TC obtaining P2P instead

Pa-trick


Joined: 23/09/2010
Posts: 37

Message Posted:
09/11/2010 23:34

I am sure this will have been covered before, however I cant find a thread with enough information. I was hoping Ismet could shed some light on my perceived proposal.

My builder has hit on hard times and he may possibly have loaned money from a non reputable source. I am already aware that my property is 50m from military land therefore P2P in the present climate is impossible. My neighbour is TC and I trust him (definitely more than the builder), would it be inconceivable for my neighbour to apply for P2P and my property protected by a legal agreement. I realise that there would be much more to this. My question really is, could this be a starting point for putting my property in my neighbours hands rather than my builder?

yorgozlu



Joined: 16/06/2009
Posts: 4437

Message Posted:
09/11/2010 23:45

TC/CT does not need P2P.......................

Pugwash


Joined: 06/09/2010
Posts: 1797

Message Posted:
09/11/2010 23:55

Yes but you will have to "sell " it to him.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/11/2010 00:38

Is this not a sad indictment of what buying property in the TRNC has become? Why do foreigners need to find loopholes in a bias and discriminatory legal system, just for the "privilege" of being allowed to hand over their hard earned money and purchase a house and receive full freehold title deeds?



You are not alone with this problem. The present system beggars belief and does not belong in a modern democratic society. There was a suggestion from Talat and Denktas that those that have been refused PTP on Pre 74 Turkish Title Deeds, should take their case to the ECHR. With the present TRNC Government digging their heals in and refusing to take any constructive action to deal effectively with the many problems that exist, I suspect this would be the only way forward.



People are too quick to shrug off the PTP/Title Deed problem, just excusing it as the Cypriot way. However with many buyers now finding memorandums on their properties it is a real concern.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/11/2010 00:55

You really can't win! Yes you could "sell" your property to your neighbour and because he is TC the sale would go through very quickly. He would then be the legal owner. A contract could then be legally drawn up so that he agrees that he cannot reside there, sell, extend, rent and whatever other restrictions you chose to add. However this is the TRNC and we know, to our costs, that contracts do not appear to be worth the paper they are written on.



Putting it in Trust is a very expensive option but would safeguard your property.

However all this is immaterial if the developer will not hand over the deeds and he has no legal obligation to do so in the TRNC.

I suspect that if he owes money he will hold onto them, as this means you will pick up his debt and he will walk away his problem solved!



Perhaps Elko might be able to identify the pros and cons of doing the above.