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Court suspends transfer of 40/60 condos
40/60 condos

Court suspends transfer of title deed of 40/60 condos

The 8th Civil Bench of the Federal High Court at Lideta has suspended the transfer of the title deeds of more than 18,000 40/60 condo houses which were slated for handover to homeowners who were picked from hundreds of thousands of registered home seekers by a lottery drawing a month ago, The Reporter has learnt.

Winners of the lottery drawing were made public at a ceremony held on March 6, 2019.

The court’s decision is attributed to a civil suit instituted by 98 individuals who have paid in full the required amount for the houses and yet unduly denied of their rights to take priority in the lottery drawing.

Furthermore, the court instructed Commercial Bank of Ethiopia (CBE), the Addis Ababa City Administration and the Urban Development and Construction Ministry to give replies to accusations on June 6. The litigation between the two sides is slated for June 17, 2019.