Cyprus has some of the best residence programs for foreign citizens in the European Union. One of these programs refers to investment by purchasing a property in Cyprus. Considering the success of the scheme, many foreign citizens have established themselves in Cyprus. However, with the development of the real estate market, the number of litigation related to property has also increased. Cyprus’ legislation covers some of the problems that may appear through the Rent Control Law. This law, however, only applies in the case of renting a Cypriot property.
If you want to buy a property and more information or help you can refer to our Cypriot lawyers.
During the last few years the most frequent litigation cases related to real estate refer to:
Litigation may also arise between a seller and buyer when it comes to real estate.
While litigation between the landlords and their tenants are governed by a specific legislation, the other issues fall under the governance of Chapter 148, also known as the Civil Wrongs Law within the Cypriot Civil Code. Litigation over the boundaries of a property can be clarified by the Cypriot Land Registry.
It is always best to verify with a law firm in Cyprus the best legal way of resolving litigation related to properties.
If unable to reach an amicable agreement, property disputes can be tried by the Cypriot courts of justice or by arbitration. Real estate litigation will be tried by the District Courts and the Rent Control Courts. It is also important to know that civil wrongs litigations have a limitation period of 6 years. In case of disputes related to tenancy contracts the limitation period in 3 years.
The simplest way of resolving property disputes is arbitration. Cyprus has its own Arbitration and Mediation Centre which allows for swift resolution of these types of disputes.
If you need assistance in disputes over real estate, do not hesitate to contact our Cypriot attorneys for legal advice.
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