Is it necessary to hire a solicitor when building a family home or granting or taking out a loan, etc.?
In practice, it often happens that we, as private individuals, prepare high-value contracts for which the law does not require the involvement of a solicitor. Just think of a contract for the construction of a family home, a loan or a leasing agreement (e.g. for the purchase of a car) or a contract for overseas travel.
In such cases, we recommend that you consult a professional before signing the contract to ensure that your interests are adequately protected. A preliminary consultation is always much cheaper and more effective than dealing with problems arising from ill-considered contracts.
Time-sharing contracts are a good example. These are almost always concluded by agents who are keen to get buyers to sign the contract and accompanying documents immediately. The legal structure of such transactions is practically incomprehensible to non-specialists, since buyers are asked to sign several contracts and declarations simultaneously. Our advice is, of course, not to sign any documents until they have been reviewed by a solicitor appointed by you. However, if you find yourself in a situation where you have signed a contract you later regret, all is not lost: consult a solicitor as soon as possible, as these contracts usually contain a short period during which the buyer can change their mind and withdraw from the contract without facing any consequences.
Recent economic events in Hungary, including the insolvency of one of the country’s largest travel agencies and an airline, highlight the importance of foresight and forward thinking. If you contact us before signing a travel contract, we can advise you on how to minimise the risk of the travel company becoming insolvent.