Judicial auction part 2

[biffa]

Anybody know who owns a house at Mato Serrão held in name of ELLSMERE LIMITED? If so p.m. me please

[martin]

whats going on with these auctions...is this all to do with offshore?

where are these auctions held? are the properties discounted?

[PeterJ]

Don't forget inherited debt is a major factor in the sale of a ltd Co..
People are having to sell unfortunately because of high taxation rates i.e Nice house probably purchased without sisa, escalated in value etc...
How much??!!! taxation per annum?
Hope you get the point...

[biffa]

Martin

Both these properties have charges raised against them due to unpaid rates. If not sorted out the Finanças will auction them off to retrieve their taxes

[Guest]

where do we find out about these auctions? having seen the tv programme about uk auctions i am just interested in how they work here.

is it sealed bids...auctioneer...are they sold to friends in high places..
is there a reserve? hope thats not too many questions

martin

[gareth cade]

A search of the net suggests that ELLSMERE LIMITED is a Gibraltar company (number 50882) that is in the process of being dissolved. One may be able to get more info from the Gib companies house.

[biffa]

Thanks Gareth

I suspect it is an offshore where the owner has bought the house back onshore and is winding the company up then. Thing is the tax debt attaches to the property not the company so it is the actual owner we need to find. Ellesmere Ltd seems to own a bit of land witha small house or ruin up near Solferias but the other one I posted is a very nice 3 bed with pool on A D M.

Martin, news of auctions is posted by the tax dept in local newspapers like Gazetta de Lagoa or Voz de Silves for your area. I scan them regularly, not to bid but to try and save some poor sod their house being sold over their head!

Auctions have a minimum reserve set by tax dept and is by way of sealed bid. I have been to them and they seem sort of fair(?)

[martin]

what ever happpened to the increased 2 per cent rates that were due on offshore houses last year.....did anyone receive them? if not could the tax people decide to start auctioning off houses for taxes that many of us never received?

[Guest]

Biffa, try Chico at Carvosol Villas, they might be the management company that looks after number 3 as it's about a 2 min walk from their office on ADM. If it's not theirs then he will almost certainly know who looks after it. email me for his mobile if you need it. Mike, Chislehurst.

[biffa]

Thanks Mike. Had a snoop round there yesterday. ADM is the proverbial ghost town at this time of the year. Such a shame with sun shining brightly yesterday (not todau though!). I went to the Reception but shut by time I was there. PM me the mobile will you and I will give them a try tomorrow.

Prosecom have an alarm at the place so I could always try them for a contact.

Martin - the Finanças database was insufficiently developed in 2003 to allow them to tax offshore held homes at 2%. I know of only two companies that received 2% out of the thousands we deal with. It is now very strongly rumoured from the tax office themselves that the 2% may simply be swept aside! Also that the 5% may suffer same result at least initially. Keeping an ear to ground I have heard of a high level Government meeting that has now decided the 5% is probably not such a great idea! Some houses in Qta do Lago would have such a high rate payable it would be cheaper to move into the Sheraton on full board!

It is a bit strange that some offshore held homes owned by "high ranking" Portuguese owners have simply ignored all this offshore stuff and done nowt!

[Guest]

thanks for the information.

martin