The Parliament approved a proposal for a law amending the Civil Procedure Law in order to determine a specific deadline within which the creditor, either in person or through his authorized representative, withdraws the registration of a judgment on the debtor's immovable property (MEMO), in case of which the latter has fully paid the creditor's claim.
The deadline was set at 30 days.
This is a law proposal, which was filed by Nikos Georgiou, DISY Member of Parliament, and was overwhelmingly voted for (30 votes in favor out of a total of 34 MPs present).
Mr. Georgiou, in his presentation to the Plenary, stated that for years reckless loans were given, resulting in us having heaps of NPLs.
He said judgment creditors were indiscriminately placing MEMOs on all debtors' property and when debtors paid it was observed that creditors did not delete the MEMO resulting in unnecessary inconvenience and expense to debtors.
With this proposal, he said, we come to correct a distortion that causes delay, expense and inconvenience.
The rapporteur explained that it is considered appropriate to set a specific deadline of 30 days from the date of payment of the claim, in order to deal with the phenomenon of the registration of the judgment remaining without the knowledge of the debtor, for a long time after the payment of the claim.
This, he explained, causes unnecessary inconvenience to the debtor, in the event that he, thinking that the registration of the judgment has been withdrawn, wishes to proceed with the disposal of his property in the future.
DISY MP Marios Mavridis said that a proposal for a law on banks and late payment interest will soon be submitted so that borrowers are not burdened when the loan is terminated.
AKEL Member of Parliament Aristos Damianou stated that this is a simple law proposal with important social ramifications that help citizens.
On the same wavelength and MPs DIKO Panikos Leonidou, Movement of Environmentalists - Citizens' Cooperation Stavros Papadouris and independent Alexandra Attalidou.
It is worth noting that during the discussion of the proposal in the Parliamentary Legal Committee, it was mentioned that the Ministry of the Interior within 2025 is expected to launch the creation of an electronic cancellation service of court judgment registrations in real estate.
For the purposes of withdrawing the registration at the provincial land office, in addition to the written notification of payment, the presentation of a relevant application is also required.
