Real estate lawsuit

Elderly homeowner cheated out of 900,000 euros?

The sale of this lakeside guesthouse is a matter for the courts.

(Bild: Fellner Klemens)

Two lawyers, a notary and three people from the real estate industry will stand trial in Wels from June 12. They are alleged to have tricked an elderly lady into selling her property at a price that was far too low. The owner is believed to have been cheated out of around 900,000 euros.

The public prosecutor's office accuses the defendants of serious fraud. A verdict is not expected until a later date.

According to the court, the real estate company paid 750,000 euros for the property on Lake Traunsee, although the market value was 1.66 million euros. According to the accusation, the owner was no longer legally competent at the time - in the fall of 2019. Two lawyers and a notary, the two managing directors of the real estate company involved and a real estate agent have been charged with this offense.

Sentences of up to ten years in prison
If convicted, they face between one and ten years in prison. In addition, an association action has also been brought against the real estate company, which could result in a fine.

The judiciary is expecting the first day of the trial to attract a large audience from the region. Further trial days have already been scheduled for June 13 and June 27, but it remains to be seen whether there will be a verdict by then.

Similar case in Pasching
The Public Prosecutor's Office for Economic Affairs and Corruption (WKStA) is currently investigating a strikingly similar case involving damages in the millions: a lawyer and a notary are suspected of having persuaded a woman suffering from dementia to sign contracts in 2022 to transfer her entire agricultural estate in Pasching to her nephew - although she is said to have previously fought against him receiving anything from her in a legal dispute that lasted years. The "Krone" newspaper reported that there were also allegedly cases involving a property in the Innviertel region.

A psychiatrist is also being investigated in the case, who is suspected of having prepared an expert opinion on the woman's mental state and has since been remanded in custody, as well as the nephew. There are likely to be overlaps with the case at Lake Traunsee, even if the investigators are keeping a low profile for privacy reasons.