Registration of Contracts.....why bother?

Pogle


Joined: 28/08/2008
Posts: 1536

Message Posted:
03/03/2010 20:28

Most of us waiting for ptp dashed off to get our contracts registered. Many thought that this would protect them from mortgages/charges being taken out on their properties/land. This appears to be the case if it is your constructor attempting to get a mortgage.However, be aware that any creditor of the constructor ( i.e bank) can take out a memorandum/court order against your property, under certain circumstances. More worryingly, your fellow owners and neighbours can take out a memorandum/court order on your property against any incumberances on their own properties/sites by the same constructor.Multiple charges can be placed against your property. In the case of a bank charge/memorandum, it cannot be removed until the outstanding debt has been paid. You cannot receive your deeds while there is a charge on your property and you risk losing your property to pay off the debt the charge relates to.

Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
03/03/2010 21:19

Mel

Its a joke, TRNC law is a joke, and trying to get Santa-Fe to reply to e-mails or t/calls is a joke. Got to get on a plane and front them in person, its a joke................ But hey chin up justice (joke) will prvail in the end.

Pogle


Joined: 28/08/2008
Posts: 1536

Message Posted:
03/03/2010 21:47

Hey Steve, lets look on the bright side, the floods washed that pigeon crap of the terraces!

Blackpoolfan


Joined: 03/12/2008
Posts: 1568

Message Posted:
03/03/2010 22:39

Ha Ha nice one just had it jet washed as well!!!!!