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Bali - Property boom ... with warnings

This very well penned news story is worth a very careful read by anyone considering 'buying' property in Bali.
The long and the short is, any contract that works outside the law is toilet paper and you have a fair change of losing your cash.
I've included a snip but reading the whole thing is a very good idea.

https://www.balidiscovery.com/messages/ … p?Id=17029

What is not revealed by the article are the grave legal problems experienced by legions of foreigners in Bali purchasing property using local Indonesians as the nominee owner. Legally wrong from the get-go, it is a well-accepted principle of law that any legal device purposely configured to circumvent or frustrate both the letter and spirit of the law are ipso facto legally null and void and therefore without legal force. And, on this count, foreign buyers should have no doubt that the Indonesian Constitution is absolutely clear in its opposition to ownership of Indonesian property by non-Indonesians.

Underlining this fact are a large number of cases of nominee deals gone bad in which foreigners have lost their “dream properties” due to their inability to enforce legal agreements created outside the law. Add to this, is the precarious position compliant nominee owners now find themselves in the changing legal environment in Indonesia where officials are taking sterner steps to halt money-laundering, asking the source of funds used to purchase properties by so-called nominees.

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