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About: Pocket contract     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : owl:Thing, within Data Space : dbpedia.demo.openlinksw.com associated with source document(s)

A pocket contract is a land-purchase deal that abuses a loophole in the legal restrictions regulating land deals. The term is mostly used in Hungary. Until May 2014, Hungarian laws did not allow foreigners to purchase Hungarian land. The term originally referred to land deals that omitted the date of the purchase, and the contract was kept ‘in the pocket’ until the land law is changed. The term is now used in a more general sense, and it refers to any contract that aims to circumvent the land laws for the purpose of land grabbing.