Would I need a legal adviser in Argentina as well as in Ireland? Do you have any advice?
MB, by e-mail
The Argentinian economy is entering a growth phase, so early-bird investors could see a good return. The transfer of the title deed of property in Argentina is formalised through the subscription to the public deed, with the Civil Law Notary Public body justifying the transfer.
Before the transfer, the parties formalise the agreement with a private contract. Then part of the price is paid, usually 30%, and dates are established, such as when the balance will be paid and when ownership will be handed over.
Advertisement
If buying property in Argentina, or any foreign country, you should have key legal work carried out by a lawyer in that country or by an Irish firm that specialises in overseas law. Always have someone here check all documents and transfers.
Check that the seller legally owns the property. If the home is new, ensure that all local building permissions are in place. You also need to check there are no charges or debts registered against the property, which you might inherit. Make sure the contract is scrutinised on your behalf and that all aspects of it are explained to you.
On completion of the purchase, you need to ensure that you are registered as the owner.
Advertisement
Catherine O’Sullivan is chief executive of Overseas Property Law based in Dublin 7