Cyprus’ Interior Minister Constantinos Ioannou presented solutions to help “stranded buyers” facing issues with obtaining title deeds for their properties. Around 9,500 cases are pending, with 5,417 lacking title deeds due to legal complications.
The government’s proposals aim to address these issues, with efforts directed towards assisting buyers with encumbered properties. Of the pending cases, 2,500 are eligible for title deeds as they have no encumbrances post-sale, while the rest are subject to consent from those with claims on the properties.
Ioannou assured deputies that the proposed solutions are legally sound, with ongoing efforts to resolve the matter effectively. He emphasized the involvement of banks in discussions, highlighting their agreement to halt property sales to stranded buyers until January 2025.
In a recent development, Cyprus’ Interior Minister outlined measures to assist “stranded buyers” facing challenges in obtaining title deeds for their properties. With nearly 9,500 cases pending, the government’s proposals focus on resolving issues related to legal complications and encumbrances.
Of the pending cases, 5,417 lack title deeds, while approximately 2,500 are eligible for deeds as they have no post-sale encumbrances. The remaining cases are subject to approval from claimants holding interests in the properties.
Minister Ioannou emphasized the legality of the proposed solutions and assured continual efforts to address the matter effectively. He also highlighted the collaboration with banks, who have agreed to suspend property sales to stranded buyers until January 2025.
These initiatives mark a significant step towards providing relief to affected buyers and streamlining the process of acquiring title deeds in Cyprus.
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