Changes approved to ease title-deeds trap

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Changes approved to ease title-deeds trap
 © CyprusMail 2019
MPs have unanimously approved amendments seeking to improve a 2015 law that aimed to resolve the issue of thousands of homeowners left stranded without a title deed after having paid for the property.

In 2015, parliament passed a law aimed at helping thousands of owners who had paid for their properties in full but had not been issued with their title deeds because the developers had their own mortgages on the properties.

Since developers’ land and buildings are counted as assets that need to be offset against their debt to banks, this gave banks...


This article was automatically added to our system 13-7-2019

Changes approved to ease title-deeds trap


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Article Tags: changes, approved, title, deeds,