Cyprus

"No" of the Court in the transfer of a property sold at auction

In particular, the law firm Spyros Arotis- Elena Aroti & Associates D.PE., through the lawyer Elena Aroti, succeeded with an application, which was addressed by the President of the District Court, the issuance of an Interim Decree which prohibits (a ) to the Defendant the Application - Non-performing loan Management Company and (b) to the Department of Land Registry and Surveying to transfer to any natural or legal person the property of the Applicant.

It should be noted that through this Application the District Court dealt with the novel legal point (novel point) of the enforceable right of a debtor after the sale of the mortgaged property, through auction or direct sale. The Legislation on which the application was based is, among others, the Law on Transfer and Mortgage of Real Estate 9/65.

Source: sigmalive.com

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