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 of owning a French property. It is advisable to consult a tax professional to understand the tax obligations associated with owning property in France. You should familiarise yourself with French inheritance laws, as they differ from those in other countries and are different here.
Property Surveys in France
The seller must provide certain compulsory certificates and reports at their own expense. These will cover things such as lead, asbestos, termites (depending on the area), energy performance (DPE), and a SPANC report, which will indicate 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 could potentially step into the purchase process.
The Role of a Notaire
In France, a Notaire handles most of the conveyancing tasks commonly carried out by a solicitor in the UK. These include local searches and the preparation of the compromis de vente, as well as the exchange of contracts. He will also collect any taxes due. The Notaire acts on behalf of both seller and purchaser, but it is the buyer who 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 any property owned in France and specify that the estate of a deceased person is shared between his/her children. Please seek specialist advice, particularly if the house is jointly owned.
French Tax and Law
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