Rule
Under section 303A of the Criminal Code of the Republic of Cyprus, a person who, with intent to defraud, deals in immovable property belonging to another is guilty of a felony punishable by up to seven years’ imprisonment. "Dealing" includes selling, letting, mortgaging or encumbering property or making it available for use; advertising or otherwise promoting such transactions; entering into an agreement for them; and accepting property that is the object of such a transaction. A person acts with intent to defraud if they do any of these while knowing, or where they ought reasonably to have known, that the registered owner has not consented. An attempt is punishable by up to five years.[1]
Practical implication
This is Republic of Cyprus law. It reaches conduct relating to property in the north whose registered owner under Republic of Cyprus records has not consented, and it has been enforced against foreign nationals present in the Republic or subject to European arrest warrants. Whether it applies to a specific property depends on who the registered owner is in the Republic’s records.
Applies to
- Who:
- Any nationality · Individuals · Companies and other legal entities · Buyers · Sellers · Developers
- Title class:
- Equivalent-property title · Allocation title