## Real Estate Fraud Case Highlights Vulnerabilities in Hungarian Property System
the first court hearing in a case involving the fraudulent seizure of a $165 million property in Gödöllő took place Monday, according to a report by Hvg. the property’s rightful owner has been attempting to reclaim it for the past two years.The fraud involved the creation of a forged power of attorney,falsely attributed to the actual owner. This allowed the property to be transferred into the name of a homeless individual, who subsequently sold it to another party. The transactions were officially registered with the Land Registry.
Investigators have uncovered evidence suggesting this is part of a larger scheme, with perpetrators allegedly acquiring at least 15 properties through similar deceptive practices. A lawyer involved in sales contracts is among those implicated.
A handwriting expert involved in the Gödöllő case confirmed the power of attorney did not bear the genuine signature of the property owner, but the initial fraudulent sale enabled the subsequent transfers.
This incident is not isolated. Similar cases of property theft have occurred across Hungary, often targeting plots that are infrequently visited or left unattended. For example, a woman in Budapest’s XII district recently discovered her property, valued between 300-400 million forints, had been fraudulently transferred to another individual, a case that is also proving lengthy to resolve legally (as reported by Telex).