Cyprus today Marion Stokes

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
06/11/2010 19:28

"This is what I have always feared" " We might as well pack up and leave"



Her comment on> "Expats may have to fork out up to one third of compensation payouts to Gs's" OUCH!!!!

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
06/11/2010 19:32

" We might as well pack up and leave"



I think that has been happening for quite a while.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
06/11/2010 19:47

I agree Hector What an Unholy Mess!! Apparently those who bought soon after the Annan Plan are to be hardest hit,by that I mean during the FRENZIED building boom.Quite frankly I blame the Government,Lawyers,builders but above all the Crooked Estate Agents,,They are the ones who "Peddled" the Lies to the unwitting, trusting customers..

graycoul


Joined: 23/04/2009
Posts: 493

Message Posted:
06/11/2010 19:50

they dont want us here....



1, you cant work for the goverment or any public sector job

2, you couldnt of worked for cta

3, you wouldnt get a taxi licence

4, you cant even buy turkish land

5, pretty sure english cant play for the footy teams?



would all that happen in the uk?? is it racist?? im not sure??

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
06/11/2010 19:52

I blame the advocates more than the estate agents. People can accept a certain amount of b...sh.t from an estate agent who is acting for the seller but buyers rely on what they thought would be the honest and professional lawyer who they are paying to protect their interests. How badly wrong they were.

Quarmby


Joined: 15/09/2008
Posts: 975

Message Posted:
06/11/2010 19:53

Martin

could you explain why people who bought after the Annan plan will be harder hit than those who bought before?

bigOz


Joined: 29/09/2010
Posts: 1244

Message Posted:
06/11/2010 19:55

If it weren't for the naive fools, there would be no millionaires in this world (at least not in Cyprus anyway!)

Tootie


Joined: 28/08/2008
Posts: 2037

Message Posted:
06/11/2010 19:57

Ankara have made no statement about this, It has come about from a reporter of the Cyprus Mail.. http://www.cyprus-mail.com/cyprus/turkish-cypriots-may-be-called-upon-pay-compensation-claims/20101103



"ANKARA MAY call on Turkish Cypriots living in Greek Cypriot properties in the north to pay up to a third of the financial costs of Greek Cypriot property compensation claims, high-level Turkish Cypriot sources indicated yesterday."

High-level Turkish Cypriot sources.. Yer right. lol

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
06/11/2010 20:07

msg 6 Quarmby,please read the said article

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
06/11/2010 20:13

Hector, some people would say we should blame ourselves.

Isabella


Joined: 02/10/2008
Posts: 199

Message Posted:
06/11/2010 20:26

Is not Cyprus Mail pro Greek?

ilovecyprus


Joined: 08/05/2007
Posts: 2880

Message Posted:
06/11/2010 20:27

Turkey were never going to be able to afford the large claims that they are being asked to pay, but the bigger problem for the Turkish government, is the potential political backlash from people living on the mainland. The people must be thinking, that these large payouts are preventing mainland Turkey from investing in vital infrastructure development and enabling the country to raise its living standards.



Is it me or do some of these payouts to GC's seem excessively large, I mean we are talking about Cyprus not Central London. Perhaps the per donum payout is actually quite small. Could someone advise?

ilovecyprus


Joined: 08/05/2007
Posts: 2880

Message Posted:
06/11/2010 20:28

msge 11



We could all be jumping the gun

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
06/11/2010 20:39

msg10..Whilst I agree the onus is on the buyer,honesty and integrity from Lawyers and Estate Agents would go a long way in putting things right here... Estate agents should be fully trained and "Accountable",not just here in the TRNC but everywhere.....In the UK "NO" qualifications are required to become an Estate Agent....They are after all salesmen/women chasing commission ................. that's all!

Tootie


Joined: 28/08/2008
Posts: 2037

Message Posted:
06/11/2010 20:44

Msg 12, I agree. The sums paid out so far seem way out?

As for expats paying up, How will they do this?

Most people dont have title deeds in there own name. Let alone a street name or address.

Its typical Cyprus tabloid rubbish again.

AnthonySmith


Joined: 14/05/2009
Posts: 455

Message Posted:
06/11/2010 20:50

Tootie - message 8 - first articles came out in Kibris and Hurriyet, not Cyprus Mail.

Tootie - message 15 - they talked about occupiers, not owners.

Let's hope the BRS can get clarification - and quick.

Tootie


Joined: 28/08/2008
Posts: 2037

Message Posted:
06/11/2010 21:07

Fair enough msg 16 , But tell me what will clarification from the BRS do?

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
06/11/2010 21:11

msg15 tootie."Most people don't have title deeds in there own name .Let alone a street name or address"...



But they paid for the house/Villa ..I'm sorry but that fact alone is enough to spell trouble Don't you think?

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
06/11/2010 21:12

Tootie,





"Most people don't have title deeds in there own name. Let alone a street name or address".



No title deeds, no ownership. Does this not make the whole exercise so much easier?

Tootie


Joined: 28/08/2008
Posts: 2037

Message Posted:
06/11/2010 21:34

Im saying how will Ankara call up Expats for the share of compo when the TRNC dont have a clue who owns what?

No deeds, No ownership, No PTP, No nothing. So how can you make a claim against somebody if you cant prove who it belongs to???

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
06/11/2010 21:43

I think you are all panicking, consider the following___



A) The compensation is paid per donum if no building exsisted pre 74.

For flats this means £3,000/£4,000 maximum or even less

For houses depending on the land location and quality this means £15,000/£20,000 again or less



B) Once compensation is paid you are issued internationally recognised title deeds, then your property

is worth considerably more allowing you peace of mind or the ability to sell and make a healthy profit.



Remember property prices are double in the South than they are in the North due to secure title deeds



Everyone likes to moan how they would like to return to the UK or are loosing money on their property investments= Well guys its DOUBLE your money time £££££££££££££££££££££££££££££££

Tootie


Joined: 28/08/2008
Posts: 2037

Message Posted:
06/11/2010 21:49

Im not panicking. Its only the Cyprus Today Doom & Gloom readers who are.

Its Rubbish.



Ps. Dont rush out to get your title deeds just yet though, Give it another 6 months.

karakum5c



Joined: 18/03/2008
Posts: 1021

Message Posted:
06/11/2010 21:51

All the original title deeds for the island are held by the land registrary in the south.



Anyone buying property in the north can go south and register their property if they have secure title on said property and are probably advised to do so. (pre74 foreign/ T cypriot owned )



We the British created land boundaries and the machinery of government which operate it, the system is good both sides and finding original owners not a problem.

Enchanted


Joined: 20/07/2008
Posts: 159

Message Posted:
06/11/2010 21:57

Who will recognise these International title deeds?....... when the TRNC doesn't exist in the eyes of the rest of the world!

Forget it. It will not happen in our lifetime thats for sure, so keep enjoying the sunshine and don't loose any sleep over it

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
06/11/2010 23:39

Tootie,



Why are you recommending that people do not rush to get their title deeds?

LordJim


Joined: 12/10/2010
Posts: 221

Message Posted:
07/11/2010 07:58

" Let's hope the BRS can get clarification - and quick. "



do not hold you breath then.

HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
07/11/2010 08:11

I agree with Hector. I was recently in court with my landowner (the builder Cafer Yucelgai cannot be found to serve notice on him - yet he has a company which is building in Nicosia). Whilst in the court the judge stated that there should be 3 people in the court, the other being my Advocate Mustafa Sener. My advocate Sener Law Firm caused the problem in the first place by not ensuring that the landowners signature was on my contract and not only the builders contract - but Sener's assured us that it was fine and within the law.

HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
07/11/2010 08:44

I have paid £100,000 and do not have a property. I am told I do not own the bricks and mortor which were used to build my house and I do not own the land.

So, where does that put me (and others)

BrightonJim


Joined: 27/07/2010
Posts: 145

Message Posted:
07/11/2010 08:56

I agree with Karakum 5c (Post 21).

We have just bought a resale property and have budgeted to pay compensation in due course.

We didn't receive legal advice to do this for it is obvious to us that the Turkish taxpayer can not be expected to finance what would be a windfall gain in the value of our property.

I am not so sure about the level of compensation Karakum quotes. At £15k per dwelling, the land value of a typical 25 villa development would be £375k. A bit high but of course it depends on location and size of plot.

What would be fair is for the Turkish Government to offer loans, at reasonable interest rates to owners who who could not fund the compensation payment, with the facility to roll over the interest for those who could not afford to meet the interest payment.

Sure there would be a mortgage on your house to be repaid when sold but it would be a win because the value of the property would have least have doubled.

It's potentially very good news so don't panic.

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
07/11/2010 09:00

as I understand it, there was a brainstorming session and this was one of the suggestions put forward, probably from the banks so that they could provide mortgages at "Akfinans Rates." Could also be that certain local businesses want nervous ex-pats to sell at rock bottom prices so that they can then later pay the GC compensation share and have a property with an internationally recognised title deed that they "bought cheap" as the Finance Minister likes to say. Remember - this is the Middle East.

WotNoDeeds!


Joined: 26/08/2009
Posts: 687

Message Posted:
07/11/2010 09:02

People have bought land and property here, paid all their taxes on it in full and been issued their

Kocan by the TURKISH Republic of Northern Cyprus. If they are asked to pay again for what they have already paid for in full, then what is to stop them taking TURKEY to the European Court of Human Rights?

malsancak


Joined: 23/08/2009
Posts: 2874

Message Posted:
07/11/2010 09:48

I think you'll find that Turkey did not issue any title deeds for your property and that under international law they might even be entitled to your property if they pay the full compensation. I personally would feel a little more comfortable paying an extra £3000, or less, for the field I paid for, in exchange for South Cyprus registered title deeds. Trouble is that the South Cyprus government might then expect us all to re-register any construction projects... sorry, I have to stop joining in all this ridiculous theorising, the sun has just come out

twaddle


Joined: 06/07/2008
Posts: 245

Message Posted:
07/11/2010 10:04

Remember, any such law revolves around the solution of the Cyprus problem resulting in the re-unification of the island.

It would need to apply equally to ALL property owners, not just ex-pats.

I cannot see that our TC and Turkish neighbours, in the majority, would be able to afford to pay such large amounts of money and thus would be unlikely to support any referendum.

IF they did agree, it could not just relate to ex-pats as it would be an infringement of their Human Rights. Cyprus and for that matter Turkey are signatories to the European Human Rights Act and thus would risk being persued for breaching the act in terms of introducing a law that discriminates against race or nationality.

I think that this was just one of many ideas being aired and is unlikely to happen unless the values of land was set at a much lower level.

hattikins


Joined: 17/02/2008
Posts: 2793

Message Posted:
07/11/2010 10:12

If, and it's a big If, this ever came about it would probably be in the same week as we get the direct flight, just enjoy what you've got and don't panic.

HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
07/11/2010 11:03

Yeah..... if there are direct flights and direct trade it will be just like the UK with sun - you can p*........ off back to the UK and forget all your worries.

hattikins


Joined: 17/02/2008
Posts: 2793

Message Posted:
07/11/2010 11:24

I have no worries, and have no intention of p.......g off back to the UK, my remark was made tongue in cheek so why be so rude.

martinD41


Joined: 06/09/2010
Posts: 3001

Message Posted:
07/11/2010 12:25

msg21...You are beginning to sound like an Estate Agent..

Marvo


Joined: 30/04/2007
Posts: 194

Message Posted:
08/11/2010 10:19

Maybe I've missed something on this thread but if we bought property on exchange land, the TC land owner must have assigned his land in the south to the TRNC 'government' in order to be given the previously GC owned land that we are sitting on.He then sells this to a builder/developer and we buy from him and the TC land owner pockets the profit.



If the original GC land owner is now to receive compensation, and I think this is what is concerning most of us, who pays for this.



Does the TC land owner pay, as he has the proceeds of the sale and we assume is happy with the transaction.



Surely if he has assigned his original land in the south in order to be given the land in the north then he has no legal claim on the south land. If he assigned the south land to the TRNC 'government' then the IPC has this land and can sell it on and pay compensation to the GC claimant who's land we are sitting on.



The IPC could end up with a cash surplus on the deal, 'problem solved'



Hold your