Lawyers don't have a duty of care to their customers!!

stevemac


Joined: 21/07/2008
Posts: 40


Message Posted:
04/11/2008 14:14

I am amazed and disgusted by the interview in this weeks Cyprus star with the head of the Nicosia Bar Association who states that lawyers here don't have any duty of care to their customers (i.e. buyers of property) in the TRNC. Apparantly, we're all supposed to know the law before we buy property here and are supposed to ask our lawyers exactly what we work we want them to carry out for us i.e. searches, title deed queries, building permit queries, proxmity to army bases etc. What a joke!!! That's the reason we go to a so-called lawyer in the first place, because we don't know the law and are paying them vast amounts of cash to protect our interests!!!

WHO WOULD BUY A PROPERTY NOW IN THE TRNC KNOWING THIS!!

Let's face it, most of us are in the desparate situations we're in now because the lawyers gave us bad advice or in some cases downright lied to us or covered up information. And the government are condoning this.

stevemac


Joined: 21/07/2008
Posts: 40


Message Posted:
04/11/2008 14:18

Interestingly, I don't think the head of the bar association has followed up any complaints received about lawyers here in the TRNC. I wonder why not.



In another article by Martin in Cyprus Star he seems to condone the practise of taking out mortgages by landowners when the land is already subject to a contract of sale. The lawyers here frequently tell people this is normal practise here and it's just a formality. WRONG! They compare it to builders taking out mortgages in the UK to complete sites however this is ridiculous. In the UK mortgages are repaid and people receive their title deeds simultaneoulsy with payment for their property. People are going to be evicted from their homes here because this practise has been allowed to continue by the banks and the lawyers and the developers. THIS IS WRONG and IT IS FRAUD!

Pipie


Joined: 05/01/2008
Posts: 1262


Message Posted:
04/11/2008 14:26

Really is a negative for anyone who intends to put there faith in advocates , another nail in the coffin for property sales . Will they ever learn this govenment .

PtePike



Joined: 20/05/2008
Posts: 2345


Message Posted:
04/11/2008 14:34

But it only involves foreigners so nobody really cares about them. Locals wouldn't use a lawyer to buy a property so outsiders who do are seen as ripe for being exploited to the hilt. And still they come...

Pipie


Joined: 05/01/2008
Posts: 1262


Message Posted:
04/11/2008 14:38

but not in droves as before . It is getting concerning that the foreigners are being hit so hard . Are we wanted in the TRNC anymore , sadly i think not .

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 14:43

Steve, I have now complained twice to BARO. The first complaint was faxed, and lost by them, then miraculously found again, (after numerous telephone calls to their offices), then we were requested to provide documentary evidence to support our complaint, which we did by fax and by hand. When my husband called at BARO's offices in January, he met Mr Inan (turkish translation - I believe!!!!! Good name eh?) who was drinking coffee and playing card games on the computer. Inan admitted that he had no power over lawyers in TRNC so what could he do? Therefore it is absolutely useless making a complaint to them in the first place. By the way, I am still waiting a response, any response to my complaint after 10 months. They wouldn't get away with it in the UK.

cocos


Joined: 04/04/2008
Posts: 100


Message Posted:
04/11/2008 15:44

It is outragous but from the horses mouth they are admitting what the HBPG have been saying all along. In the article good old Mr guilty himself Akan Gurkan says people arent in danger of losing their homes from eviction. Yeah, right! Why are they being put up for auction then! I admit there are some good lawyers here but few and far between. Many of them are directly responsible for peoples misery now by lying, being party to blackmail, extortion, threats and giving false information to unsuspecting buyers who trusted them to act on their behalf and who paid them large amounts of fees to do so. How do they sleep at night?

CJtill


Joined: 02/05/2008
Posts: 172


Message Posted:
04/11/2008 16:00

Cocos

Are you saying that there are cases in TRNC where the banks have foreclosed on a mortgage and put the property up for sale. If this is so could you advise where this has happened as a LOT of would be owners are getting very worried.

Michael

karakum5c


Joined: 18/03/2008
Posts: 263


Message Posted:
04/11/2008 16:06

A Lawyer is some one who knows he is breaking the law, while a criminal is someone who denies he has broken the law.

The butler


Joined: 22/06/2007
Posts: 379


Message Posted:
04/11/2008 16:20

Hi stevemac,



Let me tell you that Martin from Cyprus star is a director of Medview Homes and of course he condones taking mortgages out on property that has been bought and paid for. This is what Medview have done to my home and fifty other owners homes in the TRNC. Nothing to do with bad lawyers as this mortgage was only taken out 2 years after we bought but before the need for registration.



The Butler





The Butler

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 18:29

Problem is that there is no regulating/disciplinary body (like the UK Law Society) for lawyers in NC. Neither is there any indemnity insurance to protect lawyers clients. The courts are also useless. No lawyer will take action (on behalf of a client) against another lawyer. The lies that are told about NC law being based on UK law. Well it might have been in 1960 but these days they make it up as they go along. Lawyers in NC have no interest in representing their clients, only themselves in the fees they charge. Problem is they either don't know the law or even if they do, realise that there is nothing they can do practically or legally to solve the problem for their client.

windmill


Joined: 06/07/2008
Posts: 143


Message Posted:
04/11/2008 18:58

It would be very interesting to know how many people on this forum would name and shame there advocate ( lawyer ) on this forum

WAZ-24-7



Joined: 18/10/2008
Posts: 252


Message Posted:
04/11/2008 19:24

With carefull managment it is possible to get even TRNC lawyers to perform at least within the frail legal system within the TRNC.



DO not pay legal fees up front. Payment by installments according to work done.



Be very particular with questioning and DO NOT hope that the lawyer will do it all for you.

Questions:

View and get copy of the original KOCAN and site plan.

Is the developer the land owner.

Is there any mortgage on the land/property.

Check out VAT and other taxes and clarify who pays and when.

Not advisable to pay your lawyer for the property or stage payments ONLY pay for work carried out and if possible inspect, check and sign off payments when you are satisfied with work done.

Use common sense and make well thought out judgment as to where when and how.

It can be a mine field out there but caution combined with prudent decisions can get you what you want.

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 19:31

In other words, do it yourself and save yourself a fortune in lawyers fees.

wynyardman



Joined: 15/12/2007
Posts: 2645


Message Posted:
04/11/2008 19:37

Receipt of a fee as an advocate establishes a contract in law, and therefore a duty of care.



Accectance of the fee establishes the right to a duty of care. WHAT DID YOU PAY THEM FOR?



These people leave me breathless!



wyn

mickey rourke


Joined: 27/08/2008
Posts: 153


Message Posted:
04/11/2008 19:42

Waz

There are NO lawyers in TRNC only Advocates

Hector

the UK has built up it's laws over the past 90/100 years the TRNC had been isolated for 35 years approx.

Stevemac

As in UK solicitors/advocates/lawyers will only do as instructed, trouble is we Brits for the most part left our brains behind in the UK when we saw the chance to make a few bucks buying properties cheap here and now we are suffering, ask yourself would you - in the UK have accepted a developers lawyer to represent your interests, and yet many have done so here, case rested

wynyardman



Joined: 15/12/2007
Posts: 2645


Message Posted:
04/11/2008 20:00

Sorry Mickey,



I usually like your postings. I said ADVOCATES. They establish a duty of care by accepting a fee! Unfortunatley you may have to take them to court to establish the fact.



I would be pleased to hear our learned friend Ismets take, on this one.



wyn

flowerfairy


Joined: 17/09/2008
Posts: 91


Message Posted:
04/11/2008 20:05

We used a company called Sener Law firm, fellowship house in Girne.

Ayhan Sener has dealt with our purchase, also our permissions.

I have to date no complaints, when the hoo haa came up about stamp

duties, which I knew nothing about, i contacted her panicking, she had already

got our contract stamped as a matter of course.

I'm sorry to read so many sad stories about advocates.

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 20:21

Whyn,

I intended to keep quiet on this one but I couldnot miss the bait



1. Before 1974 we had only Certifying Officers and not Noters. Turkish nationals began settling hee from 1974 onwards and Certifying Officers began to call themselves "Noters" to fill in the gap. Lots of mistakes made there because so called noters have no clue about the law but they were asked to draw up contracts and so they did.



2. After the Annan plan you Brits began to come in droves and suddenly advocates began calling themselves "Solicitors" or you Brits insisted on calling them solicitors and of course you expected them to perform the same duties as those in UK. Whose fault?



3. Locals normally used go to an Tapu agent for conveyancing and pay a few bob for the services and get the title deeds straight away. With the advent of off plan houses, they would get a share kocan and safeguard themselves to some extend. Most locals consult lawyers after they have signed the contract put forward by the d

Groucho



Joined: 26/04/2008
Posts: 2369


Message Posted:
04/11/2008 20:24

So these lawyers are just people with a law degree and no formal legal training?

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 20:29

the developers, they come and ask if it is ok? In most cases too late but this is a fact.



4. Most Brits made the mistake of going to the "solicitor" recommended by the developer or estate agent, so whose interest are they supposed to look after? Even if they did their job properly and asked for security, most probably the deal would be off and the advocate would not be able to get any fees. so everything is loaded against the buyer. I know one particular buyer who was going to buy from Bellapais and contacted my wife just to go through the agreed contract before signing and was prepared to pay a fee for independent advice. The vendor was not willing to give any security and the deal was off. This was the right way to go about it. My wife was free to protect her client to the full because she got paid in advance for her services.



5. The new law for the registration of contracts came in too late. The foreign buyers were not allowed to have the land mortgaged in their favour but ...

PtePike



Joined: 20/05/2008
Posts: 2345


Message Posted:
04/11/2008 20:32

Groucho,



I thought you were supposed to be reading all my posts! I doubt some of them have even got an LLB given the lawlessness of the state itself. It's like the Wild West. I could guide people through the buying process (strictly pre-74) for a damn sight less than £1200, or whatever these Mickey Mouse con artists masquerading as lawyers are charging the mugs now,

wynyardman



Joined: 15/12/2007
Posts: 2645


Message Posted:
04/11/2008 20:36

Elko,



As usual we are indebted for your wise counsel. If an advocate takes a fee (not inconsiderable) to perform certain duties, does he not ,in so doing, accept a duty of care, to his client? What would the client have to do , to establish a duty of care?



wyn

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 20:38

this practice is very rare. It boils down to going to an independent lawyer. Most Brits preferred the one recommended by the developer so that everything went through smoothly but they could not see the conflict of interest and what it entailed. Whose fault?



6. Advocates have a duty of care but you have to specify wht you want from them or what they agreed to do. Assuming that they are solicitors and expecting the same duties was wrong. If you ask a lawyer to draw up a contract of sale, he/she will do just that unless you go to them independently and ask the relevant question about security.



7. there are many complaints made to the Bar about advocates and they are passed on to the disciplinary committee but they are really serious cases like collecting money on behalf of clients and pocketing it. Duty of care is very difficult to prove and more suitable for the courts rather than the disciplinary committee.



Groucho,

These lawyers have a degree in law plus a years training ..

Groucho



Joined: 26/04/2008
Posts: 2369


Message Posted:
04/11/2008 20:38

I already knew the answer Pike... I was playing DA...



I have stated before that it is an outrage that anybody without formal legal training should be allowed to be members of the BAR Association.



If this statment by the head of the BAR Association is truly his intended meaning then I think it worse than even I thought... they at least seemed to pay lip-service to a legal system but his admission undermines even that...



çok çok ayıp

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 20:40

Elko2

Somewhat bemused and put out by your references to 'you Brits'. How were said ' Brits' supposed to know that NC fraudsters (I can only read that they were from your explanation) had started calling themselves 'solicitors' and were not lawyers in the UK sense? What did the NC government do about this clear fraud? What did you/your wife do, knowing what was going on?

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 20:41

Groucho, I have been saying this for years. A Law Degree and nothing else! There is no such thing as a "Solicitor" in TRNC. At the risk of repeating myself again. When you instruct a Solicitor in the UK, they advise you on the options/remedies available to you to deal with your matter. They have a duty of care to act in your best interests, and to declare a conflict of interest. There are no rules and regulations in TRNC to protect the client. There is no indemnity insurance. In January my husband downloaded the UK Solicitors Professional Conduct Rules on a disc and gave it Hassan Sungar who had specifically requested it to pass onto the appropriate person and use as a framework for lawyers in TRNC. Still no framework. Still no office dealing with the many complaints about a handful of negligent and corrupt (mainly Girne based) TRNC lawyers. Has the Government done anything to stop the rot and help the purchaser? No. Is it going to? No.

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 20:44

with an advocate of at least 5 yhears standing plus pass the Bar exam.



Whyn,

The trouble is not proving what the advocate did not do but what he had agreed to do!!! The fee charged is not a good measure. Specially in assizes some charge 10-20,000 YTL for a few minutes work!!! I am afraid it is free for all. The fees are more regulated in civil cases but the lawyer and client may agree for a special fee. My advise to you is to sign the normal official fee when signing the "retainer".

ismet

PtePike



Joined: 20/05/2008
Posts: 2345


Message Posted:
04/11/2008 20:45

Hector,



He likes the Brits sucking up to him but at the end of the day you'll only hear what he thinks you want to hear, given the large amount of vested interests. At the end of the day, foreigners are foreigners, they have no rights worth speaking of and are a steady source of Sterling in the TRNC.

No1Doyen


Joined: 04/07/2008
Posts: 2739


Message Posted:
04/11/2008 20:47

Q: What is the difference between a lawyer and a gigolo?

A: A gigolo only screws one person at a time.

PtePike



Joined: 20/05/2008
Posts: 2345


Message Posted:
04/11/2008 20:48

Presumably there is a public register of TRNC advocates showing their training, universities and qualifications. The kind of Law Society thing that can be checked online by ordinary punters to pervent crooks and con artists ripping off foreigners.

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 20:51

Ismet....

"These lawyers have a degree in law plus a years training" - Where? in TRNC?

They certainly do not have a years training in the UK. They could not complete their 2 year training contract post qualification in just one year.



From what I know and have seen, a huge fee is paid by unsuspecting clients, for a so called lawyer to print off a contract which is already on the PC anyway and is used time and time again. With hindsight, anyone with a modicum of common sense could draft a contract. It is not the contract the client was paying for. It is the expertise of the lawyer drafting the contract to guide their client through the pitfalls of purchasing. That is what the lawyer is being paid for. It is not up to the client to know what questions to ask. It is up to the lawyer to advise the client appropriately every step of the way. Otherwise why bother with a lawyer?

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 20:51

I've heard some 'Alice in Wonderland' things in my time but this takes the biscuit. It's the 'Brits' fault for not asking their advocates/lawyers/solicitors the right questions?

No1Doyen


Joined: 04/07/2008
Posts: 2739


Message Posted:
04/11/2008 20:53

It's the 'Brits' fault for not asking their advocates/lawyers/solicitors the right questions? ..............................



Hector, thats a great one liner!

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 20:54

It adds insult to injury for lawyers now to hide behind the facade that the client should have asked the "RIGHT" questions.



Oh but of course all ex-pats know the TRNC law inside out dont we? Or if we don't we should! And all have so much expertise and knowledge of the TRNC Law that of course we KNOW all the right questions to ask don't we? If not, why not? If it wasn't so serious it would be laughable.

PtePike



Joined: 20/05/2008
Posts: 2345


Message Posted:
04/11/2008 20:55

Welcome to the TRNC...

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 20:56

Pikey.....Presumably there is a public register of TRNC advocates showing their training, universities and qualifications. The kind of Law Society thing that can be checked online by ordinary punters to pervent crooks and con artists ripping off foreigners.



Not to my knowledge.

Regards.

Hope you are well BTW?

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 20:58

No1Doyan..... Please please please please please remember this......

There are NO SOLICITORS IN THE TRNC. NOT 1 SINGLE 1. NO SOLICITORS NO SOLICITORS NO SOLICITORS. NO SOLICITORS IN TRNC.

No1Doyen


Joined: 04/07/2008
Posts: 2739


Message Posted:
04/11/2008 21:02

Kay, I didn't say there were! But thanks anyway.

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 21:05

Kay,

It is only a handfull of lawyers who got involved in conveyancing and almost all of them worked closely with the developers or estate agents. Asking for security would mean the end of the deal in most cases, so they kept quiet. I am not saying they did the right honourable thing but it suited them to fill their pockets. If all of them acted in the same manner, then you have to look at it from a pschological point of view and try to understand how it happened. Registration of contracts was a good measure, rescinding the Specific Performance law will be a good step forward. I am very hopeful abdout it. I am waitinbg to see the President on this one.

ismet

No1Doyen


Joined: 04/07/2008
Posts: 2739


Message Posted:
04/11/2008 21:10

....then you have to look at it from a pschological point of view and try to understand how it happened.....



Ismet, are you saying they were not in the right frame of mind?

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 21:16

Ismet...Kay, I agree, not all, but slightly more than a handful. As I said previously mostly Girne based. They know who they are. The HBPG know who they are. Same old names keep cropping up time and time again.

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 21:17

Talk about digging yourself a hole...

'..you have to look at it from a psychological point of view and try to understand how it happened.'

Let me think about that. Oh yes. It's called greed + deception = fraud. That plus the acquiessensce of the NC people & government in knowing what was going on.

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 21:20

Doyen,

They knew exactly what they were doing. Shall we say it was the gold rush days that happened in the wild west?



I am afraid the worst is to come. The Land Registry Office is not keen to process the repossession of mortgaged land, so there are thousands of applications by the banks for sale. The office is very inefficient and in this particular case the government is quite happy to let this side of the office remain inefficient. There are many people who borrowed money from the banks and now their houses are at risk. Of course the same thing will happen where developers borrowed money from the banks and mortgaged the land already sold. Its a a ticking bomb and a nightmare.

ismet

wynyardman



Joined: 15/12/2007
Posts: 2645


Message Posted:
04/11/2008 21:20

A very interesting post. Thanks to all for your contributions.





CAVEAT EMPTOR!



wyn

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 21:20

oh, and as it's only a handful of lawyers (presumably known to the authorities as it appears everyone else knows, well apart from 'you Brits') we can expect the government to act and strike them off of whatever legal position / standing they don't apparently have?

Groucho



Joined: 26/04/2008
Posts: 2369


Message Posted:
04/11/2008 21:25

Ismet,



If they sold the land and then sold it again in the form of raising a mortgage did they not defraud the Bank rather than the original purchaser? I should have thought that the bank having not done "due diligence" was at fault too.



i.e. before they grant a mortagage on a property they should make it their business to check that the land has not already been sold...

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 21:31

Groucho,

You tell me how? The bank sees the original title deeds and also checks with the Land Registry Office to see if there is any court order or a mortgage on it. That is all they had to do.



The banks are aware that all compulsory sales are on hold and therefore now they prefer to lend money to buyers of cars or other consumer goods and thus no credit for businessess against a mortgage. Another reason for the downturn for the economy.

ismet

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 21:33

If the corrupt syndicate of lawyers are taken to task, I can forsee their explanation for the whole saga



It's wasn't us, it's not our fault. The blames lies with the ex-pats who came here and purchased property, didn't ask the right questions, and put greed and temptation in our way. What could we do, we we forced to line our pockets?"



Before you know it, the expats will be charged with enticing and procuring the lawyers to commit acts of dishonest appropriation of monies to which they were not entitled to and the lawyers will be awarded damages! Well, this is "Pirate Island"

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 21:38

Kay,

"Before you know it, the expats will be charged with enticing and procuring the lawyers to commit acts of dishonest appropriation of monies to which they were not entitled to and the lawyers will be awarded damages! Well, this is "Pirate Island"



That's a good one.



Look, once I had a campaign against Certifying Officers passing themselves as "Noters" and I had prominent article in Kibris paper once. The chief Justice at the time phoned me and said that something must be done abdout it. Then I spoke with the Attorney General and he agreed with me. So what happened? A big nothing. Would you like me to dig up that article and Turkish and give it to Ken as his next homework?

ismet

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 21:43

Ah ha! I should have guessed! It wasn't the 'Cyps' fault after all. Silly me! (Elko, trust it's ok to refer to 'Cyps' as per 'Brits'). It was us 'Brits' who after all said and done, caused the problem by calling totally unqualified 'Cyps', solicitors (who naturally didn't think they should be the ones to put the record straight.)

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 21:46

Ismet, if The Land Registry Office is not keen to process the repossession of mortgaged land, and there are thousands of applications by the banks for sale, and the department who processes the repossessions are inefficient, how can any of us be sure that there was a pending application by the bank for repossession prior to lodging and paying for registration? For all I know, there may be a pending mortgage lurking in the inefficient department waiting to be registered to my land. So what happens in that instance? The bank could argue that they lodged their application before mine, and it would have been registered but for the inefficiencies and don't forget, the bank have "deep pockets". Given what you have said, does registration afford any protection at all? You say it is a time-bomb ticking. Is this another "con" by the Government to extract revenue from expats for registration, that's not really worth the fee, or the paper it's printed on?

but due to

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 21:51

Kay,

I am sorry but you are totally wrong on this one. If you get a mortgage on any land, it is registered there and then and from that moment on it will come up in all searches. The inefficiency is on the side of compulsorry sales. Once you have your contract registered with a clean bill, that is the end of the matter. There cannot be a hidden mortgage unless there is a clear fraud to hide it and not shown on your registration papers.

ismet

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 21:53

Ismet, I am not wrong, just asking questions, not stating facts. Can you elaborate on your time-bomb ticking statement please?

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 21:56

Ismet

I take it you mean that the time bomb is for those properties (contracts) that have not been registered as per the new rules (Jan 08). Those properties that were already mortgaged and not registered or have been registered but subject to the knowledge that there is a mortgage outstanding?

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 21:59

Hector. Thanks. That makes sense to me.

Ah, you see I struggle with land law/conveyancing!

Well no-ones perfect, not even me!!!

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 22:01

Kay,

The time bomb reference is the compulsory sale of land when banks ask for their money. Eventually these sales will have to materialize otherwise the banks will stop lending money against mortgages. That means no lending to businesses and it is almost the situation today.



Once these sales begin it will affect the locals as well as foreign buyers who paid for the house but its mortgaged to a bank by the developer. The Amarantha Valley saga will be nothing compared to what may happen.

ismet

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 22:03

How will the banks sell these houses? Auction as in UK? Where will the buyers come from? What happens if the sale price fails to meet the outstanding mortgage?

w26kay



Joined: 14/10/2007
Posts: 455


Message Posted:
04/11/2008 22:06

Thanks. I understand it now.

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
04/11/2008 22:10

Hector,

There are rules for such sales and it is conducted by people authorised by the Land Office. If it does not meet the reserve price, the sale is postponed for six months and the reserve price is reduced by a certain percentage, I think 30%. the process is repeated every six months until it is sold.



I think the banks may buy it to prevent the sale falling off too much but they have to resell it within a certain time, otherwise the banks could end up owning all land. Its all regulted by law.

ismet

Hector


Joined: 26/08/2008
Posts: 374


Message Posted:
04/11/2008 22:10

'It's all regulated by law'

At least something is.

mickey rourke


Joined: 27/08/2008
Posts: 153


Message Posted:
05/11/2008 05:45

Hello wyn old son I was referring to Waz who used the word lawyer, not you me hearty, sorry if you thought it was aimed at you but i did put Waz at the top

wynyardman



Joined: 15/12/2007
Posts: 2645


Message Posted:
05/11/2008 07:09

Noted Mickey, my oversight!



wyn

stevemac


Joined: 21/07/2008
Posts: 40


Message Posted:
05/11/2008 08:33

Ismet is right about the ticking time bomb. The banks are already making noises about auctioning land on which people have paid in full for their properties and are living in them. So everyone who has a property on a piece of mortgaged land needs to be worried about it. Afterall the banks will want their money and how will they get it back if the developer won't repay it to them? They'll seize his assets attached to the mortgage for sale. This doesn't just affect a few people, many people found out the land their properties stood on was mortgaged when they went to register their contracts during the amnesty. Some of the well known lawyers whose names come up again and again are still not informing their clients that property they want to buy are mortgaged to death even though they are well aware of it!



Speak to the HBPG they will tell you all the grim details of what's going on.

No1Doyen


Joined: 04/07/2008
Posts: 2739


Message Posted:
05/11/2008 09:25

What about the people who have paid in full and have their 'kocans'. Can they still sell the land from under them?

Littlenige



Joined: 24/12/2006
Posts: 2595


Message Posted:
05/11/2008 09:31

yes of course they can unless they pay off the loan !! even then there is NOT A LAW TO MAKE THE LANDOWNER give the kocan to the buyer,,,,,



So pay off the loan the landowner / builder owes the bank great bank off your back ok mr landowner / builder can I now have my kocan ??



Hmmmm no



Nothing at all you can do.

girne 29


Joined: 06/12/2007
Posts: 299


Message Posted:
05/11/2008 09:43

Ismet

"There are rules for such sales and it is conducted by people authorised by the Land Office. If it does not meet the reserve price, the sale is postponed for six months and the reserve price is reduced by a certain percentage, I think 30%. the process is repeated every six months until it is sold"



Funny that there are rules / laws that must be strictly adhered to whenever we are screwed by moving goalposts and have to dip into their pockets .For example the fiasco when rushing thro registration of contract and stamp duty payments and penalties

.By golly when govt needs more money from us they can certainly move as regards the law.

We need similar action, its basically our own fault for not studying TRNC property law ,or lack of it .

Maybe its our own fault . In the past have we sent the wrong signal, condoning any abuse of the property system, by laughingly saying its just the cute "cyprus way". Not so funny now!



Must think ROC will bail the system out

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
05/11/2008 10:51

Doyen,

You asked: "What about the people who have paid in full and have their 'kocans'. Can they still sell the land from under them?"



If you do have the kocan in *your* name you are home well and dry, nobody can take it from you and nobody can put a mortgage on it without your permission.

ismet

elko2



Joined: 24/07/2007
Posts: 591


Message Posted:
05/11/2008 10:52

Girne et al,

Don't shoot the messenger!!!

ismet

Groucho



Joined: 26/04/2008
Posts: 2369


Message Posted:
05/11/2008 10:59

Elko



Simple the way lots of other things ar discovered the world over... the land registry put a notice in the newpapers declaring the request and intention to raise a mortgage on a plot of land....



The owners of the contract could then let their objections be known to the bank who are the targets of the fraud.... it is fra