LEGAL
English will, for example, would be suffi cient. It will be important to ensure that your existing will is suitable; it may be preferable to update this, to replace it with a French will, or to have both UK and French wills. Everyone’s personal situation will be slightly diff erent, so expert cross-border advice is important. That advice would not only take account of a person’s wishes in relation to their estate, but also to the implications of inheritance tax, which can present some surprising consequences. While in many cases the ability for a
might not accept the addition of extra conditions in the contract, of course.
PLAN FOR INHERITANCE Another point that would require clarifi cation in advance of the property sale completing relates to the implications of French inheritance law and tax. The importance of this topic cannot be underestimated. You may be aware that in accordance with
the terms of the EU Succession Regulation, it is possible to elect to apply the inheritance laws of your nationality to assets owned in another jurisdiction. It is not, however, suffi cient just to presume that your existing
non-French person to choose to apply the law of their nationality to their estate in France can be benefi cial, it may well be that allowing French law to apply is perfectly suitable. Despite the economic, geopolitical and
health issues that have concerned us all over the past few years, it is clear that there is still a huge interest in buying a property in France, whether as a holiday home, an investment or permanent residence. Yet all of these overriding concerns make it even more important to ensure that you investigate the transaction thoroughly. Solicitors with an expertise in both French
law and the related UK inheritance law and tax matters should be of great assistance. ■
More on the web
More legal advice…
FrenchEntrée’s relocation pages are packed with information on every aspect of moving to France.
Find answers to questions such as: ‘Why do I need to consider the ownership structure of my French property’, ‘Will both the UK and France tax my French holiday home?’ and ‘Are homemade wills accepted in France?’ on:
frenchentree.com/french- property/law
Contracts
It is worthwhile noting that while a notaire will oſt en draſt the fi rst contract (usually the compromis de vente), this is not necessarily the case. Many agents are happy to draſt their own contracts – and some have professional contract-draſt ing teams. Whether draſt ed by an agent or notaire, the contract will need to be in French; while contracts oſt en have English translations, these are oſt en general and will in any event be declared as being for information purposes only and not contractually binding. It is for this reason that when we are instructed to review a contract, we will only consider the French version. Readers will be aware that the involvement of a notaire is
imperative. Advice from a fi rm of solicitors is not imperative but should be helpful. As their roles are slightly diff erent, the two professions should be able to work together rather than in confl ict. The notaire’s fees and all stamp duty and registration charges are payable by the buyer. Yet the notaire’s role is usually not to represent either buyer or seller, rather it is to ensure the transaction completes and is correctly registered
12 l Expert Guide
at the local land registry, with all taxes paid. The solicitor’s role is to act in your best interest: not just that the transaction is fi nalised come what may. Once the parties have signed the
contract, the buyer is entitled to a 10-day cooling-off period, during which they can withdraw without penalty, and without having to give a reason. This off ers protection for the buyer, allowing them the chance to refl ect on the purchase to ensure they are
comfortable with it. Presuming you do not decide to cancel the transaction,
the notaire will test the various contract conditions and carry out the pre-completion searches. These will include matters such as enquiring whether there are any charges registered against the property that would need to be cleared on sale, or checking with the local authority to see if any restrictions exist that may have a negative impact on ownership. Once these searches are cleared, the notaire can organise
completion. You can be represented at the meeting via a power of attorney, but it is preferable to attend if you can – especially knowing that you can collect the keys and move in.
© Shutterstock
© Shutterstock
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