Cash-strapped IPC facing closure

The Immovable Property Commission (IPC), established by Turkey in the TRNC may no longer be able to function as a local remedy because it no longer has the funds to pay compensation.

Chairman of the Social Democracy Party (TDP), Cemal Ozygit said that a certain amount of money to compensate Greek Cypriots for their properties in the North had been secured by Turkey and added that if the problem of securing further funding is not solved, there was a real danger of the IPC becoming defunct.

He went to say that his party will submits its views, as requested by Speaker of the House, Sibel Siber. However, in view of the fact that the property issues is part of the negotiating process, they were not in favour of any moves that would be contradictory to that process.

“It is known that the compensation for the land on which big hotels and the Middle East Technical University (ODTU) had been constructed was paid by Turkey”, he said adding that “our work will be related to the way by which compensations will be paid from now on and to the exchange [of property]”.

In its report, ‘Kibris Gazetesi’ recalls that National Unity Party (UBP) deputy Hamza Ersan Saner, had prepared a law providing that if the Greek Cypriot owner of a property in the North and its Turkish Cypriot user agree, they could solve the problem through the Commission. The Turkish Cypriot could pay for the property to the Greek Cypriot, the property would become Turkish property and the Turkish Cypriot’s points for “property of equivalent value” would become void.

According to Ozyigit, however, in order for the legal provisions to be implemented, the following questions should be replied first: “Will territorial concessions be given? Are there areas which will be returned? Which areas will be returned? How will the compensation mechanism work in those areas which are returned?”

Speaker of the House Sibel Siber, commented that in case the exchange of property is successfully implemented as a solution, the title deeds given by the TRNC will be internationally valid and in this way, “bi-zonality”, which is one of the parameters of the solution of the Cyprus problem, will be guaranteed. Siber argued that if the Commission cannot pay compensations, the benefits gained from its establishment will be lost.

Kibris Gazetesi

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on email

Other Stories