Northern Cyprus: law drafted for 49-year use rights for equivalent point holders

Prime Minister Ünal Üstel said the government is working on a new legal arrangement for citizens who moved from South Cyprus to the north and cannot use their equivalent points. Speaking on a televised programme, Üstel said there are about 5 billion equivalent points, and the arrangement aims to grant citizens 49-year use rights over properties.

According to Üstel, the regulation will cover not only homes but also land. The right of use could be passed on to children through inheritance, and citizens could use it as collateral to obtain financing. Üstel said the approach would give long-term use rights instead of direct title deeds, and that the operation of the Property Commission would be preserved.

Üstel said the draft law, which has been worked on for about a year, was sent to the Attorney General's Office on 3 June. He said that, as of the programme date, an opinion had not yet been received and the legal process was expected to be completed.