The Myth of Direct Property Sales by Greek Cypriots in Northern Cyprus
A persistent misconception among Greek Cypriots is that they can directly sell their properties located in Northern Cyprus to foreign investors. This belief has caused confusion and, in some cases, legally problematic transactions. Here’s a detailed explanation of the legal realities surrounding this issue.
The Legal Status of Greek Cypriot Properties in Northern Cyprus
Following the events of 1974, properties in Northern Cyprus owned by Greek Cypriots became subject to a unique legal framework. Under the current system, Greek Cypriots cannot directly sell or transfer these properties without adhering to the procedures defined by the Immovable Property Commission (IPC).
The Role of the Immovable Property Commission (IPC)
The IPC is a legal body established to address claims concerning properties abandoned in 1974. Recognized and supervised by the European Court of Human Rights (ECHR), the IPC serves as the only legitimate venue for Greek Cypriots to pursue claims.
The IPC provides several options to applicants:
- Compensation: Monetary payments for the loss of use or ownership.
- Exchange: Swapping Northern Cyprus property for equivalent property in the South.
- Reinstatement: Returning the property to the original owner, where circumstances permit.
Without using the IPC, any transaction involving such properties risks being deemed invalid under Northern Cyprus law, exposing all parties to significant legal and financial risks.
ECHR Recognition and a Recent Decision of Appeal Court in Republic of Cyprus
The ECHR has fully endorsed the IPC as an effective local remedy. Moreover, a recent Court of Appeal decision in the Republic of Cyprus emphasized this point. The court ruled that Greek Cypriots wishing to escalate their property claims to the ECHR in Strasbourg must first exhaust local remedies by applying to the IPC. This decision underscores the importance of the IPC’s role and its recognition within international and domestic legal frameworks.
Conclusion
The belief that Greek Cypriots can directly sell their properties in Northern Cyprus is a myth. The IPC remains the sole authority authorized to manage claims on these properties, fully recognized by the ECHR and backed by legal precedents.
This article has been prepared by Sertbay Law Firm. For more information, please contact us at:
Email: [[email protected]]
Tel: +90 392 2288001
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Web: www.sertbaylaw.com
N.B. This article is for general information only and does not constitute legal advice.
