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Cyprus Eastern Forum Index » Ask Nigel A Question » Trapped buyers get a Christmas present promise
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Trapped buyers get a Christmas present promise 
Post: #1   PostPosted: Fri Nov 09, 2018 9:17 am Reply with quote
Felixstowe
Joined: 25 Aug 2011
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The problems faced by the 70,000 ‘trapped buyers’ who were duped into buying property built on land earlier mortgaged by developers should be resolved by Christmas says Christiana Erotokritou MP.

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Post: #2   PostPosted: Fri Nov 09, 2018 1:28 pm Reply with quote
CyprusForMe
Joined: 09 May 2007
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Location: Having escaped the near-death experience of Sofia Bulgaria, happily living in Frenaros

 
It will remain the status quo. I applied for my title deeds 3 years ago under the trapped buyers law and so far nothing, nada, zilch, zero, zippo.

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.....The future, according to some scientists, will be exactly like the past, only far more expensive......
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Post: #3   PostPosted: Sat Nov 10, 2018 11:22 am Reply with quote
nhowarth
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Location: Erimi, Limassol

 
CyprusForMe wrote:
I applied for my title deeds 3 years ago under the trapped buyers law and so far nothing, nada, zilch, zero, zippo.


Has the Planning Department completed its inspection and issued a Certificate of Completion?

(The Land Registry cannot start the process of issuing Title Deeds until the Planning Department has completed their work.)

I suggest you check with the Planing Dept.

Regards,

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Post: #4   PostPosted: Sat Nov 10, 2018 3:01 pm Reply with quote
CyprusForMe
Joined: 09 May 2007
Posts: 1704
Pictures: 0
Location: Having escaped the near-death experience of Sofia Bulgaria, happily living in Frenaros

 
nhowarth wrote:
CyprusForMe wrote:
I applied for my title deeds 3 years ago under the trapped buyers law and so far nothing, nada, zilch, zero, zippo.


Has the Planning Department completed its inspection and issued a Certificate of Completion?

(The Land Registry cannot start the process of issuing Title Deeds until the Planning Department has completed their work.)

I suggest you check with the Planing Dept.

Regards,


I believe so. The last I heard from the land registry was that the developer had a loan on the property, apparently taken out after I sighed the contract to purchase as my lawyer verified that there was no loan at the time of contract signing. The person at the land registry told me that they could go no further until this loan was cleared and that I could be responsible for this loan. I was incredulous at this comment as I thought that the whole purpose of the Trapped Buyers Law was to resolve these kinds of issues.

Clearly I am unclear as to all the steps in the process of issuing title deeds. Are these outlined somewhere? I|' eager to rattle some cages, I just don't know where to go to do so.

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.....The future, according to some scientists, will be exactly like the past, only far more expensive......
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Post: #5   PostPosted: Sat Nov 10, 2018 5:46 pm Reply with quote
nhowarth
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CyprusForMe wrote:
The last I heard from the land registry was that the developer had a loan on the property, apparently taken out after I signed the contract to purchase as my lawyer verified that there was no loan at the time of contract signing. The person at the land registry told me that they could go no further until this loan was cleared and that I could be responsible for this loan. I was incredulous at this comment as I thought that the whole purpose of the Trapped Buyers Law was to resolve these kinds of issues.


You need to get the Land Registry to carry out a Title Search - see

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The date that you signed the contract isn't important - it's that date that the contrac was deposited at the Land Registry that counts.

If the developer took out the mortgage BEFORE your contract was deposited, you are a 'trapped buyer'.

If the developer took out the mortgage AFTER your contract was deposited, there is no problem (unless you colluded with the developer to help him avoid the debt.)

As for the person at the Land Registry who told you that you could be responsible for this loan - they need a damn good kicking!!

There's an article on my website -
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That explains the antediluvian process of creating & issuing Title Deeds.

Regards,

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Post: #6   PostPosted: Sat Nov 10, 2018 11:15 pm Reply with quote
CyprusForMe
Joined: 09 May 2007
Posts: 1704
Pictures: 0
Location: Having escaped the near-death experience of Sofia Bulgaria, happily living in Frenaros

 
nhowarth wrote:
CyprusForMe wrote:
The last I heard from the land registry was that the developer had a loan on the property, apparently taken out after I signed the contract to purchase as my lawyer verified that there was no loan at the time of contract signing. The person at the land registry told me that they could go no further until this loan was cleared and that I could be responsible for this loan. I was incredulous at this comment as I thought that the whole purpose of the Trapped Buyers Law was to resolve these kinds of issues.


You need to get the Land Registry to carry out a Title Search - see

Links only visible to Registered Members
Register for Free or Login to the forum.



The date that you signed the contract isn't important - it's that date that the contrac was deposited at the Land Registry that counts.

If the developer took out the mortgage BEFORE your contract was deposited, you are a 'trapped buyer'.

If the developer took out the mortgage AFTER your contract was deposited, there is no problem (unless you colluded with the developer to help him avoid the debt.)

As for the person at the Land Registry who told you that you could be responsible for this loan - they need a damn good kicking!!

There's an article on my website -
Links only visible to Registered Members
Register for Free or Login to the forum.

That explains the antediluvian process of creating & issuing Title Deeds.

Regards,


I did have a title search done 2 years before I applied under the trapped buyers law (5 years ago) and there were no loans by the developer then, only mortgages taken out by the other home owners (I paid for my house in full). I showed this to the lady at the land registry and she said it was irrelevant as there was a current loan taken out by the developer.

I'll go back to the land registry and see what they have to say now.

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.....The future, according to some scientists, will be exactly like the past, only far more expensive......
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Re: Trapped buyers get a Christmas present promise 
Post: #7   PostPosted: Mon Dec 31, 2018 6:25 pm Reply with quote
Marc C
Joined: 08 Oct 2005
Posts: 245
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Felixstowe wrote:
The problems faced by the 70,000 ‘trapped buyers’ who were duped into buying property built on land earlier mortgaged by developers should be resolved by Christmas says Christiana Erotokritou MP.

I don't suppose I missed any news by any chance?
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Post: #8   PostPosted: Tue Jan 01, 2019 9:10 pm Reply with quote
murray
Joined: 16 Sep 2006
Posts: 193
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Location: Avgorou

 
Not heard anything since this Christmas Marc C , so she must have meant next Christmas, or the Christmas after Rolling Eyes

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Trapped buyers get a Christmas present promise 
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