Cyprus government is attempting to solve the title deeds problem by expediting a bill, regulating this serious legal issue that causes dizziness to many people over the last years.
The title deeds problem created when the banks put an objection to the issuance of title deeds due to the fact that the property has been mortgaged by a developer or due to non-payment of taxes.
As a result, people who bought property and fully paid for it, they are not entitled to obtain a title deed yet, hence they cannot be considered as the legitimate owners of their own property.
This legal issue was examined by district courts in various cases, but unfortunately due to the fact that courts followed different principles and concluded to different decisions each time, no precedent was created.
The Interior Ministry – understanding the urgent need to give a solution – is expediting a bill, in an attempt to resolve the problem of ‘‘trapped buyers’’ and bring justice.