The Government, in collaboration with the legislative authority and the Law Office, will make efforts to find an alternative solution for the issue of trapped property buyers.
This was stated to CNA by the Minister of the Interior following the Court of Appeal’s decision to deem the 2015 Law on the Transfer and Mortgage of Properties unconstitutional, emphasising that it is a legal and challenging issue.
Highlighting that the decision is binding, Minister Ioannou added that “unfortunately, it has been ruled that the Law is unconstitutional.”
“We will try, in collaboration with the Parliament, which legislates, as well as with the Law Office, to find an alternative solution. It will certainly be difficult, but we will try; it is a legal issue,” he concluded.
On his part, the Director of the Land Registry, Neoklis Neokleous, stated to CNA that the Land Registry is examining the issue in collaboration with the Law Office and the Ministry of Interior.
