hungary budapest "assignment of the managing director"

Hi,

Any experts on Hungarian property?

I recently started the process of selling the apartment in Budapest..

the solicitor in Budapest told me the "assignment of the managing director" had expired.

I think it expired after 5 years or maybe it was 10 years .. because last time I remember doing anything was back in 2004.

So I now need to create a new "list of members" and mandate, power of attorney etc

I really don't understand what it's about or why it's required and don't think they can explain it to me in words that I understand.

Does it make sense? Do I need to worry about what I'm signing?

I think it has to be done soon or I might get penalized..

Thanks in advance.

Roger, I have a bit of experience with property in Hungary. It sounds like you bought a property through a company you set up, not in your own name. Is this the case? If it is, then it sounds legit.

If your solictor in Budapest is trustworthy, and most but not all are, his advice is almost certainly sound. That's the best I can say. Try paying for the advice of an alternative reputable lawyer if you are worried about anything.