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Real Estate

05 October 2018
George Ioannou Amendments to Transfer and Mortgage of Immovable Property Law introduced

Cyprus - George Z Georgiou & Associates LLC

Law 8(I)/2018 came into force in July 2018, amending the Transfer and Mortgage of Immovable Property Law. The new legislation was applied for the first time in a recent Nicosia District Court case, which is considered to be of great importance in assessing how the courts will interpret the new law in future. The case concerned an auction procedure which had been initiated by the sending of the relevant documents and notices to the mortgagor, which filed a lawsuit against Hellenic Bank to suspend a foreclosure procedure.

Authors: George Ioannou, Achilleas Christophorou
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Martyn Baudains Plans for Guernsey deposit protection scheme to be laid out before end of 2018

Guernsey - Ogier

The Office for the Environment and Infrastructure recently announced that a new deposit protection scheme will be planned before the end of 2018. The announcement follows news that a local estate agent has ceased trading, leaving some tenants and landlords uncertain of their position with regard to rents and deposits that were being held by that agent. The proposal is likely to be that Guernsey should introduce a similar, if not identical, scheme to that already in place in Jersey.

Author: Martyn Baudains
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