An important ruling was handed down recently by the UK Court of Appeal. The ruling ended a 5 year legal battle over a piece of property purchased by a British couple in northern Cyprus that had involved legal battles in Cyprus, the UK, and Luxembourg. The couple had purchased the land from someone in northern Cyprus who claimed to own the land in 2002. After building a villa there, they were sued in 2004 by the property’s Greek Cypriot owner who had been displaced by the Turkish invasion in 1974. The final ruling in this case ordered them to tear down their house, return the property to its owner, and pay back rent and his legal bills. This might be a very important ruling if it is enforced.
- “…the ruling was expected to act as a future deterrent for speculators in stolen Cypriot properties, as well as those willing to take small or bigger risks. Some 5,000 Britons have bought property in the north.”