Walking away from an overseas property

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neddy1970 | 07:54 Thu 22nd Oct 2009 | Civil
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I have put a 20% deposit on an overseas property (in the EU) and now want to walk away from it. What are the chances that the developer will chase me in the UK for remaning amount. I have checked my contract and there is no exit arrangement. I have spoken to the developer and he has asked for 15% to exit - completely ridiculous!

I have done a fair amount of research and it seems that it is possible that he could pursue me, however that would take years and would be very costly and it is more likely that he will just keep my initial deposit - is this true.

To safe gaurd myself I have been thinking of transferring my assets into my girlfriends name. Is this a good option? Obviously I would want to ensure that she signed a contract to say she could not sell the property etc


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