Title Deed Petition to Exert Pressure on Cyprus Government

Description:

A petition to push Gordon Brown to exert pressure on the Cyprus Government to protect property buyers in Cyprus has been launched on the Downing Street website.
 

The petition runs until 4^th June 2009 and has been signed by almost 2000 people so far.

 
Creator of the petition, Leslie Glassock, gives details on the site stating that 'Cyprus is mis-described as having a property registration and ownership system based on the British Legal System. In fact it's based on archaic Turkish law which allows the removal of property ownership rights from both Cyrus and foreign nationals."
 
"It works like this: The developer builds a property, sells it, is paid in full and releases the property without providing final title deeds. They are only issued by the local authority if the developer applies for completion and has met all of the planning requirements for the project. Until they are issued the developer can use the land as collateral for further loans! "
 
"The Cyprus Land Registry figures show there are 29,949 transfers of Title Deeds to foreigners still pending and are only being issued at the rate of 1,600 a year! Lots of UK citizens, many of whom are ex-service personnel and pensioners, are at risk of losing their home if a developer goes bust, or simply chooses not to repay loans on the building land! It is unjust!'

 
The petition reads, "We the undersigned petition the Prime Minister to exert pressure on the Government of Cyprus to protect property rights in Cyprus in compliance with Article 17 of the EU Charter of Fundamental Rights."
 

In other news, the Cyprus Property Action Group (CPAG) is going to peacefully demonstrate on 4^th June at 8pm at the Municipal Park in Peyia when Cyprus President, Dimitris Christofias, visits the area to officially open the new Municipal Park.

 
Around 200 people are expected to take part in the demonstration against the Cyprus Government failing to address the Title Deed situation here in Cyprus.