Linda and David Orams paid around ?160,000 for a refurbished detached house in Lapta in 2003. A Citizen of the Greek Republic of Cyprus, Mr Meletis Apostolides, claims that he is the rightful owner of the land on which the villa is built.
When Cyprus was partitioned into North and South, then Greek Cypriots residing in the North fled to the South, and Turkish Cypriots residing in the South moved north. Property, land and possessions were abandoned by the fleeing refugees. Since 1974, both the Turkish Cypriot administration in the North and the Greek Cypriot administration in the South have devised policies as to how this property and land should be used. The North Cyprus administration has issued TRNC title deeds in relation to previously occupied and owned Greek land. The authorities in South Cyprus have been more circumspect on this matter.
In October 2005, the South Nicosia District Court registered the adverse judgement against the Orams with the British High Court in London. This was based on an EU agreement whereby convicted criminals in one EU state could not evade justice by fleeing to another EU country. As the Greek Republic of Cyprus joined the EU in 2004, they are able to resort to this arrangement between EU states. Mrs Orams appealed against the registration.
The case was heard in London at the end of July 2006.A director of Wellington Estates Ltd was in court to listen to the proceedings.
Ms Cherie Booth, also known as Blair, represented the Orams. Ms Booth reminded the court that when the republic of Cyprus joined the EU, it signed and accepted Article 1 Protocol 10, which states "We (the Greek Republic of Cyprus) have no effective control over the North." Considering Article 1 and the fact that the case is still at appeal stage, the UK and other EU states cannot interfere in the affairs of Northern Cyprus, she said. Referring to the difficulties Article 1 presented, she said, "If you don't have effective control over the North how can you implement laws."
This is a powerful argument, as the Greek Cypriot administration, by its own admission, has no effective power to enforce a ruling made by a Greek court in Nicosia on a property in Lapta, which is some 25 miles away. Indeed, since the attempt to serve a writ on Mrs Orams the TRNC authorities have made it clear that any repeat of this exercise will lead to the arrest of those persons attempting to serve an unauthorised writ.
Viewed from this perspective, the Greek Cypriot effort to register a Greek Republic of Cyprus court judgement in London lacks logic and could be considered mischievous. If a Greek court cannot enforce a judgement on a property some 60 miles away, how can a UK court be expected to fare better ?
However, there is a hidden agenda in this matter. The Greek complainant is aware that the Orams have a house in Brighton, in addition to the disputed property in Lapta. Should the complainant be successful in registering the Greek court's judgement in London, and should Mrs Orams fail to comply with the demolition order in a reasonable period of time, then the next stage of litigation will be an application for the UK court to seize Mrs Orams assets in the UK.
Mr Justice Jack has stated that he is unlikely to make a ruling on the case before September 2006.
If you are looking for Europe's current hot spot to set up home then you will need to head over to Northern Cyprus, which boasts more than 300 hundred sunny days per year. Cyprus itself is a fairly large island in the Mediterranean sea and does not seem to have felt any effect from the current economical crisis that has a grip on the rest of Europe. Villa investment in Northern Cyprus continues as it comes to a halt in the rest of the continent and "buy to let" seems to be the answer as people just love Cyprus and it's almost perfect all year round climate.
North Cyprus offers a unique package of lower year round prices, one of the oldest cultures in Europe, friendly locals, excellent security with low crime rate and don't forget those constant blue skies. All in all you really cannot go wrong with property investment here and you are about to discover more reasons why.
If you are just looking for a quick return or even a long term investment, you need look no further than purchasing a villa in Northern Cyprus. You will be surprised on the amount of development that is still going on there and this alone will give you the confidence you need. The smartest way to make money is through buying off-plan and that way by the time it has finished in about 18 months, you will have already made a big profit.
I wouldn't be telling you all this if I couldn't back it up, but I have bought several villas in Northern Cyprus over the last few years. The conclusion to my investments is that each villa has appreciated by an average of 25% per year and I only have to rent them out for an average of 14 weeks per year in order to cover the monthly mortgage repayments. Not only that, but I have managed to clear my UK mortgage in just 3 years, so I am a winner on all fronts.
A booming new build market normally makes way for bargains to be found in the second hand property market. I have seen villas with 3 bedrooms, 2 bathroom and a pool for about 120.000 pounds sterling and all that with a sea view. I see this as a good long term investment and a good tip is to always offer about 15% less than the asking price as these guys like to haggle a bit.
Both Leslie Hardy & Tim Martins are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Leslie Hardy has sinced written about articles on various topics from Mortgage, Tony Blair and Education. Leslie Hardy is the UK Chairman of Wellington Estates Ltd, a North Cyprus property developer. Read the full article about