TRNC INTERIOR MINISTER: ''NO SALE OR TRANSFER OF PROPERTY COULD BE MADE WITHOUT THE APPROVAL OF THE COUNCIL OF MINISTERS''
LEFKOSA - Ozkan Murat, the Interior Minister of the Turkish Republic of Northern Cyprus (TRNC), has stated that no sale or transfer of property could be made without the approval of the TRNC Council of Ministers.
Ozkan Murat, in a written statement, said, ''recently some speculative reports about purchase of property by foreigners have caught our attention.''
Murat said that they opted to inform the public in order to eliminate misunderstandings between foreign nationals, real estate agents, lawyers, and engineers.
''The procedure for purchase of property by foreigners in the TRNC has been defined with legal clause no. 109. And, it is not possible to evaluate applications regarding the purchase of property without extensive research on the applicants,'' Murat stated.
Murat continued by expressing that certain individuals go ahead to carry out a contract right after they file applications with the Ministry. ''Both buyers and sellers could lose their property rights if they take action before the approval is granted by the Council of Ministers,'' Murat said.
According to Ozkan Murat, the TRNC Interior Ministry has no intention to prevent foreigners from purchasing property.
''As is the case in all European Union (EU) countries, individuals and private parties have rights to buy properties. Of course, it is vital for individuals to abide by all laws and regulations in the TRNC,'' Murat commented.
(BRC) 22.07.2004