Miltiades wrote:
This is from the official site of the UK Foreign office >
""""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 judgements from the courts of the Republic of Cyprus elsewhere in the EU, including the UK. """"
Just to repeat what I posted earlier. NO INTERNATIONAL FINANCIAL BODY WOULD CONTEMPLATE LENDING MONEY WITH COLLATERAL AS THE DEEDS OF PROPERTY ISSUED BY THE "TRNC" Such deeds are recognised only by the issuing" authorities" as well as the occupiers , Turkey. There no other arguments here the case is closed.
The thing is and I guess we have to expect it from him he left out the most important part, I have copied the
ACTUAL piece of information from the UK web-site, the bit you should note is that the UK government actual advise:
Before purchasing property anywhere in Cyprus, now why do you think he would leave that bit out????
Can I purchase property in Cyprus?
Before purchasing property anywhere in Cyprus you are strongly advised to seek qualified legal advice from a source that is independent from the seller.
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 judgements from the courts of the Republic of Cyprus elsewhere in the EU, including the UK.
Separately, potential purchasers should also ensure that they are fully aware of the specific rules imposed by the administration on foreigners purchasing property in the north including the requirement to obtain consent to the transfer of property.