| Buying
France Property - Legal Issues
Take independent advice!
The French legal system can be a minefield!
You would be well advised to contact a bilingual lawyer from
the outset – do this before you commit to any property!.
There are many pitfalls that a prospective buyer can encounter
when buying a home in France and there are also ways in which
a legal advisor can structure the purchase which is beneficial
to the buyer.Examples, buying in single, joint or multiple
names or through a French property holding company called
a Societe Civile Immobiliere (SCI).
Some firms
have French lawyers working for them in the UK and other UK
law firms have offices in France. This is ideal as the process
is complex and you really need to know that you have fully
understood what you are getting into.
The notaire
acts on behalf of the Government and his fees are set in stone,
on a sliding scale according to the price of the property.
Their prime concern is registering the sale, ensuring the
conveyancing is taken care of according to law and collecting
the relevant taxes on behalf of the Government. Notaires
do NOT act on behalf of either the buyer or the seller. Therefore
it is important that you have good representation and that
you do so early on, as the initial contract (or compromis
de vente) in France is binding after the 7 day cooling off
period.
We recommend
that you find a solicitor BEFORE you go to France.
A good
lawyer will review the sale agreement, verify titles and carry
out other checks to ensure that you’re protected. They
will help you understand the 2 taxes: the taxe d’habitation
and the taxe fonciere, and ensure you understand
how the property is registered with the land registry in France.
There are a number of precautionary clauses you can insert
in the the clauses suspensives and you need to make
sure that these are all included in the initial agreement.
Your lawyer
is also liable to investigate that the property is free and
clear of any charge, lien, mortgage, and especially of estate
taxes (viz. land property and inheritance) or municipal taxes,
damages to neighbouring owners and so forth. This investigation
is the guarantee that the Title Deed of Ownership and the
relevant certificates issued by the land registry indicate
that no third party claims of any kind exist.
If you
would like us to put you in touch with an iIndependent UK-based
or France-Based solicitor that focuses on France property
purchases, please fill out our resource
form.
For more
information on the legalities of buying in France get the
France Buying Guide!
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