Understanding the Political Implications of Holding Property Abroad

If you are looking to hold property abroad, there are political implications to this decision that must be examined before going forward with the decision. These political implications are as important a part of the decision to hold a property as any other decisions made to invest in overseas property. The risk of political unrest or turmoil can have a significant impact on your title rights to the property and should be examined closely before making any investment in a property overseas or for you to continue to hold the property.

Concerns Regarding Overseas Property Holdings

Aside from property holdings in countries that are considered stable in terms of their economic forecasts and government, property holdings in third world or emerging countries can be tricky. That is because a little understanding of a country’s political future is not a sufficient defense when property that you hold is being seized or is controlled by another political faction within the country. That you may hold legal title to the property may be well in good in a U.S. domestic court of law but such jurisdiction carries no weight in a foreign jurisdiction.

Working with an Overseas Broker or Realtor

You should work with a trusted realtor, or real estate broker, who understands better the political climate of a particular country or region of the world. Such a person can help you with the nuances of owning property abroad and when it may be a good time to consider selling the property in advance of any political issues that may affect your ownership and property rights.

Visiting the Property Overseas

If the property that you hold abroad was acquired by inheritance the chances are that you have not yet seen the overseas holding. Visiting the property and getting a tour will give you a sense of the property holding and also a sense of the political environment in the country. You should speak with neighbors and other locals for first hand accounts of the political landscape. They can also give you an idea on tax policies, any rumors of rising political discontent and whether it is safe to continue to own the property as a foreigner.

Stay Current on News

You should also stay current on local news for the country where you purchased. You may want to set up a news feed for your mobile telephone or on line via email in order to tag information related to the internal affairs of the country. This will help you find out information that may have an impact on your property and make decisions about continuing your holding or dumping the property in order to save some of the investment. This is a vital part of the process to protect your interests in the property in advance of any political situation that would deny you the rights you have in the overseas property holding.

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