to say I do not know how buying land in Eu or whatever goes like because everything I have there is family owned for lots of years, but when we bought our house here, we paid an independant title researcher to give us what we call title insurance which says the title of the house is clean and if anyone appeared in the future with claims to the house, that company would compensate them. I am sure something similar can be done there. We didnt know the first thing about buying but we figured it out. How is it that people want to go spend thousands on something and they dont want to spend a couple of hundred making sure it is clean it beats me.

We have a similar system in UK andri
A solicitor will do what we call a 'search' to as you say make sure the house is clean. On completion of the purchase the title deeds are issued to the purchaser (or if the property is on a mortgage to the bank or other lender)
This costs around £1000
There is obviously a bit more to it than that but basically the sale will not be allowed to go through unless everything comes up 'clean'

[andri_cy]

so there are ways. People just elect to not go through that process. Therefore they deserve what they get.