When purchasing property in France, it is crucial to consider several essential factors. For example, you should learn about the role of a Notaire and their responsibilities in the buying process.
Additionally, it is essential to understand the tax implications for homeowners in France. It is advisable to consult a professional to understand the tax obligations associated with owning property in France. You should also aim to familiarise yourself with French inheritance laws, as they differ from those in other countries.
Property Surveys in France
The seller must provide compulsory certificates and technical diagnostic reports (DDT) at their own expense. These will cover lead, asbestos, termites (depending on the area), flood risk zones, energy performance (DPE), and a SPANC report indicating whether the septic tank meets the latest environmental hygiene standards. French mortgage providers rarely insist on a structural survey.
Pre-Emption Rights
The laws governing property ownership in France vary depending on the type of property and the amount of land it encompasses. If the property has more than one hectare (over 2 acres), you may hear from the SAFER, who may step into the purchase process.
The Role of a Notaire
In France, a Notaire handles most of the conveyancing tasks that a UK solicitor would. These include local searches and the preparation of the compromis de vente, and the exchange of contracts. He will also collect any taxes due.
The Notaire acts on behalf of both the seller and the purchaser, but the buyer pays the legal fees. Ask your agent if they work with an English-speaking notary.
Inheritance & Succession Laws
Inheritance Laws in France generally take precedence over UK law for property owned in France and specify that a deceased person's estate is shared between his/her children. Please seek specialist advice, particularly if the house is jointly owned.
French Tax and Law
Our tax partners can assist with every aspect of buying or living in France, taxation, wealth tax, succession and trusts.
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