It is now imperative that the TRNC Government take action to correct matters, to ensure that:
1) Mortgage repossession proceedings be suspended with regard to all homes in TRNC until enacting new laws or reinforcing existing laws and procedures as outlined in this 8 point proposal.
2) The rule of law prevails inNorth Cyprusand any indirect way of stealing is not allowed. There should be heavy penalties for ignoring TRNC laws or attempting to mislead the Courts. To confirm the TRNC Government is the ultimate guarantor of contracts and is obligated to fulfil their conditions
3) With the exceptions of undesirable aliens and designated land areas made known to Solicitors, that “permission to purchase” is a quick process and that contracts are registered as part of that process..
4) Home buyers’ contracts signed in good faith are binding and are unequivocally respected by the Courts.
5) The government instructs the Central Bank to notify all Banks that the rules of TRNC Mortgage Law 11/78 cannot be ignored by a creditor and that they will be enforced by the Courts. That for the avoidance of doubt, any creditor needs to search and declare any houses on any secured land and that any contracts of home buyers are binding on any creditor too.
6) Homes cannot be taken away from residents without their knowledge or by fraudulent tricks. When a landowner or creditor allows a home to be built or sold on his land he cannot ignore the sales contracts and grab the homes of home buyers, as in 5 above any creditor is also bound by the same contracts.
7) Kocans should be transferred to homebuyers as soon as they have completed their contracted obligations without any further payment to any creditor, landowner, developer or solicitor.
8) The Government confirm that TRNC Kocans (Freeholds) are secure title and that Turkey is the ultimate Guarantor.