How compensate GC Title Deeds for Apartment Complex?

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Crystalarts
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How compensate GC Title Deeds for Apartment Complex?

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Post by Crystalarts »

I have been thinking about this issue and I was wondering.... Many of the horror stories regarding GC suing North Cyprus Owners of properties all involve a Villa. (Pre IPC).

However, If the IPC does cease to exist (as per latest "stories") how would it work in the following scenario :

Developer is building a complet of 45 apartments on some disputed land.

Some people have moved in and have title deeds whilst others are awaiting title deeds or the apartments arent completed yet.

Who would the GC sue in this instance? I assume they would only recover the value of the land (not considering the increased value due to the fancy complex) Would the aprtment owners all share the burden? Would the GC have to take out multiple law suits against every owner on his property? Would it be one law suit against the Developer?

Does this mean that Apartments are much safer than Villas (in terms of liability of compensation)

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Keithcaley
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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by Keithcaley »

Your thread is entitled "How compensate...?" - presumably referring to the criteria (yet to be agreed and established by the two Leaders) which will be used to decide compensation, exchange or re-instatement, in the event of a settlement.

However, you then go on to ask "Who would the GC SUE...?"

Are you implying that you think that there will be no settlement, and thus no procedure in place for compensation, or that the agreed procedure will be for individuals to pursue their claims through the courts?

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by Crystalarts »

I am just throwing the question out there in both cases with or without settlement...

With settlement, Would Apartment owners be in a better position financially than those who own villas (multiple owners on a plot of land vs 1 owner)

Without setllement and a collapse of the IPC (as has been reported again recently) will they seek to sue owners, and again is it giong to be more difficult to sue multiple owners (apartment) vs Villa?

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by turtle »

It is an interesting question if I understand it correctly...
How much compo would be paid if say 1 villa is sited on a donum of land or if 12 apartments are sited on a donum ? Do they get paid by the donum or by how many owners on that donum ?
What if the villa or even the apartment have joint owners, what if the property is in trust or registered to a company, it's a minefield really.

My own personal opinion is that I don't think there will be a solution found for reunification..... as for a settlement of the problem then if no settlement is found has any ideas been put forward to what happens next ?... the status quo or NC independence ?

Lets assume for a minute that TRNC is given independence the GC's will still want compensation.... back to square one

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by Keithcaley »

turtle wrote:...Lets assume for a minute that TRNC is given independence...
What do you mean by 'given indepedence'?

By Whom?

Who has got the Authority to 'give TRNC independence'?

The UN?

The EU?

The 'International Community'?

In contravention of all those UN resolutions which are still in force, and which have kept TRNC isolated and unrecognised these many years?

Pray do tell!

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by turtle »

Keith, I did say " lets assume ".

In answer to your " bullet " point maybe the International Community may at some point get fed up with these ongoing talks going nowhere and decide they want an end to this... Who knows... Do you ?

Post has been edited as the questions asked are better either pm'd or emailed direct to Keith caley. Thanks

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by Keithcaley »

Turtle, the only part of your post in which I had any interest was the mention of 'Independence' which you have clarified.

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by Crystalarts »

I dont think there is a need to dismiss the suggestion of Independence even though its unlikely....If North votes Yes and GC vote no again then the world will be getting quite tired of the ongoing dispute... with EU making concessions for Turkey and Turkey pushing the idea that North Cyprus should be considered independent and with nearly every EU member state showing concern after the last uncessful unification (most EU leaders suggested more money had to be pumped into North to support the poor TC who are cut off from the world) there could possibly be independence.... Its not impossible so I would agree its a "potential" scenario.

Back to the point however, I still wonder if people buying apartments have to worry less about GC Deeds vs Pre74 Turkish deeds compared to the buyer of a Villa who would be soley responsible (and potentially an easier target in a lawsuit).

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by lavender »

I think there is more of a worry if there is no settlement. The running down of the IPC means a return to ECHR and the possibility of more Oram's type claims.

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Re: How compensate GC Title Deeds for Apartment Complex?

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Post by Hector »

I agree with lavender. No settlement and no IPC, then the Orams situation could well happen all over again, in fact almost a certainty. And of course who are the easy and obvious targets? Any EU expat with money or property in the EU especially in the UK like Mr & Mrs Oram. With regards the apartments question, who owns the freehold of the land here in NC? Are the individual apartment owners, say 1/45 owners of the land?

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