07 March 2014 10:25

NICOSIA -- Approximately 6,000 applications have already been submitted to the Land Registry for repossession of properties Akel MP Yiannos Lamaris said on Thursday adding that the House must move forward with a joint Akel-Edek legislative proposal to protect primary residences and small and medium businesses.
Deputy Director of the Land Registry Vasos Petrides revealed that repossession procedures were already underway, but was unable to reveal whether these involved primary residences or holiday homes.
He also confirmed that the department has received applications for repossession of properties but would not disclose the exact number.
Finance Minister Harris Georgiades has asked the members of the committee to postpone discussion of the issue until the end of the year when a government bill is sent to the House to regulate these issues.
Edek MP Nicos Nicolaides said that the government’s disagreement with the legislative regulation of the issue was inconceivable and added that during their recent visit international lenders seemed to be understanding regarding the need to protect primary residences and avoid mass repossessions.
Chairman of the Legal Affairs Committee Soteris Sampson made clear that despite any disagreements a unified text will be taken to the plenary before the end of the month.


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