Bitcoin Forum

If I wanted to spend my Bitcoins on a house that was for sale in the UK, would this be legal? As in, after I purchased the property and the person then said they did not receive the funds (lied), would that be game over (as it is somewhat anonymous)?. Are there any procedures that can guarantee you sent the funds to that person so the property is 100% legally yours?

Apologies if these are stupid questions, I haven't bought much with my Bitcoins, certainly nothing of any real value and I have never purchased property before.

I would do the transaction in person, recorded on film with multiple pieces of media with an affidavit signed and notarized on the spot and an attorney as a witness, you would be bulletproof imho.  Make sure the recording shows their bitcoin address has the record of the transaction and that you also show the transaction id on the recording.  Can't blame things on you if the transaction process is fully documented play by play.  If would take it a step further and have an attorney draw up a signed confirmation of receipt of funds to be signed immediately signed upon transfer of funds with 3 confirmations. 

Thanks. I guess if and when the time comes, hopefully the law will be more clear behind this and will either 100% fully support this or not. It's not nice to enter a gray area when dealing with such a high volume of currency.

It's a complicated question! The only thing I know there are tax definitely

It will be very similar if you exchange for other property or commodity. Use lawyer obviously and the tax will be paid from estimated house value