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January 19, 2016

Kulaksız-5

Kulaksız 5-SA Cyprus Law Firm

Home buyers had bought holiday homes in Karşıyaka from Kulaksız -5 site in 2004-2005 from Kulaksız Construction.

In December 2005 the bank had granted a mortgage to a landowner who had already sold the land and had granted permission to build and sell villas. The landowner and the Construction Company knew that the villas had been sold and were occupied at the time the mortgage was granted. However, the Bank made an application to the District Land Registry for mortgage and then for the Sale Order.

4.12.14

Our team worked very hard together to prove that the original Mortgage documents, which referred only to “bare land”, when the Bank knew that there were houses built and people living in them, were fraudulent.

It has been a long road to Justice and Hasan Alkan provided such a high effort to win rights of the home buyers.

After 6 years of struggle the Judgement was given in Kyrenia District Court on 4th December 2014.

District Court gave Judgement for the K5 home buyers when he found the Bank’s Mortgage and an application to the District Land Registry for a mortgage were both fraudulent.

The bank is appealed for the judgement held in Lower Court and Hasan Alkan is representing his clients at the High Court now.

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