Is your property at risk?   05 May 2010

If you have not got the title deeds in your name it could be, for two reasons.

One reason is loans that have been taken out using your property as collateral.  If the borrower has failed to repay the loan the lender has probably taken legal action against the borrower. If the lender wins the case, by law your property could be sold to recoup the debt.

It has also come to our attention that some construction companies did not pay the companies that supplied goods and services some years ago. These suppliers have taken legal action to recover the debts and are receiving Judgements in their favour. As a result, Memorandums are been placed on properties that are still in the name of the construction company or landowner.  Yours could be one of these.

Your lawyer should be able to check if there are any court cases registered against your construction company, the individual directors of the company and the landowner. If it's not too late, you should consider becoming a co-defendant to that case.

If you need any guidance please call into the Pia Bella hotel in Girne any Tuesday from 12 noon onwards.