# Beware Forclosure



## Baywatch (Mar 30, 2014)

Copied from another forum today. Now it starts

PLEASE BEWARE THIS HAPPENED TO US TODAY THE BANKS HAVE HAD ENOUGH . This has just been posted by my partner we have to leave our lovely home in 30 days , and our nieghbor 3 doors down the same its just awe full
Well what a **** day, at work get call from Eric to say guys from the bank have come to empty and repossess the house we rent because the f......g owner has not paid his mortgage for years thank Good our neighbor was home and called Eric or we would have lost everything we own and been locked out of the house. So looking for new home now, we have been given 30 days to leave ffs

There is also a lot of comments but this is enough.


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## David_&_Letitia (Jul 8, 2012)

Baywatch said:


> Copied from another forum today. Now it starts
> 
> PLEASE BEWARE THIS HAPPENED TO US TODAY THE BANKS HAVE HAD ENOUGH . This has just been posted by my partner we have to leave our lovely home in 30 days , and our nieghbor 3 doors down the same its just awe full
> Well what a **** day, at work get call from Eric to say guys from the bank have come to empty and repossess the house we rent because the f......g owner has not paid his mortgage for years thank Good our neighbor was home and called Eric or we would have lost everything we own and been locked out of the house. So looking for new home now, we have been given 30 days to leave ffs
> ...


What an awful position to be in - my heart goes out to these poor tenants.

I must admit, it never occurred to me that a Landlord would not be paying a mortgage whilst receiving rent every month.

If this is the start of the repossessions which we've been expecting, then we can surely expect a fall in property prices yet again.


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## Baywatch (Mar 30, 2014)

David_&_Letitia said:


> What an awful position to be in - my heart goes out to these poor tenants.
> 
> I must admit, it never occurred to me that a Landlord would not be paying a mortgage whilst receiving rent every month.
> 
> If this is the start of the repossessions which we've been expecting, then we can surely expect a fall in property prices yet again.


I have said since we came that this will happen. Not in the extent like in Spain where prices has gone down 50-75% but they will go down.

At the same time a huge amount of Title Deeds will now be available and many sellers that could not sell before will now put their property on the market. We already see a higher interest in our advertising service in Russia

It is horrible that there is no protection for tenants that get caught up in the middle.


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## Hudswell (May 14, 2010)

What rights do landlords and tenants have in Cyprus?

Interestingly there are Tenancy Rights for both landlords and Tenants quite how they apply in these cases would be interesting...but I am sure the Banks just mmarching in and giving 30 days notice is probably wrong, are these Tenants Cypriot or expat...I suspect I know the answer! And somehow I don't think evicting a Cypriot tenant would be so clear cut!


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## Baywatch (Mar 30, 2014)

Hudswell said:


> What rights do landlords and tenants have in Cyprus?
> 
> Interestingly there are Tenancy Rights for both landlords and Tenants quite how they apply in these cases would be interesting...but I am sure the Banks just mmarching in and giving 30 days notice is probably wrong, are these Tenants Cypriot or expat...I suspect I know the answer! And somehow I don't think evicting a Cypriot tenant would be so clear cut!


In the comments it is clear that they got 24 hours from beginning but if he promised to show the property for interested buyers they were allowed to stay 30 days. They also stated that the 24 hours is by law.

The tenant is expat.......


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## Hudswell (May 14, 2010)

Quelle Surprise...


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## PeteandSylv (Sep 24, 2008)

Does this mean the courts are not recognising the validity of any existing rental contract that a tenant may have under these circumstances?

It would seem to me logical that in the case of repossession the bank would wish to sell the property which is only fair but they should be bound to the notice terms in a tenancy agreement.

If not then the government may have made a hash of defining the legislation allowing repossession.

Also if this is the case then anyone renting a property would be advised to have a search to establish any mortgages on the property and their status.

Can we expect to see an increase in the number of properties being rented that happen to be owned by bank managers?

Pete


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## Baywatch (Mar 30, 2014)

PeteandSylv said:


> Does this mean the courts are not recognising the validity of any existing rental contract that a tenant may have under these circumstances?
> 
> It would seem to me logical that in the case of repossession the bank would wish to sell the property which is only fair but they should be bound to the notice terms in a tenancy agreement.
> 
> ...


In this case I am not even sure the bank was aware of the rental contract, but it seemed that they did not bother.


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## Baywatch (Mar 30, 2014)

PeteandSylv said:


> Does this mean the courts are not recognising the validity of any existing rental contract that a tenant may have under these circumstances?
> 
> It would seem to me logical that in the case of repossession the bank would wish to sell the property which is only fair but they should be bound to the notice terms in a tenancy agreement.
> 
> ...


Just an update

"Ok good news at last. I spoke to another property expert and they agreed that it is illegal for banks to force tenants out. Whoever this has happened to can claim compensation but each case needs to be examined by a legal team who will advise the best course of action (cost to be borne by landlord). Anybody who has been affected can pm me for the contact details of the relevant person."

"As I suspected there are squatters rights in Cyprus so they don't even have to leave if they don't want to and there is no way the bank can claim rights on their possessions. It's all smoke and mirrors - empty threats to get people to leave"

How valid, I don't know


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## Baywatch (Mar 30, 2014)

Baywatch said:


> Just an update
> 
> "Ok good news at last. I spoke to another property expert and they agreed that it is illegal for banks to force tenants out. Whoever this has happened to can claim compensation but each case needs to be examined by a legal team who will advise the best course of action (cost to be borne by landlord). Anybody who has been affected can pm me for the contact details of the relevant person."
> 
> ...


This is ofc a concern

"Not being funny but since when in Cyprus does the word Rights actually kick in , do you expect me to believe when the police and the banks come knocking on my door in now 27 days I'm going to say I've got squatters rights go away and get a court order hhhhmmmm for some reason I don't think il take that chance would you ? "


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## PeteandSylv (Sep 24, 2008)

Baywatch said:


> This is ofc a concern
> 
> "Not being funny but since when in Cyprus does the word Rights actually kick in , do you expect me to believe when the police and the banks come knocking on my door in now 27 days I'm going to say I've got squatters rights go away and get a court order hhhhmmmm for some reason I don't think il take that chance would you ? "


Yes I would because I doubt that the police will knock on the door without a court order or other official permission. I certainly wouldn't claim squatter's rights if I had a valid tenancy agreement and I'd feel even more confident if any approach was videoed and the press invited to be witnesses.

Pete


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## gasman1065 (Mar 23, 2011)

If the rules are the same as the UK , as a bailiff I was not allowed to evict anyone without a court warrant , squatters also can not be evicted without a court warrant , but why would you squat if you have a contract ?


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## gasman1065 (Mar 23, 2011)

If the rules are the same as the UK , as a bailiff I was not allowed to evict anyone without a court warrant , squatters also can not be evicted without a court warrant , but why would you squat if you have a contract ?


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## wizard4 (Feb 3, 2013)

Gasman is correct however that would assume tennants have the same rights in Cyprus either way its a bad show all round, to be suddenly told to get out of the home you live in .

Cheers


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