Buying a property throught local partner

1. You must find a good and honest lawyer. That is not as simple as it sounds. Not all lawyers are good or honest. Ask several local people for recommendations. Don't rely on the recommendation of your local partner who may have a 'friend' who is a lawyer, who may be OK, but who may not be OK.

2. Have the lawyer check that the deeds are clear deeds, without any encumberances or claims upon them.

3. Have the lawyer draw up a power of attorney document, which your partner must sign to give you power of attorney over the propert. It should be signed by your partner at the same time as you and your partner sign for the deeds of the property. This will give you control over the property. But be aware that power of attorney can be cancelled by your partner at any time, simply by putting a prominent advertisement in a local newspaper advising that the power of attorney has been recinded. Your prospective partner my not be aware of this. If he or she is not aware of it, it would be better for you if you did not make them aware of it. But any good lawyer should be aware of it. So be careful. If you and your partner fall out of sympathy it could lead to a protracted court case taking many years and a lot of money to resolve, and you may well in the end lose the court case and the property, and the partner. Be very very careful. People, who seem to be the nicest, most honest and straightforward people, can become very tricky when property interests are involved.
Property interests will nearly always override personal interests or friendship interests. And your prospective partner may have family members who also may take a keen interest in your property.

I speak from experience. I had to invoke my power of attorney to transfer the deeds of my house into my name, during a brief period some years ago when there was a change of government and the new government lifted restrictions on foreigners owning property. The period was brief, lasting only some two or three years, before the government changed again and restrictions upon foreigners were reimposed.

BE VERY VERY CAREFUL. FIRST STEP IS FIND A GOOD HONEST LAWYER AND TAKE THEIR ADVICE. What I have told you of my own experience may not be relevant now. Check it with a lawyer.

Hi Christopher,
Thank you for your answer.
So i have to find a lawyer, my own, and i have to put power of attorney into the deed, and my partner will know about it - but he can cancel it anytime without my permission? due to his 51% ownership? Do I understand it right?

Due to the new government laws foreign person is not able to buy a land,  now there is no possibility to buy a land and be a 100% owner as foreigner, althought I pay 100% tax?
It is really difficult to find newest laws  from the country, somebody knows where I can find latest news ?

This deed ,  which i will sign with my partner, our lawyer will write new one, or you know where I can find some similar, to know what kind of things i need inside of deed?

Thanks

Just find a good honest lawyer dear. He will advise you on the latest laws and taxes and requirements. Don't do anything without consulting a good honest lawyer. So the first priority is to find your good honest lawyer.

Buying through a lawyer or a partner having the same risk.

When it comes the term Lawyer, no one is Honest.

Best thing you can do is buy directly.

You can purchase apartment above 5th floor for no 100% tax.

Other option would be acquiring it through a business.

Everyone thinks BOI is the only way to setup a company. But certain provisions exist within the companies act to let a foreigner registering a company with decent stake in it.

No matter how many documents you signed with the partner or lawyer, when it comes to a legal battle no would be there to help you.

Simple example would be Thona Bay scam ran by the well known political figure from the Batticaloa named Arun Thambimuttu.