New property law
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MnM
- Verified Member
- Posts: 772
- Joined: Thu 20 Jun 2019 11:34 am
Re: New property law
Don't know why but I was thinking about that this morning. I feel sorry for the German couple that bought our place and would hate for them to think we stitched them up, but then we went to market April 2023 long before this all kicked off. I did wonder though, all the TC's that live or have second homes on the same land, each with shared deeds, I assume they'll have to go through all this as well, though they'll probably get fast tracked in preference to the other foreigners that either live there or have second homes.
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alphamike
- Kibkommer
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- Joined: Wed 10 Aug 2016 8:20 am
Re: New property law
Akvam think you have posted on wrong thread.
Apologies, see that you have also posted on another thread relevant to over 60's residency.
Apologies, see that you have also posted on another thread relevant to over 60's residency.
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wanderer
- Kibkommer
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- Joined: Tue 03 Apr 2012 7:49 pm
Re: New property law
MnM
TC's The Germans you sold to and the whole world cant sell on shared title until the whole site is parcelised and no one can buy shared title till its parcellised
Everyone has an albatros round their neck until the government issue individual title deeds
It is ponitless going to the builder or developer or architets to parcelise because older resale properties will never meet the ethnicity rules
TC's The Germans you sold to and the whole world cant sell on shared title until the whole site is parcelised and no one can buy shared title till its parcellised
Everyone has an albatros round their neck until the government issue individual title deeds
It is ponitless going to the builder or developer or architets to parcelise because older resale properties will never meet the ethnicity rules
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Hector
Re: New property law
I have been told to wait for the TRNC government because they will have to reconsider the unfair negative effects that the new property laws have and will have on innocent people of all nationalities who have legally bought property in NC under the laws before 21st May 24 i.e. on shared title kocans.
Until these new laws, I believe people had (in the main) complied with those laws and paid the right taxes. I have been assured by my property legal advisor that those like ourselves who can't comply with the new time limits because of the laws (i.e applying for PTP on a newly purchased villa but can't because waiting 2+ years for the buyer of one's old villa to get PTP) that the time limits, therefore, won't apply. I worry that there is nothing from the government to confirm that. Will we lose our villa because we are unable to comply?
What else might the government do in the future even if the new laws are amended? Decide that 'Foreigners' cannot own property in NC? Raise the taxes so high that buying or selling a property is no longer financially worth it?
Sadly, I no longer feel legally safe in the TRNC.
Until these new laws, I believe people had (in the main) complied with those laws and paid the right taxes. I have been assured by my property legal advisor that those like ourselves who can't comply with the new time limits because of the laws (i.e applying for PTP on a newly purchased villa but can't because waiting 2+ years for the buyer of one's old villa to get PTP) that the time limits, therefore, won't apply. I worry that there is nothing from the government to confirm that. Will we lose our villa because we are unable to comply?
What else might the government do in the future even if the new laws are amended? Decide that 'Foreigners' cannot own property in NC? Raise the taxes so high that buying or selling a property is no longer financially worth it?
Sadly, I no longer feel legally safe in the TRNC.
