Cyprus Government to Resolve Title Deed Situation in Cyprus

Description:

The Cyprus Interior Minister, Neoclis Sylikiotis, has pledged that new measures will be put in place to clear the backlog of title deeds for property owners in Cyprus.
 

It is hoped that around 130,000 title deed applications will be issued as soon as possible after changes to town planning legislation allowing different types of title deeds to be issued.
 

There will be a 3 tier system in the issue of title deeds. Restrictions may be placed on those property owners who have committed major infringements to the town planning law.
 

There will also be penalties and a 'name and shame' policy for developers who delay title deed applications.
 

Once the new scheme has been approved, 20,000 pending title deeds should be issued by June 2010.
 

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