Hi Wanomore,
I in no way want to disparage any of Tommy's remarks as I see nothing wrong with them. I'm not a legal expert either so I can't answer your question for you definitively. However, I have done some research into buying property in Budapest and also throughout Eastern Europe (Romania, Bulgaria etc...). I haven't bought anything however because I was slightly put off the idea by some people, including a property developer who is presently building in Budapest.
Anyway, my point is this. In my own personal opinion (for what that's worth), I don't think there's anything underhanded or illegitamate about buying property under the guise of a registered company. As far as I can see it is perfectly legal. You register your company in that country, then you, as a company, buy property! I really don't think that the Hungarian government will ever take a dim light on this because you are not breaking any laws.
Furthermore, there has been foreign investment in Hungary for quite some time now so you would imagine that if the Hungarian government saw this as a loophole they would have closed it by now. I personally believe that the reason for this is that there is too much red tape involved in buying as an individual.
Also, and again I stress - for what it's worth, I was offered a mortgage from Raiffessen bank in Budapest and they themselves pointed out to me that I would have to set up a company before I could buy property. Bank Managers, in this country at least, will rarely offer advice that requires you to break the law.
Obviously, Tommy's advice is sound, as you would seek legal advice before purchasing abroad anyway. But as for there being any danger to your property in the future, I would be very surprised if this was the case as it is the same procedure for most Eastern European countries.
Piggy.