Irish couple

An Irish couple soon falls in love with Alanya. They decide to buy a house and are even ready to invest as soon as they find the right partner for this. After a while they think they have found the right person. He speaks quite good English, appears to be confident, and updates the couple in his 'business affairs' and "political connections' with the local council. In short they trust him, and soon agree to purchase a plot where they can build villas. The contract is drafted and confirmed by email. The Irish couple transfer funds regularly on the basis of this contract. They get positive feedback about the build via email and when they visit Alanya once or twice a year, they get a warm welcome. Another contract is drawn up in English through the businessman's advocate, stating that the land and villas built upon it are owned by the Irish couple. Satisfied with progress, they purchase a further apartment and a plot for future investment. The fact that ownership appears in the name of their Turkish partner is not an issue.

In the meantime, however, the Irish couple's marriage breaks down. The legal costs associated with divorce mean that the husband can not afford to make payments to Turkey for the time being, When he tries to resume things, he is confronted by his business partner asking for more money than was agreed. Sorry, prices have gone up in Turkey and if he fails to transfer the funds, the villas will not be finished. Out of necessity the Irishman takes out a second mortgage on his home in Ireland and transfers the funds. In the meantime he learns that one of the villas has been sold to a Finish couple. That's good news. It means he can pay his ex-wife and probably see a return on his investment. Upon arrival in Alanya, the Irishman sees that the villas are still a long way off completion. When he enquires as to the whereabouts of the funds, his partner informs him that the amount was received in TL instead of Euros. The exchange rate is too low and it makes sense to wait until it goes up. The Irishman will get his cash later.

Whilst the Irishman is well aware of the situation, he wants to remain keep ahead of the game. With considerable difficulty and patience he arranges for the Tapu for the apartment and plot outside Alanya to be transferred into his name. He has to return to Ireland. When he gets there he receives part of the amount in the name of his ex-wife and a small sum in his own name. This is nothing like the sum that he had expected. Returning to Turkey he sees that the sold villa is not only complete, but has been furnished by the new buyers. When he asks his partner for the final balance he comes across many irregularities. There are random deductions without invoices to support them. Finally his 'partner' transfers the incomplete villa into his name. His partner says that he cannot transfer the funds owed because it would bankrupt him.

You've probably already guessed that this story will end in a difficult court case.

It says a lot about Trust' in the Turkish business world, while the legal system in Turkey is rather based on mistrust. Well thought-out plans, in advance of investing in any kind of venture in the beautiful country of Turkey, can save so much grief and expense afterwards. Profitable business in Turkey is very much a reality, providing that agreements and contracts are drawn up properly and incorporate suitable guarantees. To do this, a lawyer can help you.