Arnheim Solicitors

Legal Issues Blog

Legal Issues, UK Law

Care Needed When Buying Perfect Pad Abroad

We see many property programmes from overseas nowadays – not for just looking at but for punters to go and buy.  This all sounds wonderful and we know many folk who have bought apartments and villas in hotter climes.  Cyprus is one island that we  have been visiting for many years.  Because of its vicinity it’s an ideal location for ex-Pats to buy a property for holidays if they work in the middle east.  The non taxable employment status of many well paid Brits abroad make it very appealing  The problem though is the very different conveyancing.    There are so many legal loopholes over there and it is very common for innocent buyers to think they’re getting the property of their dreams complete with the deeds.  Nothing could be further from the truth.  We know of many who have never seen their deeds.  The developer uses them as collateral against bank funds for their next poject and those deeds are then traded up again further down the line.    It’s absolutely against the law, but their legal system is rubbish compared to the UK.  Worth bearing in mind.