Kibkom North Cyprus Forum

i put my money into so-called sinking fund when we set up the residence association back in 2010. I was told i get my money out anytime with the interest. However they are still holding my money. Is it against NC law to hold the money does not belongs to them. ?

Any comment ?

I do not know about TC law other than it does not seem to mean much but what would be the point of a Sinking Fund if people could take their money out when they wanted?
A Sinking Fund is a sum of money to be used to cover site expenses for the benefit of the whole development such as roofs on apartment blocks, roads, repairs to pools if relevant & so on.
Contributions to a mormal Sinking Fund would not be refundable but of course I know nothing about your particular circumstances you would need to take legal advice.