ΔΙΚΑΣΤΕΣ ΚΑΙ ΔΙΚΗΓΟΡΟΙ - ΔΙΑΛΕΞΗ ΑΡ. 10 (2010/2011)

Purchasing a property is one of life’s most significant financial decisions. Whether you are buying your primary residence, a holiday home, or making an investment, the process requires informed and careful planning to avoid legal complications or financial risk. In Cyprus, buyers must consider a range of legal and practical factors before proceeding.

In Cyprus, co-ownership (undivided ownership) typically arises when two or more people purchase property together or inherit it in equal shares. While often well-intentioned, especially in family contexts, co-ownership can lead to serious legal and practical challenges.

Specific performance — the remedy compelling a party to fulfill their contractual obligations — sits at the intersection of law and conscience. In Cyprus, it draws life from both equity and statute, most notably through the Sale of Immovable Property (Specific Performance) Law of 2011 (Law 81(I)/2011). Understanding the remedy’s role, limitations, and procedural requirements is essential, particularly in the real estate sector, where monetary damages may fall far short of justice.