Luxury Property Cannes
My wife and I are taking into account consuming a house in France. We both have children from a previous marriage. What matters should we be taking into consideration once we buy?
First issues first. In France there is no such work as a French property consultant. You will find assets agents (agents immobilier) who might as well offer to do more on your behalf than simply assist you buy your French house, but that is it. A French real estate broking service is a qualified, licensed individual, virtually invariably well coached and highly professional.
The very first is to identify who you would like to own, and have use of, the property on each death. You'd will have to evaluate this within the round, taking under consideration how the remainder of your estate is to be distributed on death. It's best then consider even if you will probably be restricted legally in which sort you want to achieve.
For a start, a French property consultant, operating in France, probably won't sell you a house. It's totally illegal. That's not to say they can not help you discover a place however they have to not act as an agent.
A bit of commons sense goes a long way
Budget realistically: buyers quite often beneath estimate the cost of restorations. Determining the right French builder can likewise turn into difficult, you will find that building costs are above you expect. All the time seek independent assistance prior to acquiring property abroad and make sure you've any legal documents translated this means you know which sort you're signing.
Your legal adviser ought to make clear all of the consequences of tontine proprietorship and the circumstances in which an assault could be made on the tontine clause. For example, an argument could come up over the validity of the clause in the event you and your spouse didn't make equal contributions to the acquisition price, saying you've used the tontine clause to disguise a present made up of just one to the other.
Taxe fonciere is paid by the property owner irrespective of even if you live there or overseas - however there exists an exemption for 2 yrs. for newly built properties.
Darline Andrado is our guest French Property expert.