HomeNews MenuLatest News & UpdatesRemand for Man who Sold House that Wasn’t His

Remand for Man who Sold House that Wasn’t His

POLICE yesterday issued a four-day remand for 40-year-old Pavlos Kyriacou from Limassol after he tried to sell a house that did not belong to him to a British citizen.

Kyriacou agreed to selling the property to the man in July 2005 for the total sum of £110,000.

According to reports, the British man gave Kyriacou a down-payment of £60,000 through his lawyer, but became increasingly suspicious when the 40-year-old did not respond to any of his calls.

The man then decided to take matters into his own hands and came to Cyprus where he discovered that the house did not belong to Kyriacou but to a 50-year-old Nicosia citizen.

He then reported the case to the police who arrested Kyriacou.

Copyright © Cyprus Mail 2007

RELATED ARTICLES

Essential Due Diligence

While buying property in Cyprus holds many opportunities, it also comes with risks. Carrying out due diligence before signing a sale agreement is essential to safeguard your investment, avoid legal complications, and ensure peace of mind.

Top Stories

Property Transfer Fees

Transfer fees are charged by the Department of Lands and Surveys (DLS) when the full legal ownership of a property is transferred to the purchaser. (In some cases this process can take many years, causing angst & frustration for buyers.)

EUR - Euro Member Countries
GBP
1.1676
RUB
0.0103
CNY
0.1292
CHF
1.0580

Capital Gains Tax

Capital Gains Tax (CGT) is generally 20% on the taxable gain from selling immovable property - and it can also apply to certain disposals of shares in companies holding real estate on the island, subject to applicable exemptions and deductions.

Elsewhere in Cyprus Property News