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1. In fact a notaire will compile a complete dossier before any property asset a lat a house or a plot of land is sold regardless of the size of the transaction our notaire calls this phase the preliminary formalities Once the deed of sale has been signed there are more tasks to be completed the post sale ormalities The most important is registering the sale at the mortgage registry This is when the deed is published in the land register and the notaire Submits the fees and taxes paid by the purchaser when the deed is signed incorrectly known as notaire s fees to the tax authorities In addition the notaire provides copies and abstracts of the deed of sale to various public agencies the cadastral authorities the mortgage registrar One copy in particular known as the certified copy and signed by the notaire will be returned to his or her office duly stamped by the tax authorities This document is your certificate of title Don t forget that the notaire will keep the original copy of the certificate in his or her offices for one hundred years at which time it will be turned over to the archives of the territorial department he notaire must comply with some strict requirements when performing these asks after the sale The certificates that he or she prepares are added toa ueue at each relevant government agency These agencies process millions of certificates every year and each one is ri
2. DOCUMENTS ANGLAIS The balance in excess of the allowance is taxed at progressive rates from 5 up to a maximum of 40 For more remote family members and others smaller allowances are given and higher rates of tax will apply Generally the tax ranges from 35 to a maximum of 60 Broadly the rate of tax that is applied to gifts is the same as for inheritance tax What exemptions may apply The most important relief from inheritance tax are the intemational tax treaties that provide relief from double taxation There are some other limited exemptions from inheritance tax but these exemptions are subject to specific conditions being satisfied HAUT DE PAGE Capital Gains on Real Estate Tax on Capital Gains on the Sale of Property in France The following summary states the law for gains realised after 1 J anuary 2004 on the Sale of real estate that is land and property For gains realised before this date other rules apply Bilateral and connected sales are not considered below and are subject to a different regime What follows is no more than a summary of some of the key elements When will it apply Capital gains made on the transfer of ownership of the property are subject to French tax and social taxes the CSG and CRDS A transfer of ownership will be a disposal of the asset by sale or an exchange for shares in a company The notaire instructed to act in the transaction is a public official He will act as the tax colle
3. Transfer of the ownership of a bien immobilier real estate property The sale must always be dealt with by a notaire for it to be authentified from a legal point of view In practice the sale is preceded by an avant contrat pre contract promesse de vente unilateral or compromis generally drawn up by a professional Viager A sales contract for a bien immobilier real estate property where the buyer called the debirentier pays the owner the cr direntier for the duration of the latter s life an income also known as arr rage or rente viag re In addition to this rente viag re the d birentier may be expected to make an initial payment called the bouquet largely inferior to the real price of the property and arrived at by deducting the payments of the rente viag re The amount of the bouquet and the rente are calculated in accordance with three parameters the valeur venale market value of the property the life expectancy of the cr dit rentier and the yield of the capital invested It is preferable to use the services of a professional for this type of sale Haut du document file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 21 sur 21 07 09 2011 14 43 28 MEETING PEOPLE Retour accueil VOCABULAIRE FRANCAIS ANGLAIS JURIDIQUE PPPPEPPDIPPEEPP PPP Pr hr A l amiable am
4. file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 29 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS If you have chosen to purchase a home in France via the Soci Civile Immobilier or SCI and because the SCI is effectively a company you will need to e establish and register your SCI and e keep annual accounts These are some pointers on how to take care of the paperwork involved in running your SCI Accounting System e A French SCI is obliged to maintain its accounting in French based on the French Tax Code This means following the French accounting plan Note The average SCI holds family property and does not have much bookkeeping e It would under these circumstances be quite hard to maintain normal English or other accounting records and it would involve some training to be able to learn how to keep your books on the French basis It is often easier to use an accountant who works within the French system the cost of which is probably justified e The accounting of an SCI is not regulated as it is not normally used for commercial purposes You can obviously control your own accounts but this does not avoid the French accounting issues Accounting Obligations For an SCI to exist as a real company it must e keep regular records e prepare annual accounts e hold an annual general meeting of the members to approve the accounts e maintain statutory records in a legal registe
5. d marches n cessaires required procedures demeure stay d poser deposit d poser les statuts to register a company d poser sa demande de d claration en faillite to file a petition for bankruptcy d poser son bilan file a petition for bankruptcy d poser son bilan to file a petition in bankruptcy dette debt directeur commercial sales manager directeur d agence branch manager directeur financier financial director directeur g n ral managing director chief executive officer CEO directeur g rant general manager directeur directrice director manager direction management Direction R gionale du Commerce Ext rieur DRCE regional direction for foreign trade directoire board of directors dirigeant director manager dissolution d une soci t the winding up of a company documents annexes enclosures documents joints documents enclosed domicile place of residence domicile l gal official residence domiciliation domiciliation establishing an official business address Donation Life time gifts donn es data donner en nantissement to give something as security dresser le bilan to draw up the balance sheet droit law right droit civil civil law droit commercial commercial law droit commun ordinary law file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 11 sur 27 07 09 2011 14 43 30 MEETING PEOPLE dro
6. don t know what Currently means What does working knowledge mean What do you call this in English Could you say that again please Could you repeat that please Could you speak more slowly please Could you spell that please Could you write that down please file Cl Documents 20and 20Settings station Mes S cd 20notaires documents FICHES 20thematiques htm 15 sur 15 07 09 2011 14 43 31 CHAPTER 1 1 1b pCHAPTER 1 THE NETWORKing COMPANY pCHAPTER2 CATCHING THE WAVE pCHAPTER 3 MASTERING MAIL fw CHAPTER 4 NEWSGROUPS fWCHAPTER5 FORUMI CHAPTER 6 FORUM II P CHAPTER 7 TEAMWORKING I P CHAPTER 8 TEAMWORKING II AANA PROJECT CHAPTER 10 REPORTS file Cl Documents 20and 20Settings station Mes 20doc ents AUDRALANGUES cd 20notaires documents plantout htm107 09 2011 14 43 36
7. en sa faveur Renseignez vous aupr s de votre notaire a decision after the death of his or her spouse as best suits the survivor s interests In particular this decision will hinge on the number of children since he disposable portion of the estate i e the portion the survivor may receive rom the deceased spouse varies depending on whether the deceased left one two three or more children In other words regardless of whether there are children from a previous marriage gifts to a surviving spouse can enhance the survivor s rights Such a provision is also important in the event that the deceased has no children at he time of his or her death but one or both of the deceased s parents are still alive In this case the surviving spouse can acquire significantly broader rights hrough a gift which will place the survivor on a better footing with regard to his or her parents in law he law also improved the status of the surviving spouse when the deceased leaves neither descendants children grandchildren nor parents The survivor hen receives the entire inheritance unless the deceased has made a will bequeathing assets to another person But even then the surviving member of he couple now enjoys greater protection for the first time in the history of French estate law the new law designates the surviving spouse as a forced heir As such he or she will receive at least one quarter of the deceased s assets even
8. faut il tre en entreprise individuelle ou en soci t combien co te la constitution d une soci t et laquelle choisir que pr voir pour la retraite comment transmettre l entreprise et qui De nombreux aspects sont essentiels et doivent tre soigneusement tudi s avant toute d cision En particulier les choix juridiques de d part mais aussi ceux effectu s tout au long de la vie de l entreprise achat vente emprunt transformation fusion apport cession Il faut toujours tudier simultan ment les aspects financiers et techniques mais aussi et surtout les aspects familiaux juridiques et fiscaux souvent tr s li s dans notre l gislation La situation du propri taire d entreprise doit tre envisag e en m me temps que celle de l entreprise Avant toute d cision la situation personnelle familiale et patrimoniale de l entrepreneur et de ses ventuels associ s doit tre examin e Prenons quelques exemples Le fait que les associ s d une soci t soient membres d une m me famille peut influer sur sa transmission Les clauses d agr ment pour les cessions de parts sociales en tiendront compte La situation personnelle des associ s c libataires soumis un pacte civile de solidarit ou mari s sous tel ou tel r gime matrimonial influe galement sur le mode de fonctionnement de la soci t et donc sur la marche de l entreprise Dans certains cas associ s mari s entre eux il faut choisir la forme authenti
9. public limited company PLC soci t anonyme par actions joint stock company soci t civile non trading company soci t commerciale commercial company soci t d conomie mixte semi public company soci t d Etat state owned company soci t d exercice lib ral a company with a professional activity soci t d exploitation operating company soci t d utilit publique public utility company soci t de gestion management company soci t des conseils consultancy company soci t en nom collectif general partnership soci t en nom collectif partnership soci t fiduciaire trust company soci t immobili re real estate company soci t m re parent company soci t multinationale multinational company soci t par actions joint stock company soci t priv e private company soci t publique state owned company soci t transnationale transnational company solde passif debit balance file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 25 sur 27 07 09 2011 14 43 30 MEETING PEOPLE Statut status statut fiscal tax status statut l gal legal status statuts d une soci t memorandum and articles of association Articles of Incorporation US Succession H ritage Inheritance T Menu Terrain A plot of land Testament Will tierce personne third party tierce personne third party a person in a c
10. the professions architect doctor lawyer journalist etc for which a specific diploma is required profit profit profit brut gross profit profit de l exercice profits for the period profit net clear profit promesse unilat rale de vente offer to sell propri taire owner propri t property propri t industrielle industrial property patent rights prot t protest prud homme conciliator member of the industrial tribunal publicit obligatory publication of legal notice in an authorized newspaper file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 22 sur 27 07 09 2011 14 43 30 MEETING PEOPLE Q Menu qualification qualification qualification professionnelle professional qualification qualit function title position quittance receipt quittance d lectricit electricity bill quittance de loyer rent receipt R Menu radiation removal from a register deregistration radiation d office automatic removal radiation d office automatic removal from the register radier to delete to cancel to be removed from raison sociale name of company rapport d expertise expert s report RCS Registre du Commerce et des Soci t s register of commerce and trade r c piss written acknowledgement of receipt file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 23 sur 27 07 09 2
11. Country representative can offer help and guidance to make the application quick and painless So in summary obtaining a mortgage for a French property is generally not difficult especially with our help and will not stand in the way of you obtaining the dream apartment or villa you have always wanted on the French Riviera HAUT DE PAGE MORTGAGE REQUIREMENTS These are the basic documents to send following your mortgage application in France Reservation contract or the Compromis de Vente Personal details ie Copy of passport Last 3 complete tax returns or last 3 payslips with the P60 Any document showing you have the funds to pay for the percentage of the cost not covered by the mortgage for instance a bank statement e Last 3 statements of your personal current accounts e f self employed a professional Curriculum vitae e If you have other loans their depreciation schedules The French banks will only take into account a third of your actual income your assets and they will then make you an offer Please note that when buying a property in France with a mortgage there is an additional mortgage fee of about 3 of the loan The property is mortgaged or hypoth que But for upfront purchases the property is non hyphotheque or mortgage free BANK ACCOUNT IN FRANCE Opening a bank account in France is essential both to pay the monthly instalments on your mortgage to settle different bills related to your property and to
12. He or she can tell you about your options Don t hesitate to consult a notaire before making a ecision HAUT DE PAGE file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 12 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Le partage dans le divorce Division of assets in a divorce Le divorce signifie la fin du mariage tout le monde le sait Mais il signifie aussi la fin du r gime matrimonial Il entra ne la liquidation de ce r gime et le partage des biens du couple qui se s pare Qu est ce que le r gime matrimonial C est l ensemble des r gles de droit que les poux adoptent pour organiser leurs relations sur le plan financier pendant et la fin de leur mariage Il y a deux fa ons de le choisir La premi re par la signature d un contrat de mariage chez un notaire avant la c l bration du mariage On choisira un r gime de communaut si on d sire mettre en commun les biens et les dettes ou un r gime de s paration de biens si on tient l ind pendance et l autonomie ou encore un r gime combinant esprit communautaire et ind pendance la participation aux acqu ts Le contrat pourra tre adapt avec une grande libert la situation du couple par des clauses sur mesure La seconde mani re de choisir un r gim
13. cises une op ration d acquisition de construction ou de transmission d un lin certain circumstances the acquisition construction or sale of a building can immeuble s effectue dans de meilleures conditions tant juridiques financi res joe conducted more efficiently by an SCI from a legal financial and tax que fiscales Parlez de votre projet a votre notaire Seule une analyse standpoint Tell your notaire about your plans Only a comprehensive analysis personnalis e et approfondie permettra de dire si la constitution d une soci t lof your specific circumstances can determine whether a partnership is file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 25 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm est adapt e a votre situation En effet il ne faut pas devenir associ sans pr cautions et cr er une soci t dont vous ne saurez plus comment sortir ensuite Une rencontre avec votre notaire sera d autant plus utile que dans certains cas il est recommand de r diger les statuts par acte notari pour viter des remises en cause ult rieures notamment lors de la cr ation d une soci t entre poux ou entre h ritiers ventuels HAUT DE PAGE appropriate for you You should never enter into a partnership without taking ertain precau
14. de parts sociales La libert de d cision est alors moins grande Les associ s devront s entendre pour prendre les d cisions les plus importantes n cessiteront d ailleurs leur unanimit Une m sentente persistante entre associ s peut bloquer le fonctionnement de la soci t et nuire aux int r ts de tous Si l on a bien conscience des contraintes de la soci t celle ci peut constituer un outil efficace de gestion du patrimoine Elle permet d associer les enfants et So long as these constraints are borne in mind partnerships can be an les parents dans un achat immobilier r sidence secondaire ou maison de effective tool for asset management Children and parents can be included in a famille par exemple Plus tard la transmission de la part des parents aux real estate acquisition Such as the purchase of a second home or vacation enfants ou aux petits enfants pourra tre progressive par petites fractions et home Later on the parents share of the property can be gradually avec un co t fiscal mieux tal dans le temps Certains conseillers en ransferred to children or grandchildren in small increments with a tax burden d fiscalisation pr sentent la SCI comme un bon moyen de payer moins hat is spread out over time Some tax advisors suggest that an SCI is an d imp ts Ceci n est pas tout fait exact bien que dans certaines situations effective way to reduce your tax liability That isn t entirely accurate although pr
15. for a new property and 7 to 10 for an older one but again you will be advised of the costs when signing your reservation contract While you do not always need to consult a lawyer who charges about 1 It is also worth file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 4 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS remembering that when you are buying a property in France with a mortgage once you have been to the notary s office the remaining stage payments up to completion are made by the bank and carry the bank guarantee During this period you only have to make interest payments which currently on a mortgage of 190 000 amounts to as little as 450 per month or 15 a day Then when your property is complete you start making your full mortgage repayment as you enjoy the benefits of owning a property in France or of course you can sell and take your profit The actual process of applying for mortgages in France again is not difficult and usually takes at most 2 to 3 weeks but can usually be done even quicker If you are going the French bank route most of the application can be done by phone but you do have to visit the bank in France at least once in person before you go to the notary s The actual application form wherever you apply is very similar asking questions like date of birth current address income expenditure current mortgage employment etc and again your Coast amp
16. hey are able to undertake projects that would have been impossible for one person acting alone By purchasing a building as an SCI made up of numerous partners buyers can avoid the instability inherent in simple joint ownership However bear in mind that the building belongs to the partnership and not to its partners who merely own shares in the partnership There is consequently less freedom in decision making The partners must be able to reach onsensus in order to make decisions indeed the most important decisions ill require unanimity Lasting disagreements among the partners may paralyse the firm s operations and prove detrimental to the interests of all parties Dans une soci t civile les associ s sont responsables des dettes de la soci t dans la m me proportion que leur part dans le capital Ainsi dans une soci t de deux associ s ayant chacun la moiti du capital chaque associ sera responsable de la moiti des dettes de la soci t La confiance doit donc r gner entre les associ s mais galement avec le ou les g rants lesquels devront tre choisis avec soin En contrepartie une soci t permet d entreprendre plusieurs ce qui aurait t impossible seul Ainsi l achat d un immeuble par une SCI constitu e entre plusieurs associ s peut viter l instabilit d une indivision Toutefois il faut bien comprendre que l immeuble appartient la soci t et non aux associ s lesquels ne sont propri taires que
17. 33 07 09 2011 14 43 27 LEXIQUE Notariat Menu Notariat LEXIQUE Notariat Acte authentique Acte sous seing priv private treaty Administrateur de biens property administrator Agence immobili re estate agency Agent commercial Agent immobilier estate agent Assembl e g n rale de copropri t general assembly of the co owners association Assurance RCP Responsabilit Civile Professionnelle Civil and professional liabilit insurance Bail lease rental contract Bailleur Landlord the person who rents Bail commercial business lease Bail d habitation residential lease Bail professionnel professional lease Bien immobilier property Bon de visite proof of visit Carte professionnelle professional card Charges r cup rables reimbursable charges Commission Compromis de vente pre contract Conditions suspensives Suspensive conditions Conseil syndical co ownership association advisory body Contrat de location rental contract Copropri taire co owner Copropri t co ownership D p t de garantie Deposit Expert immobilier property surveyor Fisc related to fiscality file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 1 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Fiscal Fiscalit fiscality Frais d acquisition purchase charges Garantie financi re financial guarantee Hypoth que mo
18. Association de Gestion Agr e the CGA offers management and accounting assistance to commercial companies and artisans Membership in a CGA qualifies the company for reduction in taxes Centre Francais du Commerce Ext rieur CFCE French centre for foreign trade CERFA printed forms most often used by companies for officical paperwork certificat certificate testimonial receipt certificat d expertise expert s report certificat d immatriculation certificate of registry certificat d immatriculation registration certificate Certificat de mariage Livret de famille Mariage Certificate Certificat de naissance Birth Certificate certificat hypoth caire mortgage certificate certification witnessing of signatures cessation de commerce winding up a business cessation de paiements suspension of payments cessation des paiements suspension of payments cession transfer cession de bail transfer of lease cession de parts stock transfer cession bail lease back CFCE cf Centre Fran ais du Commerce Ext rieur CFE cf centre de formalit s des entreprises Chambre de Commerce et de l Industrie de Paris CCIP chamber of commerce and industry of Paris Chambre de Conseil court chambers Chambre des m tiers guild chamber Chambre des M tiers guild chamber of trade chambre syndicale employers federation charges fiscales tax expenses charges sociales social security contributi
19. HAUT DE PAGE Process of Purchasing a Property in Brittany France The process of buying a property a can seem daunting with the regulations and the language barrier We have tried to put together a simple guide to help you through the process of buying a property in France Inspections to be carried out by the Seller When selling a property in France the seller has to inform the potential buyer everything that he or she knows about the property Technical inspections must be carried out addressing a number of specific issues prior to the sale of the property Inspections Carried Out 1 If the Brittany property is co owned the surface area must be provided pursuant to the Carrez Law The seller must indicate to within 5 the surface area of the property and vouch for this accuracy for a period of one year after the sale Services of a professional are normally used to take these measurements 2 Since 1 September 2002 detached properties must be tested for Asbestos For properties in Brittany built before 1 July 1997 a test for Asbestos must be carried out This test must be carried out by an authorised insured professional 3 Depending on location two other tests may be required as well for termites and lead If a department is classified as termite infested a report must be provided by the seller carried out by a qualified insured professional With testing for Lead if any department is deemed at high risk for lead exposure properties construc
20. M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 8 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat property either under seing prive or drawn up by a professional The compromis de vente commits the two parties and it is usual for the buyer to pay a deposit in general 10 of the sale price when the document is signed Conditions suspensives Suspensive conditions Are contained in a pre contract promesse de vente promise to sell ona unilateral basis or compromis they suspend the execution of the contract in special circumstances The contract will not be effective should these circumstances arise For example a suspensive condition may concern obtaining a loan planning permission To be valid the suspensive condition must not depend on pure chance or on the will of one party Conseil syndical co ownership association advisory body Made up of copropri taires co owners designated by the l assembl e g n rale general assembly it helps the syndic co ownership association representative and supervises their management It is obligatory except if the majority of copropri taires co owners refuse it It often manages the small details and litigation in the day to day running of the co ownership property Haut du document file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 9 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Contrat de locat
21. Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 27 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm onstruction and the council tax on your residence A gift can also be ade in return for an annuity This can provide an invaluable Supplement to your retirement income constitue ainsi un compl ment de retraite pr cieux La donation simplifie l avenir Le bien ayant t transmis de votre vivant il n y aura plus de droits de succession payer votre d c s Elle permet aussi d viter les difficult s d un partage de succession D un Gifts can simplify your plans for the future When you transfer an asset commun accord avec vos enfants vous pouvez proc der au partage hile you re still alive you eliminate the inheritance taxes that anticip de vos biens ou d une partie seulement On parle alors de otherwise must be paid after your death This helps you avoid problems donation partage hat could arise when your estate has to be divided By mutual agreement with your children you can conduct an early distribution of all or just a portion of your assets We call this division by inter vivos gift Gifts can also bring significant tax savings especially if you are ransferring a business a farm or real property It s a good way to ransfer one or more assets under favourab
22. What is the difference between taxe fonci e and taxe d habitation e In simple terms taxe fonci re is levied from the proprietor owner of residential file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 13 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS properties situated within France Property is defined in quite wide terms and includes for example boats permanently moored for habitation e Taxe d habitation is also applicable to all residential properties but it is due from the occupant whether the occupant is the owner the tenant or a free occupant Occupation includes not only actual daily or regular use of the property but also if the tax payer has the possibility of occupation meaning the property is available for his occupation it is furnished and supplied with water and electricity even if it is only occupied on brief or occasional visits Who is liable to Pay e Taxe fonci re the owner of the property on the first day of January is responsible for paying the tax for that year e Taxe d habitation the occupant the owner or tenant of the property on the first day of January is responsible for paying the tax for that year If the tenant vacates the property during the year and fails to pay the owner remains jointly liable unless he notified the tax collector of the new address of the tenant How is the taxe fonci e calculated The tax base is determined by the
23. a complex subject and specialist advice should be sought One way of avoiding the effects of French Inheritance law is to set up a company for the purpose of buying the property Such companies are called soci t s civiles immobilieres or SCI If you own shares in an SCI which owns the property you can dispose of them in accordance with the law where you are domiciled This will not lead to the avoidance by your heirs of inheritance tax it merely means that you will be able to dispose of the property as you see fit An SCI is quite expensive to set up and expert advice should be sought before doing so Another way is to buy the property jointly or en tontine It is however extremely complex process which is extremely difficult to unscramble once set up It quite simply means that on the death of one partner the property passes to the survivor Whilst it mitigates the effects of French inheritance law it does not mean that inheritance tax can be avoided file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 10 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS HAUT DE PAGE Selling a Property in France Is there anything to consider before instructing an agent All property agents agence immobillier are required by law to be licensed and hold a carte professionnelle Most agents will be members of a professional association for example FNAIM which is the largest association Your agreement
24. a professional Garantie financi re financial guarantee Guarantees the commitment of the sums at stake in real estate transactions or in the activities involved in property management when these activities or transactions are carried out by a real estate professional The financial guarantee is obligatory for all real estate agents or property managers It is also different according to whether the professional is involved in transactions or management file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 12 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Hypotheque mortgage The mortgage is used to guarantee the payment of the debt contracted on areal estate property It allows the lender to have the debtor s property sold by legal means should they be unable to pay back due sums Haut du document Immeuble building See real estate property Indemnit d immobilisation Sum paid by the purchaser when the avant contrat de vente pre contract is signed of the type compromis or promesse as a deposit based on the sale price The amount varies but normally it is around 10 of the sale price of the property Indivision part share A situation where a property is owned by several persons without there being any kind of physical separation or division It is the case where there is joint purchase of a dwelling in an inheritance where the property has not y
25. ant small shopkeeper owner of a small business petits enfants grandchildren piece document piece administrative administrative document piece authentique original document pi ce d identit identity papers pi ce d identit proof of identity pi ce justicative written proof pi ce justificative documentary proof file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 21 sur 27 07 09 2011 14 43 30 MEETING PEOPLE pieces a fournir documents to be presented pieces jointes documents attached enclosures pieces jointes enclosures plus value capital gain PME Petites et moyennes entreprises small and medium size companies pouvoir power of attorney proxy pouvoir judiciaire judicial power pr emption pre emption pr sident du conseil d administration chairman of the board pr sident du directoire chairman of the board prestations sociales social security benefits Pr t Loan Pr ter To lend privil ge preferential right lien privil ge de cr ancier creditor s preferential claim privil gi privileged prix de cession transfer price proc dure collective collective action proc dure de faillite bankruptcy proceedings proces action at law law suit proces verbal P V report statement minutes of a meeting procuration proxy power of attorney Procureur de la R publique Public Prosecutor professions lib rales
26. aupr s du RCS judge appointed by the president of the commercial court to supervise the RCS juge commissaire official receiver juge comp tent judge entertaining jurisdiction juge consulaire judge in a commercial court tradesman judging his peers in a commercial court juge d appel judge in appeal juge d instruction examining judge juge rapporteur official referee jugement judgement decision award jugement d adjudication adjudication of forced sale jugement d claratif de faillite adjudication order jugement ex cutoire enforceable judgement file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 16 sur 27 07 09 2011 14 43 30 MEETING PEOPLE juridiction jurisdiction juridiction administrative administrative jurisdiction juridiction commerciale commercial jurisdiction juridique juridical legal jurisprudence statute law juriste legal counsel justicatif de domicile proof of domicile justiciable a person subject to the law within a jurisdiction justificatif documentary evidence justification warrant proof K Menu K certificate of incorporation with the RCS for one man business sole trader proof of registration with the RCS K bis certificate of incorporation with the RCS for companies proof of registration with the RCS L Menu file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 17 su
27. capital brought into a business apport en esp ces contribution in cash apports en nature contribution in kind apports en soci t assets brought into business capital file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 3 sur 27 07 09 2011 14 43 30 MEETING PEOPLE invested apposer to affix to place apposer Sa Signature to sign one s name apposer Sa Signature to sign one s name arr t de comptes closing of accounts artisan craftsman ASSEDIC Associations pour l emploi dans l industrie et le commerce employment agencies for industry and commerce assembl e meeting assembl e constitutive statutory meeting assembl e g n rale general meeting assembl e g n rale extraordinaire special general meeting assembl e ordinaire ordinary meeting assignation compara tre summons subpoena assigner to summon to subpoena association association partnership association a but lucratif profit making association association a but non lucratif non profit making association associ partner associ commanditaire limited partner silent partner associ en nom active partner associ g rant managing partner associ majoritaire senior partner associ principal senior partner assujetti a liable to subject to assujetti l imp t taxpayer assurance insurance attestation certificate testimonial attestation sou
28. checking account compte de liquidation realization account compte de r sultats profit and loss account comptes annuels annual accounts comptes approuv s certified accounts comptes d apport capital accounts condition suspensive suspensive condition conforme certified conseil advice counsel conseil d administration board of directors conseil de direction executive board conseil de surveillance supervisory board committee of inspection Conseil des Prud hommes conciliation court for labour disputes industrial tribunal file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 8 sur 27 07 09 2011 14 43 30 MEETING PEOPLE conseil des prud hommes labour arbitration board conseil en propri t industrielle patent lawyer conseil fiduciaire board of trustees conseil fiscal tax consultant conseil juridique legal adviser conseil juridique legal adviser conseil national du patronat francais French national employers federation Conseil Sup rieur de l Ordre des Experts Comptables national order of chartered accountants They can deliver a list of qualified accountants in the region Conseil Sup rieur du Notariat national order of notaries constat report constat d huissier affidavit drawn up by a bailiff constituer une soci t constitute a company to constituer une soci t to constitute a company constitutif constituent
29. constructibilit constructibility contrat agreement contract contrat d association deed of partnership contrat d assurance insurance policy contrat de bail lease rental agreement contrat de location rental agreement leasing contract contrat de location rental contrat Contrat de mariage Mariage contract contrat de nantissement pledge ageement contrat de soci t deed of partnership contrat notari deed of agreement drawn up and authenticated by a notary contrat sous seing priv private agreement made in writing but not witnessed and sealed private contract contr ler to check inspect convocation notification summons copie authentique authentic copy copie certified conforme certified true copy Co propri t indivise Tenancy in common cote classification mark reference number cote et paraphe mark and initial cotisation contribution cotisations sociales social security contributions Cour court cour d appel court of appeal cour de cassation supreme court of appeal file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 9 sur 27 07 09 2011 14 43 30 MEETING PEOPLE cour de renvoi court of appeal to which the cour de cassation refers cases after it has annulled a judgement given by a previous court of appeal cour des comptes revenue court CPAM cf Caisse primaire d assurance maladie cr ance debt claim
30. cr ance debt claim cr ance irr couvrable irrecoverable debt cr ance litigieuse contested claim cr ance privil gi e preferential debt senior debt the debt to be paid before all other debts cr ance privil gi e preferential preferred or secured debt cr ances exigibles debts due cr ancier creditor cr ancier hypoth caire mortgage creditor cr ancier privil gi preferential or secured creditor cr ancier privil gi privileged or secured creditor Cr anciers creditor cr ateur d entreprise entrepreneur cr ation creation setting up cr ation d entreprise new business start up cr dit bail leasing dans les d lais within the alloted time limit D Menu DAT AR D l gation l Am nagement du Territoire et l Action DDTEFP Direction D partementale du Travail de l Emploi et de la Formation Professionnelle Departmental agency for labour employment and professional training d biteur debtor d biteur hypoth caire the debtor d claration declaration statement file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 10 sur 27 07 09 2011 14 43 30 MEETING PEOPLE d claration de cessation de paiement declaration of bankruptcy d claration de conformit statement of compliance d claration fiscale tax return d cret decree d ficitaire deficit negative d lai time limit d marche step procedure
31. dans les zones d limit es par le pr fet comme tant contamin es ou susceptibles de l tre court terme La pr sence de tels insectes fait courir un risque important aux parties du b timent construites en bois car ils s en nourrissent La dur e de validit du diagnostique termites est de trois mois Dans le but de simplifier et de rendre plus efficaces ces obligations une ordonnance r cente du gouvernement vient de cr er un document unique regroupant un certain nombre d informations techniques le Dossier de Diagnostic Technique D D T En plus des informations d j en vigueur a l heure actuelle plomb amiante termites ce D D T contiendra des informations relatives l tat de l installation int rieure de gaz naturel l tat des risques naturels et technologiques et au diagnostic de performance nerg tique Ce document unique n entrera en vigueur que lorsque les d crets d application seront publi s Avant de mettre en vente un bien immobilier logement local commercial ou autre il est important de se renseigner aupr s de son notaire afin de conna tre exactement ses obligations Les sanctions en cas de non respect des r gles peuvent tre tr s lourdes N h sitez pas vous renseigner avant toute signature Given the legal consequences for the seller and the buyer s obvious interest in he matter it should be clear that these inspections are a necessity In most ases these materials present no immediat
32. demeurer dans l indivision Chaque propri taire appel indivisaire peut tout moment imposer l autre de vendre le bien pour en partager le prix Purchases through joint ownership are much simpler at least at the outset But joint ownership may subsequently prove more difficult than anticipated because such an arrangement is governed by a hard and fast rule every ecision must be unanimous Moreover don t forget that each owner is responsible for a portion of the debts arising from the joint ownership e g axes major building renovation etc Therefore you should assess the potential for differences of opinion before making such a purchase The purchase of a home on the basis of joint ownership usually involves two unmarried persons living as a couple which limits the number of participants In addition the legal framework governing joint ownership is only provisional French law lays down the principle that no one can be forced to remain in joint ownership Any joint owner may at any time require the other to sell the asset in order to share the selling price Il existe une possibilit de donner une certaine stabilit l indivision la here is one option for lending greater stability to joint ownership signing a signature d une convention d indivision A peine de nullit cette convention est joint ownership agreement This agreement must be made in writing in order to tablie par crit Elle d crit le bien ind
33. documents FICHES 20thematiques htm 10 sur 15 07 09 2011 14 43 31 FICHES Thank you I m delighted to accept ld like to invite you to have dinner with Thank you I d love to me Would you join us for a game of tennis BY Yeifiifite Would you like to come swimming Why don t you have lunch with us I d love to but I m afraid can t How about joining us Thanks a lot but I ve made another arrangement Menu OFFERS AND REQUESTS file Cl Documents 20and 20Settings station Mes S cd 20notaires documents FICHES 20thematiques htm 11 sur 15 07 09 2011 14 43 31 FICHES hank you open the window hat s very kind of you Do you want me to post the document for Declinin you A i hanks but please don t bother If you like can give you some help Would you like me to arrange a meeting hanks but that won t be necessary hat s very kind of you but l can Would you mind checking it Do you mind checking it No of course not Refusing think that will be difficult There isn t enough time I m afraid not I m very busy I m sorry but that s not possible I m leaving now I m afraid not Menu ASKING FOR INFORMATION Asking file Cl Documents 20and 20Settings station Mes S cd 20notaires documents FICHES 20thematiques htm 12 sur 15 07 09 2011 14 43 31 FICHES ld like some information about flights
34. et sont solidaires pour le paiement de l imp t et les ventuels contr les fiscaux ult rieurs En ce qui concerne les droits de donation les partenaires b n ficient d un abattement de 57 000 euros Au del l administration fiscale per oit des droits au taux de 40 jusqu 15 000 et de 50 pour le surplus Pr cisons qu en plus de ces r gles sp cifiques au pacs des dispositions plus g n rales s appliquent Ainsi le fisc oublie les donations apr s dix ans A l issue de ce d lai l abattement de 57 000 est nouveau disponible pour une nouvelle transmission titre gratuit Des r ductions de droits sont galement accord es en fonction de l ge de celui qui donne le donateur Plus on donne jeune moins il y a de droits payer Enfin pour les droits de succession la fiscalit est la m me que celle des donations l exception des r ductions en fonction de l ge qui ne sont jamais applicables aux successions N h sitez pas interroger votre notaire sur ce contrat qui ne doit pas tre r dig ni sign la l g re Demandez lui d analyser votre situation personnelle et patrimoniale afin de choisir la solution la mieux adapt e vos souhaits The partners are also taxed jointly for the wealth tax but in this case joint liability takes effect in the first year of the pact They both sign the return and are jointly liable for payment of the tax and any subsequent audits With regard to gift taxes
35. example the conversion of a rural worker s property to a holiday home but also less substantial work including the addition of a Swimming pool or a central heating system As a rule of thumb changes that require the grant of a building permit or a building file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 14 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS declaration must be reported to the tax authorities The changes may be exempt from tax for two years although that exemption can be lost or reduced in the case of late reporting How is the taxe d habitation calculated Itis also calculated by reference to the notional rental value of the premises as adjusted HAUT DE PAGE Are there any discounts or allowances The most common for taxe d habitation is for the principal residence and for dependent persons for example children also discounts are granted for the disabled aged and those on a low income There are limited allowances against taxe fonci e for new and reconstructed properties and for certain additions to existing properties What about payment Those who are liable to pay taxe fonci e or taxe d habitation are not required to file a yearly retum They will be notified of the amount by an avis d imposition which will state the amount due and the time for payment The tax bills are usually received towards the end of August and September for payment by October 15 and Novem
36. gale legal oblgation office automatically opposable opposable a fact that can be opposed ordonnance de r f r injunction order ORGANIC Caisse nationale de l organisation autonome d assurance vieillesse des travailleurs non salari s des professions industrielles et commerciales pension fund for non salaried industrial and commercial professions ouvrier worker file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 20 sur 27 07 09 2011 14 43 30 MEETING PEOPLE P Menu P V cf proc s verbal paiement payment paiement lectronique electronic payment via a computer paraphe initials parapher toinitial passif passive passif et actif liabilities and assets Passport Passport ID Patrimoine Patrimony signature closing PDG Pr sident Directeur G n ral General and Managing Director GB Chairman and President US p piniere d entreprises business incubators help for business start ups p pini res d entreprises business incubators Permis de construire Buildiing permission personne person personne autoris e authorized person personne morale legal entity corporate body personne morale legal entity corporate body personne physique natural person an individual perte loss perte brute gross loss perte en capital capital loss perte sur cr ance bad debt loss petit agriculteur smallholder petit commer
37. have two properties in France how do they decided which one is my main residence Normally it is where you are most of the time If in doubt it is where you claimed your reduction for taxe d habitation local rates as a main residence My house has various outbuildings which want to sell separately Are they exempt They can be if the outbuildings are next to and necessary to the main private residence The rules here are different from the UK ones An important condition for exemptions that the house must be sold at the same time as the outbuildings though not necessarily to the same person It is likely to be easier to have it exempt if it is seen as part of the garden rather than a building How does this tie in with UK CGT Itis likely that French CGT will be nil or far less than UK CGT There are other French CGT exemptions for instance for landlords of fumished properties who have owned them for 5 years You are taxable in the UK on any French gain if you are resident or ordinarily resident in the UK There are exemptions from UK CGT for non UK domiciled individuals who do not remit the sale proceeds to the UK Similar planning incidentally applies to avoiding UK income tax on the rental income from the French property Tax planning for UK investors who have seen sharp rises in French property over the last few years focuses on avoiding or mitigating the UK liability can assist here though the detail is outside the scope of this ar
38. him or her to estimate the additional costs you ll have to bear You an also have the notaire calculate any other expenses you should plan for if ou re applying for a loan from your bank for example Notaires provide a public service and are compensated at a set rate established by the Ministry of ustice and applicable throughout France Only your notaire can provide you ith precise information and detailed explanations HAUT DE PAGE La caution ne pas s engager la l g re Acting as surety Don t take it lightly Un enfant un parent ou un ami demande un pr t a sa banque ou loue un logement La banque ou le propri taire du logement donne son accord a condition qu il fournisse une caution Vous pouvez tre sollicit a cette occasion afin de rendre ce qui vous semble un simple service La situation est courante Pourtant il faut bien r fl chir et se renseigner sur l tendue de ses engagements avant d accepter En effet les r gles juridiques sont nombreuses et complexes Sachez que le r le de la caution consiste prendre la place du d biteur celui qui doit payer en cas de d faillance de celui ci La caution doit payer les mensualit s la place de l emprunteur ou le loyer la place du locataire Le cr ancier celui qui on doit payer peut ainsi se retourner contre la caution et m me faire vendre tous ses biens Ce syst me appel cautionnement personnel est tr s efficace pour ne pas dire brutal dan
39. if the deceased made a will leaving the estate to someone else e should point out that divorce or legal separation annul the surviving spouse s rights of inheritance even if these proceedings have no been ompleted at the time of the spouse s death In this case the surviving spouse has fewer rights than children and parents but receives precedence over brothers and sisters His or her rights are thus substantially enhanced but not adequately to ensure protection from all worries unless the deceased spouse provided for a gift or made a will in favour of the survivor Ask your notaire for more information HAUT DE PAGE file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 7 sur 37 07 09 2011 14 43 23 H ritage Inheritance Les avantages m connus des testaments The unrecognised benefits of a will file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Vous venez d h riter ou vous avez h rit II vous est peut tre difficile de faire face a cette situation Votre notaire fera le n cessaire pour la transmission du patrimoine et r pondra aux questions que vous vous posez par exemple qui est h ritier Quels sont les droits du conjoint survivant depuis la loi du 3 d cembre 2001 Quels sont les droits des cr anciers Comment disposer des biens de la succession
40. immeuble C est un bon moyen de transmettre un ou plusieurs biens dans de bonnes conditions en payant moins de frais et en choisissant le moment de leur paiement Afin d encourager une transmission plus rapide des biens entre les g n rations la loi fiscale pr voit une r duction sur les droits Enfin de nouvelles mesures fiscales facilitent la transmission des entreprises N h sitez pas contacter votre notaire Il tudiera avec vous la solution la mieux adapt e vos d sirs et vos moyens file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 28 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm HAUT DE PAGE Donner ses petits enfants Giving to your grandchildren s of 1 January 2003 each grandparent can present a grandchild with a gift of up to 30 000 without having to pay anything to the tax authorities Chaque grand parent peut donner a un petit enfant un montant de 30 000 euros sans avoir payer de droits l administration fiscale Au del de cette somme des droits doivent tre vers s au Tr sor public Leur montant est calcul en proportion du montant donn Ce pourcentage varie de 5 40 Il sont calcul s de la m me fa on que les droits de succession nything over 30 000 is subject to
41. is subject to the condition of obtaining finance Signature of the compromis de vente should not be taken lightly Before doing so Mr Brown should be absolutely sure that he wants the property and that he is aware of the contents of the contract he is signing Should the notary not speak sufficiently good English Mr Brown should ask for a translator or if the contract has been sent to him in the UK have it explained to him word for word in English It is usually at this stage that a deposit of 10 of the purchase price 5 when purchasing property off plan has to be made Payment by cheque which must be drawn on a French bank or bank transfer will normally be made to a notary and although some agencies with the correct insurance have the right to put a cheque into their own escrow account it is probably wiser to insist on making the payment to the notary whom you wish to act for you Mr Brown will receive a copy of the compromis de vente signed by both parties and from the date of reception he has seven days inewhich to change his mind At the end of this period the contract becomes binding and the transaction is now under compromis The owner cannot sell to anyone else nor change the price and if he refuses to sign the final document the purchaser can obtain a court order forcing him to sell On the other hand the purchaser can pull out without loosing his deposit if one of the clauses or conditions precedent inserted in the contract h
42. lightly so don t hesitate to direct any questions you may have to your notaire Ask him or her to assess your personal circumstances and assets in order to choose the solution that s best suited to your wishes HAUT DE PAGE file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 5 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Donation entre poux Gifts between spouses Votre donation entre poux est elle jour Is your provision for a surviving spouse up to date La loi sur les successions du 3 d cembre 2001 am liore les droits du conjoint survivant et modernise plusieurs dispositions du droit successoral Les nouvelles r gles s appliquent d une mani re g n rale tous les d c s intervenus compter du 1er juillet 2002 C est pourquoi si votre donation entre poux donation au dernier vivant est ant rieure cette date il est conseill de la soumettre votre notaire pour v rifier qu elle vous permettra de b n ficier des dispositions de cette loi D sormais la loi distingue deux situations en fonction de la pr sence d enfants issus du couple ou d une pr c dente union En pr sence d enfants issus du couple la donation entre poux permet d augmenter les droits en pleine propri t du conjoint survivan
43. may name an bien indivis vous pouvez tre redevable d une indemnit d occupation aux administrator who may or may not be one of the owners themselves If you autres indivisaires Par ailleurs sachez que si vous voulez vendre votre part lare the sole occupant of an asset that is jointly owned you may owe an un tranger a l indivision les autres indivisaires ont un droit de pr emption Il occupancy allowance to the other joint owners Moreover bear in mind that if faut donc leur proposer l achat par priorit en suivant une proc dure sp ciale you want to sell your share to someone other than a joint owner the other Enfin l indivision n est pas toujours une situation choisie volontairement C est owners have the right of pre emption Therefore you must offer them priority le cas chaque fois que vous h ritez avec d autres personnes on parle alors oncerning the purchase following a special procedure Finally joint d indivision successorale mais aussi si vous tes divorc et que la ownership is not always adopted by choice For example you may inherit an communaut n est pas encore partag e il s agit alors d indivision post file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 10 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm communauta
44. of justice manuscrit hand written marchand shopkeeper merchant marchand ambulant peddler itinerant merchant marque de fabrique trademark marque d pos e registered trademark m morandum memorandum m tier business trade mise en demeure formal notice summons mise en demeure de payer final demand prior to legal action mise en faillite adjudication of bankruptcy modalit s de r glement terms of payment modification modification change modification des statuts changes made to the articles of association moral moral N Menu nantissement collateral security pledging nantissement sur marchandises pledge of goods nantissement sur titres pledge of securities nom name nom commercial trade name nom de famille surname last name nom de jeune fille maiden name nom d pos registered name file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 19 sur 27 07 09 2011 14 43 30 MEETING PEOPLE nomination appointment non redressement non turnaround of a company failure to recover notaire notary He authenticates deeds draws up contracts and performs many of the functions of a solicitor GB or contract lawyer US Notaire Solicitor Notary public notari a document drawn up before a notaire or lawyer num ro d enregistrement registration number O Menu objectif de l entreprise corporate objective obligation l
45. on the inheritance of assets after the donor s death and gift tax applies to gifts made during the donor s lifetime When does the tax arise As a general rule e if the donor was resident in France at the time the gift was made or e if the recipient was resident in France at the time the gift was made or finally e if the gift comprises assets located in France then tax will be payable What is taxable Taxis payable on gifts or inheritance of worldwide assets However for the purposes of inheritance tax only tax is calculated on the net value of the asset after deduction of liabilities Further it is subject to the application of international tax treaties to prevent double taxation What is the rate of tax The available allowance and the rate of tax depend on a number of factors principally the recipient s relationship to the donor needs to be established to determine the recipient s personal allowance and the rate of tax payable by the recipient From the 1 J anuary 2005 all estates benefit from a general tax free allowance of 0 000 which is divided between the beneficiaries in proportion to their rights of succession In addition the beneficiaries will receive the following e An allowance of 76 000 for the surviving spouse and e an allowance of 50 000 for the parents and children of the deceased file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 17 sur 33 07 09 2011 14 43 27
46. ont lieu apr s le prononc du divorce en particulier lors de la proc dure pour faute Le juge prononce le divorce et les ex poux d m lent ensuite les cons quences juridiques et financi res de leur s paration Inutile d insister sur les inconv nients de cette proc dure mais c est quelquefois la seule possible Dans tous les cas plus on anticipe les cons quences de la s paration et plus il est facile de r gler les probl mes dans de bonnes conditions Si la situation du couple est tr s simple elle l est rarement la liquidation sera rapide Imp rative d s qu il y a un immeuble terrain appartement maison l intervention du notaire sera une aide pr cieuse dans tous les autres cas La loi a pr vu sa pr sence car il est l officier public sp cialiste du droit de la famille garant de l quilibre et de la s curit du contrat Il prot ge ainsi des mauvais accords N h sitez pas vous renseigner et le consulter d s le d but de la proc dure Enfin n oubliez jamais les in vitables cons quences fiscales de votre divorce et du partage de vos biens Votre notaire calculera avec soin les frais et les imp ts que vous aurez payer Adoption lear definite statement of the position It is absolutely essential to avoid having to go through the process again in the future he settlement and division of assets can be conducted before the judge issues a divorce decree In cases of divorce by mutual consent for exampl
47. other housing i e detached houses For any co owned housing the primary obligation is to provide its surface area pursuant to France s Carrez law This information is obligatory for condominium lots The seller indicates he surface area of the property for which he or she is responsible and must personally vouch for the accuracy of this figure to within 5 for a period of one ear after the sale Therefore it is strongly recommended that sellers retain he services of a professional to measure these dimensions Don t forget that if ou neglect to provide the surface area of a condominium flat the sale may be invalidated surtout les jeunes enfants qui peuvent avaler des clats de peintures au plomb The other inspections required of any residence whether jointly or singly ce qui peut entra ner une grave maladie appel e saturnisme Au moment de la owned will depend on its date of construction and the territorial department in hich the building is located The most common of these is testing for asbestos which is required throughout France However this requirement applies only to buildings for which the building permit was issued prior to 1 July 1997 Since 1 September 2002 detached homes must be inspected before any undertaking to sell can be signed An authorised insured professional must test for the presence of asbestos in any form and report on its findings Bear in mind that if no report is issued the seller is liable for any asb
48. pas de le vendre Dans ce cas le montant de la vente est galement insaisissable s il est utilis dans un d lai d un an pour acheter une nouvelle r sidence principale Lors de l achat grace une simple d claration de remploi des fonds et d insaisissabilit dans l acte d acquisition le nouveau logement restera insaisissable hauteur de la somme provenant de la vente du pr c dent logement Ne passez pas c t d une mesure profitable pour vous votre entreprise et votre patrimoine en g n ral Consultez votre notaire sp cialiste du patrimoine et de la famille il vous informera sur les avantages offerts par la loi he Law on Economic Initiative of 1 August 2003 is designed to make it easier o Start and transfer a business Under this law any natural person who is self employed may have a statement prepared by a notaire and filed with the mortgage registry stipulating that his or her primary residence may not be seized This protection applies to debts incurred in the course of one s business The value of such a provision should be apparent to any self employed worker tradespeople shopkeepers farmers professionals he same law establishes more favourable tax rules governing gifts of businesses and the sale of company shares exempts certain taxpayers from he wealth tax and offers new tax reductions for acquisitions of small and medium sized businesses hese provisions which come into effect on 1 Janua
49. revendication claim rez de chauss e ground floor first floor US RIB relev d identit bancaire bank reference identification RMI revenu minimum d insertion income support S Menu SA soci t anonyme public limited liability company SA joint stock company business corporation saisie arr t garnishment attachment file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 24 sur 27 07 09 2011 14 43 30 MEETING PEOPLE SARL Limited liability Company SCA soci t en commandite par actions partnership limited by shares scission the act of dividing separation division SCP d avocats non trading law firm SCS soci t en commandite simple limited partnership company service comp tent appropriate service Service du Casier J udiciaire criminal records servitudes easement servitude siege social head office registered office Signature signature Signature par procuration proxy signature signature made by an authorized agent SNC soci t non commerciale non trading partnership Soci t business company soci t a but non lucratif non profit organization soci t a capital variable variable capital company soci t a responsabilit limit e SARL limited liability company soci t a responsabilit limit e SARL private limited liability company soci t affili e affiliated company soci t anonyme SA
50. s death especially if he or she dies accidentally or prematurely Owners should therefore take due precautions Throughout the company s lifetime from its creation to its eventual transfer entrepreneurs need professional guidance to help them negotiate the maze of legal and tax issues involved Don t hesitate to contact a notaire who is familiar with all aspects of amily and estate law The comprehensive long term perspective provided by a notaire will help you organise your business assets coherently and in keeping with your personal objectives By seeking the advice of your notaire before making any major decisions you can avoid many an unpleasant surprise down the road Loi pour l initiative conomique rendez votre logement insaisissable The law on economic initiative Ensure that your home can t be seized file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 32 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm L entrepreneur individuel peut prot ger son domicile de ses cr anciers profes sionnels en le rendant insaisissable par une simple d claration notari e C est l une des facult s propos es par la loi du 1er ao t 2003 pour l initiative conomique dite loi Dutreil L insaisissabilit b n ficie aux personnes p
51. say why the project cannot be undertaken If you are buying a property for renovation and development particularly relevant to properties in more rural areas of France you are strongly advised to include a condition of sale clause clause suspensive in the compromis de vente the sale purchaser agreement which is dependent on the results of your operational CDU which has clearly specified the intended purposes of the structures Your notaire should be able to prepare your CDU application or direct you to an architect or surveyor who can The mairie must deliver your certificate within two months of your application Using a Planning Certificate Once you have your CDU you have two months to contest or change any of the details contained in the document Read it carefully when you receive it to check for errors After the two months have passed you will be unable to make any changes You will need to re start the process with a new application The CDU is valid for one year renewable on conditions Within this year you may e Present an application for a permis de construire building permit This is presented in accordance with the requirements permissions of the CDU Note For example if the CDU you applied for at the time of purchase notes that the property is for use as a habitation private home and you submit plans for a Gite complex your plans will be thrown out If the total surface area of all the floors of the pro
52. stake For the buyer the home is the environment in which he or she will live Notaires are there to help you take the necessary precautions and avoid often costly mistakes Their role is to help you purchase your home safely while also protecting the seller s interests L achat La vente Diagnostics immobiliers un dossier unique What inspections must be performed Le vendeur d un bien immobilier qu il soit un simple particulier ou un professionnel de l immobilier doit faire effectuer certains constats ou diagnostics par des entreprises qualifi es et titulaires d une assurance couvrant leur responsabilit L information due par le vendeur doit tre communiqu e a l acheteur d s la promesse ou le compromis de vente Aujourd hui ces diff rents diagnostics portent parfois sur la recherche de plomb dans les peintures parfois sur la pr sence d amiante dans les mat riaux de construction parfois sur la pr sence de termites parfois sur ces trois points la fois Le plomb dans les peintures la recherche de plomb dans les peintures n est obligatoire que pour les immeubles ou les parties d immeubles usage de logements construits avant le 1er janvier 1948 et situ s dans une zone risque d exposition au plomb Dans chaque d partement c est le pr fet qui d limite ces zones risque A noter lorsque les d crets d application de la loi du 9 ao t 2004 relative la politique de sant publique seront publi s le con
53. tax The total tax is calculated as a ercentage of the amount given This percentage varies from 5 to 0 The tax is calculated by the same method as estate tax n other words if you have three grandchildren you can give the ollowing amounts without having to pay a gift tax grandfather 30 000 x 3 grandchildren 90 000 grandmother 30 000 x 3 grandchildren 90 000 otal given by the grandparents with no tax liability 180 000 Autrement dit si vous avez trois petits enfants vous pouvez donner Sans payer de droits de donation grand pere 30 000 x 3 petits enfants 90 000 grand m re 30 000 x 3 petits enfants 90 000 Total donn par les grands parents sans verser de droits 180 000 N oubliez pas que cette possibilit peut tre utilis e tous les 6 ans car ear in mind that you can make such a gift every ten years since the tax l administration fiscale oublie les donations apr s 6 ans De m me si jauthorities forget gifts after ten years And if you don t use the entire vous n utilisez pas tout l abattement le surplus reste disponible pour une allowance the extra portion is still available for a second gift deuxi me donation his new allowance of 30 000 takes effect immediately for families Cet abattement de 30 000 euros est imm diatement applicable aux hat have already made one or more gifts In other words if you gave familles dans lesquelles une ou plusieurs donations ont d j eu lieu Par 1
54. the move It is useful for foreigners living in France French citizens living abroad and those who have property in several ountries It can remain confidential and may be written in any language ou may freely and easily change or annul a will under any circumstances French law protects the will s contents but in order to be valid the will must omply with certain requirements Feel free to ask your notaire for more information He or she will guide you towards the format that is best suited to our circumstances and concerns to ensure that your wishes are respected HAUT DE PAGE L Indivision oint ownership L indivision et ses dangers The risks of joint ownership file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 9 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm L indivision est la situation juridique dans laquelle deux ou plusieurs personnes Joint ownership is a legal situation in which two or more persons own the sont propri taires ensemble d une m me chose Beaucoup de biens peuvent same thing Many assets can be jointly owned movables such as a car or faire l objet d une indivision meubles voiture ou immeubles terrain real property land a flat a house When assets are purchased for joint appartement maison
55. valeur locative cadastrale It represents the notional annual rent if the property was let on the open market However the valeur locative is often substantially lower than the market rental value Every year the valeur locative is multiplied by a factor to reflect the national variation of prices For the last five years the resulting increase has been about one percent a year From time to time the tax authorities review the individual values of properties the last overall review took place in 1974 After relief for various allowances the net base is multiplied by the current tax rates as voted by the councils of the relevant r gion d partement and commune A collection fee frais de r et de recouvrement of 2 5 percent of the resulting tax is added for the State Two different rates are applicable for developed and undeveloped land called b i and non b i For residential property the developed area is the land on which the house and outbuildings are built plus a defined area of additional land surrounding the house A single property if large enough can therefore be liable to both taxe fonci e b i et non b i and either one or two tax bills may issued To accurately reflect changes in values the property owner must submit a declaration to the tax authorities with details of any material changes within 90 days of completion Changes include the construction of a building structural changes to an existing property a change of use for
56. 011 14 43 30 MEETING PEOPLE recouvrer une cr ance to collect a debt redressement turnaround recovery correction or adjustment of a business in difficulty r f r expedited judicial proceeding R gime matrimonial Tyoe of antenuptial settlement R gionale regional development agency registre register registre des actionnaires register of stockholders registre des salaires payroll registre des soci t s register of companies registre du commerce trade register r glement l amiable to settle an affair out of court reglement des cr ances settlement of debts r glement des successions death settlement relev d identit bancaire RIB information identifying one s bank account relev de d ch ance statement of forfeiture remplir to fill in remplir un formulaire fill out a form remplir une formalit to comply with a formality r pertoire de propri taire owners directory R pertoire des M tiers Trade Directory reprendre une affaire to take over a business repr sentant accr dit authorized agent repr sentant l gal legal representative reprise d entreprise takeover of a business reprise des affaires business recovery requ te request requ te de faillite petition in bankruptcy r siliation d un contrat cancellation of a contract responsabilit responsibility responsabilit conjointe et solidaire joint and several liability retraite retirement
57. 0Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 13 sur 27 07 09 2011 14 43 30 MEETING PEOPLE fonds capital funds fonds de commerce business forclusion foreclosure formalit s administratives administrative procedures formulaire form questionnaire frais fees charges frais d enregistrement registration fees Frais d enregistrement Registration Fee frais de liquidation liquidation costs frais juridique Legal fees fusion merger fusion horizontale horizontal merger fusion l gale statutory merger fusions et acquisitions mergers and acquisitions G Menu Garantie Sociale des Chefs et Dirigeants d Entreprise GSC unemployment insurance for entrepreneurs and company owners G om tre Land surveyor g rance management g rant manager managing agent gestion management GIE groupement d int r t conomique economic interest grouping greffe the registry office of the commercial court greffier registrar see fonctions du greffier guichet counter desk file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 14 sur 27 07 09 2011 14 43 30 MEETING PEOPLE H Menu H ritiers et ayants droit heirs and assigns H ritiers l gaux legal heirs honoraires professional fees Honoraires d agence Immob Agency fees honoraires et frais d experts Adjusters fees and expense huissier audiencier court usher huissi
58. 43 28 LEXIQUE Notariat A sort of pre contract signed by the seller and the buyer of a bien immobilier property It is advisable to have this drawn up by a professional There are two types of promise to sell contracts e La promesse unilat rale de vente unilateral promise to sell contract that commits the seller and not the buyer during the time period that must be clearly specified in the contract e La promesse bilat rale de vente bilateral promise to sell also called synallagmatique or compromis de vente that commits the buyer in the same way as the seller It is usual for the buyer to pay a deposit in general 10 of the sale price to guarantee that the contract be fulfilled Haut du document Propri t immobili re real estate property The possession of an immeuble that is to say land building premises share in a co ownership property share in a property company In France the owner benefits from the full ownership of assets including the land the earth the basement and the airspace needed to build the building according to the laws that cover each building area Water courses and the sea cannot be private property River banks and beaches are the property of the local councils R glement de copropri t co ownership file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 17 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat prop
59. 5 000 to a grandchild in 2001 you can give the same amount again ailleurs cet abattement est cumulable avec celui pr vu en faveur des in 2003 without having to pay tax Moreover this allowance can be handicap s Enfin il s applique aux donations faites aux arri re petits combined with the allowance for disabled family members Lastly it enfants lorsque ceux ci ont perdu le parent qui tait petit enfant du also applies to gifts made to great grandchildren who have lost the donateur arent who was the donor s grandchild De plus des r ductions de droits li es l ge des grands parents n addition you can benefit from tax reductions linked to the age of the donateurs sont applicables Depuis quelques ann es plus le donateur est grandparents making the gift For the past several years the rule has jeune celui qui donne plus la facture de droits diminue een the younger the donor the lower the tax bill The tax is reduced y 50 for donors under the age of 65 and by 30 for donors between file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 29 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm N h sitez pas interroger votre notaire il vous permettra de prendre vos the ages of 65 and 75 Above the age of 75 these is no reduction in tax Howev
60. 9 2011 14 43 31 FICHES Can take a message leave a message Could you take a message Could you ask her to call Peter Hall tell him that David Gates called Could you spell your name please What s your number please WELCOMING A VISITOR The journey here Did you have a good journey How was your flight Did you have any problems finding us How did you get here Are you here on business Work What do you do Where do you work What are you working on currently The weather What was the weather like in Madrid Travel and holidays Do you travel a lot Which countries do you visit Where did you spend your last holday file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 5 sur 15 07 09 2011 14 43 31 FICHES The visitor Where do you live Which part of the country city is that First impressions What do you think of the new plant Is this your first visit to London How long are you here for Sports and leisure What do you do at the weekends Do you play any sports News What the latest news on the election Is there any news about the conference Menu STAYING AT A HOTEL Booking a Hotel I d like to book a single room for 4th April double Arriving at a Hotel have a reservation Making requests l d like a room please Could have
61. A combien s l ve la facture fiscale Quel est le montant des frais Vous pensez certainement que le testament est r serv aux personnes g es ou malades Vous ne voulez pas parler de ce sujet pour l instant Cependant il est bien souvent le meilleur moyen de se prot ger surtout pour les personnes non mari es M me le pacte civil de solidarit est insuffisant pour prot ger son partenaire comme peut le faire le testament Mais qu est ce qu un testament et quoi sert il Le testament est un document crit par lequel une personne majeure prend des d cisions et pr cise ses volont s pour le cas o elle d c derait Depuis toujours le notaire officier public nomm par l Etat est votre service pour r diger ou vous aider crire et conserver votre testament Par testament on peut l guer un bien un animal o une somme d argent la personne de son choix conjoint concubin enfant ami ou association On peut aussi r gler des questions personnelles d signer la personne qui prendra soin de ses enfants en cas de d c s accidentel ou d cider de ses obs ques La loi offre une grande libert dans ce domaine condition de respecter certaines r gles juridiques pr cises Plusieurs formes de testament permettent de r pondre toutes les situations possibles Le testament authentique est le plus s r car il est incontestable II est obligatoirement re u en pr sence de deux notaires ou d un notaire et de deux t
62. ANGLAIS htm 21 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS suppliers A hard line will be taken here on the basis that the 16 tax is very low and UK owners are not paying the extra 10 French residents have to pay However there seems no reason to disallow costs incurred with bona fide British buildings and suppliers who provide an invoice with a British VAT number of it If you have any difficulties please let us know Do non French residents still have to appoint a French Inland Revenue approved tax agent to deal with their tax affairs when they sell Previously you had to do this and the notary held back money until your tax affairs were settled You also had to pay the tax agent s fees which people resented as he was really working for the French Revenue This was where arguments about deductions of bills for works often took place This has changed now If the sale is for less than 50 000 no tax agent is appointed You simply fill in form 2090 which the notary will have If the sale price is over 450 000 you still need a tax agent If you have owned the asset for more than 15 years there is no tax agent regardless of price What about a main residence HAUT DE PAGE This is exempt broadly as in the UK If the property is entirely residential but you run a business from it itis still exempt However if parts of the property are used exclusively for business purposes then only the private part qualifies for the exemption If
63. Divorce proceedings must be under way at the time of the purchase i e an initial application has been filed ith the court or a summons has been issued to the other spouse The spouses must then set a date for dissolution of the joint estate that is prior to he purchase date In each case the desired outcome i e exclusion of the asset from the joint estate will not occur unless the divorce decree is issued Otherwise the joint estate will not be dissolved and the purchased asset will be included in the estate Both spouses will have to authorise any future sale of the asset Therefore it s always a risk to purchase an asset during divorce proceedings if you were married under a joint ownership regime In contrast the process is very simple if you were married under the system in hich assets are maintained separately and there is no joint estate In this ase each spouse can conduct any desired legal transaction on his or her own without the participation of the other during both the marriage itself and he separation period Of course you should still take some precautions In particular you should verify that the pre nuptial agreement providing for separate estates does not contain a provision for partnership of acquests soci t d acqu ts under which property acquired during the marriage is owned jointly Before signing a purchase agreement or a promise to sell you should always ask your notaire to assess your situation
64. ENTS ANGLAIS Menu Notariat DOCUMENTS ANGLAIS Buying in France Mortgages in France Bank account in France Process of Purchasing a Property in Brittany France Inspections to be carried out by the Seller Inspections Carried Out Purchasing Property in France Pre Sale Agreement Suspensive Condition Completion Insurance Fees and Taxes Glossary of Terms Taxation in France Local Taxes Taxe d Habitation Tax Fonci re Personal Taxation Income Tax Capital Gains Tax Inheritance Law and Taxation Selling a Property in France French Property Taxes French Property Taxes What taxes are there French Taxes file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 1 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS French Taxes Wealth Tax Inheritance and Gift Tax What are these taxes Capital Gains on Real Estate Capital Gains on Real Estate Tax on Capital Gains on the Sale of Property in France French Property Capital Gains Tax FAQ French Capital Gains Tax New Rules for Property 2004 The Property Purchase Transaction in France What happens next SCI and Property Purchase What is an SCI Advantages of an SCI Disadvantages of an SCI The French Certificat d urbanisme Planning Permit The French Certificat d urbanisme Planning Permit Buying in France French administrative formalities are bound up in red tape and a property tra
65. INESS Cr er ou transmettre une entreprise conseils Starting and transferring a business Some recommendations e IINSAISISSABILITE DU LOGEMENT EXEMPTING HOMES FROM SEIZURE file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 2 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Loi pour l initiative conomique rendez votre logement insaisissable The law on economic initiative Ensure that your home can t be seized e REGIME MATRIMONIAL DU CHEF D ENTREPRISE Quel r gime matrimonial choisir Which marital regime should I choose e BAIL COMMERCIAL COMMERCIAL LEASES Le bail commercial un contrat capital The commercial lease A crucial contract Marriage Mariage file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 3 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Lorsqu ils n tablissent pas de contrat au moment de se marier hen spouses don t draw up a pre nuptial agreement they often les poux adoptent souvent sans le savoir le r gime l gal de subject themselves unk
66. L achat en indivision permet un financement un ownership financing maintenance and administration are all made easier entretien et une gestion a priori plus faciles La quote part de chacun dans le Each owner s percentage share in the asset is established at the time of bien est fix e lors de l achat Il existe d autres fa ons de se grouper pour purchase There are other methods for joining together as a group to purchase acheter un bien a plusieurs en cr ant une association ou une soci t par lan asset you can create an association or a company for example but exemple mais cela n cessite plus de d marches hese are more complex procedures L achat en indivision pr sente une grande simplicit du moins au d part En effet par la suite le fonctionnement d une indivision peut se r v ler plus difficile que pr vu Car toutes les d cisions doivent tre prises l unanimit c est la r gle absolue N oubliez pas non plus que chaque indivisaire est tenu d une partie des dettes de l indivision imp ts ou travaux sur le logement par exemple Le risque de m sentente doit donc tre bien valu avant un tel achat Le plus souvent l achat d un logement en indivision est effectu par deux personnes non mari es vivant en couple ce qui limite le nombre de participants Par ailleurs le r gime juridique de l indivision est provisoire La loi pose comme principe que Nul ne peut tre contraint
67. Usually the parties will meet at the notaire s offices to sign the acte authentique and pay the balance of the purchase price The notaire will use the money to repay the outstanding mortgages if any The notaire is a government official who will also act as a tax collector He will collect any tax that may be due before forwarding any balance of the sale price to you Tax may be payable if for example the property is not your principal residence there may be a liability to pay tax on any capital gain and you might be obliged to pay the fees of a tax representative repr entative fiscal HAUT DE PAGE French Property Taxes French Tax on Residential Property The two principal taxes on residential property are collected by the State for the benefit of the collectivit amp territoriales namely the local authorities of the R jion D partement and Commune What taxes are there e The principal taxes are faxe fonci re e and taxe d habitation Both apply to all residential property houses and flats These taxes are each assessed at an individual rate voted by each collectivit territoriale They vary in very substantial proportions from one location to another The commune rate of tax is often higher in main towns than in suburbs or small villages Before renting or buying a property it is therefore wise to request details from the estate agent or owner Property used for a business or profession is subject to taxe professionnelle
68. We don t use it as a greeting SAYING GOODBYE must go now We really must leave now must be off It was very nice meeting you Have a good trip journey really enjoyed meeting you too hank you flight hope so too hope to see you again look forward to Seeing you again file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 3 sur 15 07 09 2011 14 43 31 FICHES I m looking forward to our next meeting See you on the 2 August Have a good trip back next week flight back soon Thanking for hospitality Thank you for inviting us We ve had a wonderful time for everything It was really enjoyable very much for your hospitality really appreciated it Thanks a lot Everything was great Responding to thanks I m glad you could come enjoyed it found it interesting liked it Menu TELEPHONING Making contact Hello This is Jacques Chirac Sandra Brown Yes speaking I d like to speak to Mr Elstob Who s calling please Could speak to John Smith May ask who s calling please I m calling about the letter sent you Hold the line please I m sorry Mr Smith is in a meeting at present I m afraid he s busy at the moment she isn t here Leaving a message file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 4 sur 15 07 0
69. accueil notaire BTIIVAa LANGUES Enseignement des langues trang res m Fran ais pour trangers e Textes bilingues Anglais Francais e Documents anglais e Lexique immobilier e Lexique g n ral e Fiches Th matiques e Site Audra Langues e Networking Course Cours d anglais commercial en ligne e Outils Networking file Cl Documents 20and 20Settings station Mes 2 ts AUDRALANGUES cd 20notaires accueil 20notaire htm 1 sur 2 07 09 2011 14 43 20 accueil notaire Contactez nous file Cl Documents 20and 20Settings station Mes 2 ts AUDRALANGUES cd 20notaires accueil 20notaire htm 2 sur 2 07 09 2011 14 43 20 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Menu Notariat e MARIAGE e PACS Civil Solidarity Pacts Cons quences fiscales du pacte civil de solidarit PACS The tax implications of a civil solidarity pact PACS Donation entre poux Gifts between spouses Votre donation entre poux est elle jour Is your provision for a surviving spouse up to date e HERITAGE INHERITANCE Les avantages m connus des testaments The unrecognised benefits of a will L Indivision oint ownership Lindivision et ses dangers The risks of joint ownership Divorce Divorce Acheter un logement pendant un divorce Prudence Buying a home during a divorce Be careful Le partage dans le divorce Divis
70. an early moring call at 6 30 file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 6 sur 15 07 09 2011 14 43 31 FICHES Could have my bill please Can pay by credit card AT A RESTAURANT Recommending What do you recommend The Seafood is usually excellent here recommend the lobster Ordering I ll have the smoked salmon We ll ld like the roast turkey We d Could we have a bottle of mineral water Offering Do have some more What about dessert How about some strawberries Would you like a coffee file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 7 sur 15 07 09 2011 14 43 31 FICHES Accepting Yes I d like that Yes that would be very nice Declining Thank you but couldn t eat any more Thanking and responding Thank you for an excellent meal Not at all It was my pleasure Thank you for a lovely evening enjoyed it very much too Menu MAKING ARRANGEMENTS Making an appointment When would be convenient for you could we meet What time are you free would suit you es Tuesday suits me fine es that s fine es can make it on Friday No I m afraid I m busy then No lm afraid I ve got another appointment then next Tuesday 9 30 possible for you How about Friday What about t
71. ans enfants d une pr c dente union la donation entre poux permet d augmenter les droits du conjoint survivant Il faut aussi rappeler son int r t quand le d funt n a pas ou plus d enfant au moment de son d c s et qu il laisse son p re ou sa m re ou les deux Les droits du conjoint survivant peuvent alors tre sensiblement augment s par la donation le pla ant ainsi dans une meilleure situation par rapport ses beaux parents La loi a galement am lior la situation du conjoint survivant quand le d funt ne laisse ni descendant enfant petit enfant ni p re ni m re Le survivant recueille alors toute la succession sauf si le d funt a fait un testament au profit d une autre personne Cependant m me dans ce cas le conjoint survivant est mieux prot g d sormais car la loi lui attribue une r serve h r ditaire pour la premi re fois dans l histoire de notre droit successoral il re oit au moins le quart des biens du d funt m me s il existe un testament en faveur d une autre personne Pr cisons que le divorce et la s paration de corps mettent fin aux droits successoraux du conjoint survivant m me si la proc dure n tait pas termin e au moment du d c s Ainsi donc le conjoint survivant passe apr s les enfants et les parents mais avant les fr res et soeurs Ses droits sont donc nettement am lior s mais pas assez pour le prot ger de tous soucis sauf si une donation entre poux ou un testament est sign
72. apply to sales of private property as opposed to property used for business purposes Sales of property used for business purposes are taxed under the business capital gains rules regime des plus values professionnelles This is correct in most cases What is the position if you rent fumished property which is trade in France and are taxed under Micro Bic Are you within the new rules or the professional regime The new rules apply to you so long as you are not a professional landlord i e have registered with the Commercial Registry and generate a certain income The rules on taxing professional landlords have changed slightly for 2004 but essentially the property is still exempt from French CGT after 5 years of letting It is accordingly likely to be better to register as a professional landlord but advice in this area is essential What happens if have elected to pay income tax under one of the Real regimes rather than Micro Bic This depends on whether you have put the property on your balance sheet bilan If you have done this then you will pay CGT on a sale of the property under the professional CGT regime if not you are likely to be taxed under the new regime understand certain companies and trusts come within these the new Rules and the Shareholders or partners are taxed as individuals i e the company is transparent for tax purposes Which ones are they Things start getting a bit more complicated here which als
73. as not been fulfilled Otherwise he may be able to pull out but will almost certainly loose his deposit The notary will require two or three months from the signing of the compromis to prepare all the necessary paperwork before getting the parties together to sign the title deed acte definitive During this period it is wise to consult with the notary or a tax lawyer to decide what is the best way to purchase in order to avoid future difficulties for example with French succession law When both the parties have signed and Mr Brown has paid to the notary the remaining 90 or 95 of the purchase price as well as the notary fees the notary settles any debts the owner may have file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 3 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS typically to banks pays Coast and Country their commission and then gives the balance to the owner As of the final signature Mr Brown becomes the legal owner of the property and receives the keys Alistair Buchan General Manager Coast and Country HAUT DE PAGE Mortgages in France It is generally not difficult to obtain a mortgage to purchase your property in France and your Coast amp Country representative will be able to give you advice However there are certain things a potential buyer needs to know Firstly when you sign the reservation contract at the sales office you must have already decided w
74. ase other than the principals Tontine Tontine Descendants descent enfants Children transmission des donn es data communication travail work travail domicile work at home travailleur ind pendant self employed person Tr sor Public Treasury tribunal court tribunal de commerce commercial court tribunal de commerce commercial court tribunal de grande instance TGI Department district court tribunal des conflits jurisdictional court tribunal judiciaire judicial court U Menu UNEDIC Union Nationale pour l Emploi dans l Industrie et le Commerce national union for industrial and commercial employment URSSAF Union pour le Recouvrement des Cotisations de la S curit Sociale et des Allocations Familliales social security contribution collection office usine factory V Menu file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 26 sur 27 07 09 2011 14 43 30 MEETING PEOPLE valider to authenticate a document Vendeur Vendor vente domicile selling door to door vente judiciaire court ordered sale Vente Sale v rification inspection verification v rification d identit identity check v rification de cl ture year end audit v rification des comptes auditing the accounts v rification du bilan balance sheet audit v rification fiscal tax audit volume d affaires turnover sales figures file Cl Documents 20an
75. aspect of an estate and address the various factors that enter into a ransaction such as the estateholder s age and number of family members his or her objectives with regard to transferring assets and the relevant tax law This all inclusive view is part of the legal security that notaires provide for heir clients he notaire will work with you to assess your current situation in detail and an help to plan a future asset transfer And although no decision about your estate should be based on tax issues alone your notaire can incorporate hese concerns into your planning All of us have our own plans and goals that require specific attention and there are as many solutions as there are file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 26 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm en compte m me s ils ne permettent pas eux seuls de prendre une bonne d cision patrimoniale Les projets de chacun sont uniques et doivent faire l objet d une analyse sp cifique La diversit des individus impose la vari t des solutions Votre notaire le sait N h sitez pas le rencontrer individuals Your notaire is aware of this Don t hesitate to call for an appointment HAUT DE PAGE Transmission de son patrimoine Transferring an
76. ation winding up balance bilan d ficitaire balance sheet showing a loss bilan social social audit bilan actif statement of assets bilan passif statement of liabilities BODACC Bulletin Officiel Des Annonces Commerciales official bulletin of civil and commerical notices bordereau statement invoice bordereau de cotisation contribution receipt bordereau de quittance receipt bordereau de salaire wage slip pay slip stub brevet patent brut gross bulletin bulletin form bulletin d adh sion proof of membership form Bureau des Hypoth ques Mortgage Office file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 5 sur 27 07 09 2011 14 43 30 MEETING PEOPLE C Menu CA chiffre d affaires turnover sales cachet de la poste post mark Cadastre Land Registry Office Cadre manager executives caisse fund pay desk caisse d assurance maladie health insurance fund Caisse d Assurance Maladie des Professions Ind pendantes CANAM health insurance fund for professionals caisse d assurance vieillesse old age pension fund caisse de retraite compl mentaire supplementary pension fund Caisse de retraites pension fund caisse de s curit sociale social security office Caisse des D p ts et Consignations deposit and consignment office Caisse Interprofessionnelle de Prevoyance et d Assurance Vieillesse CIPAV inter professional pe
77. ber 15 e Penalties will be imposed for late payment It is possible to elect to pay by monthly instalments If you think the assessment is too high you can try to challenge it You can obtain information conceming the imposition of the tax by consulting the documents cadastraux at the centre des imp s fonciers You can also seek to obtain a copy of the fiche de calcul the calculation sheet to obtain the detailed calculation of the valeur locative See above for definition In most cases obtaining information and checking calculations is not easy e Reimbursements can be obtained if you are successful in justifying your claim What happens when sell or vacate the property If the property is sold during the year the seller and the buyer often agree to share the tax by a clause inserted in the conveyance deed and any preliminary agreement This is however a private arrangement which does not change the legal debtor of the file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 15 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS tax being the owner on J anuary 1 If the occupant changes during the year any private arrangement to share the tax with the new tenant although this is not common does not change the legal debtor of the tax being the occupant on J anuary 1 HAUT DE PAGE French Taxes Wealth Tax French residents the value of whose net assets exceed a certain level are liable t
78. come tax value added tax wealth tax capital gains tax and inheritance tax Individual situations vary considerably and it is best to seek specialist advice from a tax consultant who has knowledge of the French tax system Income Tax Non residents are obliged to make an annual return for income tax imp t sur le revenu if they receive income from letting property or from providing bed and breakfast accommodation If you become involved in the management of any lettings it may be possible to offset a proportion of your expenses against any income tax paid file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 9 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS in another country Even if you do not let your French home here is the possibility that the French tax authorities may seek to charge you income tax on 3 times the notional income from the property if you are a tax resident of a country which has not entered into a double taxation treaty with France Capital Gains Tax The CGT tax laws in France have recently changed and we will be updating this section shortly Inheritance Law and Taxation If you buy a property in France your ability to give it away or to leave it by Will is governed by French Law This gives your legal heirs entrenched rights to a certain proportion of your French estate This proportion is known as the Reserve Legale It is only the remainder the Quotit disponibl
79. cord les pupilles de l Etat et les enfants d clar s abandonn s Le consentement des parents peut tre recueilli par acte notari ou au tribunal d instance Les parents peuvent se r tracter et revenir sur leur accord pendant deux mois Si l enfant n a plus de parents c est le conseil de famille pr sid par le juge des tutelles qui doit donner son accord Pour adopter un enfant pupille de l Etat il faut obtenir un agr ment administratif L enfant adopter doit en principe avoir moins de quinze ans et tre accueilli au foyer du ou des adoptants depuis au moins six mois Si l enfant adopter a plus de treize ans son consentement est n cessaire Toutefois l adoption pl ni re d un enfant de plus de quinze ans est possible s il avait t recueilli avant cet ge par des personnes qui ne remplissaient pas les conditions pour adopter ou s il a fait l objet d une adoption simple avant l ge de quinze ans Attention il y a une limite d ge maximale car l adoption pl ni re ne sera possible que jusqu au vingti me anniversaire de l enfant Pour l adoption internationale il faut obtenir un agr ment administratif Si l enfant tranger adopter est mineur il faut que la loi du pays dont il a la nationalit permette l adoption pour qu elle soit possible en France En effet certains pays ne connaissent pas cette institution qu est l adoption Toutefois si cet enfant non fran ais est n et r side en France il ne sera pas n cessaire
80. ctor and will withhold the tax due on the gain What is a gain Put simply a gain is the difference between the original purchase price and the eventual sale price The costs and expenses of the purchase and the eventual sale and certain expenses incurred during the period of ownership can be deducted from the gain What is the position of residents If the taxpayer is resident in France for French tax purposes e again realised on the disposal of real property may have the benefit of allowances before being taxed at 26 this figure includes social charges CSG and CRDS at 10 And the position of non residents If you are non resident for French tax purposes file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 18 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS e But a resident of an EU member State a gain realised on the disposal of real property will be taxed at a flat rate of 16 e If you are a resident of a non EU member State the gain realised on the disposal of real property will be taxed at a flat rate of 33 1 3 Are there any reliefs or allowances Yes For French residents selling their home in France any gain might not be subject to tax if the property was their principal private residence In certain circumstances a gain made on the sale of a second home might also be exempt providing a number of conditions are satisfied including that the individual does not own a princi
81. cts et int grer les diff rentes composantes d une op ration telles que l ge du d tenteur du patrimoine la composition de sa famille ses objectifs en mati re de transmission la fiscalit applicable La vision globale du notaire contribue la s curit juridique dont b n ficient ses clients Il analysera avec vous toutes les particularit s de votre situation y compris dans la perspective d une transmission future Les aspects fiscaux seront pris diversit source de s curit face aux changements impr vus L quilibre entre hether your estate is large or small there is one golden rule to live by iversity provides security against unforeseen changes For example when our estate is balanced between financial assets and real estate you limit your potential for financial loss Some components of your estate can be designed o generate income while others are reserved for your personal use Perhaps ou have plans for the future a move retirement and you want to be sure that our assets are available to you two three or even ten years down the road our estate should be arranged so as to reflect these requirements he role of a notaire is to help you organise and transfer your assets Notaires iffer from consultants in estate management such as bankers insurers and independent estate planners in that they always take a comprehensive approach and provide follow up over the long term They will assess every
82. cumstances that we have deliberately omitted from this general summary HAUT DE PAGE French Property Capital Gains Tax FAQ file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 19 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS French Capital Gains Tax New Rules for Property 2004 How have the Rules changed Before 1st anuary 2004 the gain was computed by the French resident taxpayer and included in their annual Tax Return Form 2042 There was no deduction by the notary on completion and to a certain extent the French Revenue relied on the honesty of the taxpayer There was a special regime for non French resident taxpayers The notary dealing with the sale deducted 25 of the net gain made by non resident individuals and 33 1 3 made by non resident companies and paid it direct to the French Revenue There were regular arguments about whether invoices from non French VAT registered builders could be deducted in working out the gain The system has been simplified and both French and non French resident taxpayers are now broadly treated in the same way as non residents deduction by the notary on the sale What are the new rates The rate of Capital Gains Tax CGT for both French and non French residents who are residents of an EU county is 16 of the net gain If you are French resident you pay an extra 10 in French National Insurance making the effective rate 26 In other words non resi
83. d 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 27 sur 27 07 09 2011 14 43 30 FICHES Menu Notariat FICHES THEMATIQUES a MEETING PEOPLE a SAYING GOODBYE a TELEPHONING WELCOMING A VISITOR a STAYING AT A HOTEL a AT A RESTAURANT a MAKING ARRANGEMENTS m OPINIONS AND SUGGESTIONS a INVITATIONS OFFERS AND REQUESTS file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 1 sur 15 07 09 2011 14 43 31 FICHES m ASKING FOR INFORMATION m SOCIAL RESPONSES a ASKING FOR HELP AUTRES MEETING PEOPLE Introductions May introduce myself My name s Francis O Hara Can I m Claire Chazal May introduce a good friend of mine This is Jerry Adams Can ses Excuse me are you Jane Seymour Hello you must be Robert Redford l d like to introduce you to John Major Let me How do you do How do you do Pleased to meet you Pleased to meet you Please call me Elmer Then you must call me Gaston file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 2 sur 15 07 09 2011 14 43 31 FICHES Greetings Hello Edward Good to see you Nice How are you How are things How s the family Very well thank you Good morning afternoon evening We only say Good night when we are leaving
84. d heirship rule that applies to your hildren Don t hesitate to consult your notaire who can help you make he right decision in complete security HAUT DE PAGE Cr ation d entreprise Starting a business Cr er ou transmettre une entreprise conseils Starting and transferring a business Some recommendations file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 30 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Les propri taires d une entreprise individuelle commerciale artisanale agricole ou de parts d une soci t familiale SARL par exemple ou m me d actions d une soci t anonyme cot e en bourse ont des pr occupations communes Ils doivent en assurer la conservation et si possible le d veloppement Ensuite le moment venu il leur faudra aussi r ussir la transmission de l entreprise pour en garantir la p rennit et r cup rer leur investissement La cr ation et la vie des entreprises quelle que soit leur taille posent leurs propri taires des questions identiques comment obtenir le meilleur r sultat avec les moyens dont je dispose comment b n ficier d un financement performant avec les risques les plus faibles quelles garanties donner la banque ou aux fournisseurs faut il se porter caution de l entreprise
85. de communaut par contrat de mariage communaut universelle par exemple Pour viter ces difficult s peu de solutions existent La meilleure consiste acheter avec une d claration de remploi dans l acte d achat Cette technique suppose que l argent utilis pour l achat ne d pende pas de la communaut Il peut s agir d une somme donn e ou l gu e ou du prix de vente d un bien propre La d claration de remploi emp che alors l entr e du bien en communaut En dehors de la d claration de remploi on peut viter l entr e en communaut du bien sous certaines conditions Au moment de l achat la proc dure de divorce doit tre engag e requ te initiale d pos e au greffe ou assignation d livr e l autre conjoint Ensuite 1l faut que les poux fixent la dissolution de la communaut une date ant rieure l achat Dans tous les cas l effet recherch c est dire l exclusion du bien de la communaut ne se produira que si le divorce est prononc Dans le cas contraire la communaut ne sera pas dissoute et le bien achet en fera partie Sa revente n cessitera la signature des deux poux Acheter au cours de la proc dure de divorce constitue donc toujours un risque si vous tes mari s sous un r gime de communaut En revanche les choses sont tr s simples si vous tes mari s sous un r gime de s paration de biens En effet ce r gime permet chaque poux de proc der seul toutes les op rations juri
86. de the legal options available not just at the outset but over the entire life of the business purchasing sales loans conversions mergers contributions and transfers Potential or current business owners should always consider not only financial and technical factors but also and at the same time family legal and tax issues which are often closely interwoven in French law They need to plan for heir own future along with that of the business Before making any decision entrepreneurs should examine their personal and family circumstances and assets as well as those of any partners they may have Let s take a few examples When the partners in a business are members of he same family this situation may affect any transfer of ownership Provisions authorising the sale of company shares will take this into account The personal circumstances of the partners whether they are single in a civil solidarity pact or married under one of several marital regimes for allocating a ouple s assets will also affect the company s operating methods and hence its day to day workings In some cases for example when partners are married to each other the official notarial form must be used for the ompany by laws and for the sale of interests in the company in order to prevent unwelcome legal or tax consequences The terms of the entrepreneur s marital regime will influence the way the bank finances the lbusiness particularly with re
87. dents tax rate has been reduced by 9 which on the face of it should encourage more foreign purchasers in France and will probably drive up prices Once the 16 has been paid the non F rench resident individual taxpayer can have no further French tax liability From a tax perspective is French property attractive as an investment Yes very much so The popular perception of France as a high tax country is out of touch with reality In many cases France is a lower taxing country than the UK and from a tax point of view an attractive place in which to invest in property The problem for UK investors is that UK CGT rates are now much higher than French CGT rates as you will see from the example below What are the rates if you are nota resident of a EU country The rate goes up from 16 to 33 3 This is subject to any applicable Double Tax Treaty which may improve the position If you are not an EU resident and plan to buy a French property you need to think about a suitable EU and probably French vehicle to buy it in Does it matter if you are say an Australian national but a tax resident of the UK No for these purposes the test is tax residency There is however a surprising sting in the tail for non EU nationals who live in an EU country and buy a second home in France Under the new rules non French residents are exempt from French CGT on any sale of a property provided they have lived in it and been French tax resident for at least 2 years a
88. diques de son choix sans le concours de son conjoint pendant le mariage et lors de la s paration Bien s r des pr cautions sont tout de m me prendre Il faut notamment v rifier que le contrat de mariage de s paration de biens ne contient pas une soci t d acqu ts Dans tous les cas avant de signer un compromis ou une promesse de vente demandez votre notaire d analyser votre situation Il vous dira ce qui est possible N h sitez pas le consulter avant de prendre une d cision as your marriage lasts Any asset purchased by either spouse even separately is subject to the joint ownership rule in principle and therefore belongs to both spouses until the divorce is finalised Moreover the same problems arise for couples who adopted a regime of common ownership via a pre nuptial agreement e g universal joint ownership There are few ways of avoiding this difficulty The best solution is to include a statement of reinvestment d claration de remploi in the deed of purchase If this method is adopted the money used for the purchase must not be part of the joint estate It might be a sum that the buyer received as a gift or bequest or it could be the proceeds from the sale of an asset that the buyer owns exclusively If this is he case a statement of reinvestment prevents the asset from entering the joint estate There are other ways of ensuring that an asset is not included in he joint estate if certain conditions are met
89. e that you can freely give away by a lifetime gift or a Will To explain this complex situation it is probably best to give an example Say you are survived by one child then you can not give away any more than half your French estate either during your lifetime or by Will If you are survived by 2 children then this limit is reduced to one third and to one quarter if you are survived by 3 or more children Should you have no children then other members of your family may qualify as legal heirs and so enjoy entrenched rights to a proportion of the estate You cannot vary the share of your French estate which each of your legal heirs is entitled to take in their capacity as a legal heir but you can vary out of which part your legal heir can take their share A husband or wife is not a legal heir and has no right to the legal reserves French law does however allow you to make certain disposals to your spouse which go beyond what she would be entitled to if he or she were a mere stranger A lifetime gift of your French home or an interest in it will attract gifts tax droits de donation similarly on your death your French estate will attract succession tax droits de succession After various allowances which are decreasingly generous from spouses to children the tax is charged in a series of bands which are at the time of writing 5 for spouses children and parents rising to 40 on large assets 35 for brothers and sisters rising to 45 It is
90. e he divorce decree cannot be issued until the spouses have provided the judge ith a deed of settlement for their marital regime the planned division of their assets and a final decision regarding each aspect of their separation division of assets and debts alimony and child support compensatory allowance child are This may also apply to couples who opt for separate estates regardless of the divorce procedure they follow In other cases the settlement of the marriage and the division of assets take place after the divorce is finalised and particularly during the procedure to assign fault The judge issues the ivorce ruling whereupon the ex spouses untangle the legal and financial onsequences of their separation This process obviously has many rawbacks but it is sometimes the only option In all of these cases couples who try to anticipate the consequences of separation will find it easier to resolve any problems smoothly If the couple s ircumstances are very simple which is rarely the case the settlement can proceed quickly A notaire can provide invaluable help and is a legal requirement if real property such as land a flat or a house is involved Notaires are public officials specialising in family law and can ensure that the pre nuptial agreement is stable and secure They protect you against bad agreements Don t hesitate to inform yourself by consulting your notaire at the outset Finally always bear in mind that your divo
91. e you can designate the person who ill take care of your children if you die accidentally or you can make ecisions regarding your funeral French law offers broad latitude in this area so long as you comply with certain precise legal requirements here are several types of wills one for every conceivable situation A will in notarial form is the safest since it cannot be contested It must be heard in the presence of two notaires or a notaire and two witnesses The client dictates he will to the notaire who then reads the will aloud and everyone signs it except the client if he or she is unable to do so file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 8 sur 37 07 09 2011 14 43 23 l incapacit de le faire Le testament mystique rarement utilis pr sente l avantage de rester secret Le client le remet son notaire dans une enveloppe ferm e en pr sence de deux t moins Seul le client conna t son contenu Toutefois le notaire ne peut pas v rifier son efficacit juridique C est l inconv nient majeur de cette forme de testament Le testament olographe est le plus r pandu Document crit dat et sign de la main du testateur il est facile et peu co teux Cependant il peut parfois donner lieu contestations quand il n est pas r dig avec l aide d un juriste sp cialis Derni re forme le testament international adapt la v
92. e danger if they are found during he preliminary inspection Inspectors can explain the source of the problem and assure the safety of everyone involved These days it s especially critical hat the parties to any property transaction be fully informed before they undertake direct negotiations A preliminary assessment should be conducted by a professional with expertise in property law in order to determine the rights and obligations of the buyer and seller Don t hesitate to ask your notaire or more information HAUT DE PAGE Compromis ou promesse de vente mode d emploi Purchase agreements and undertakings to sell Some guidelines file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 18 sur 37 07 09 2011 14 43 23 Vous cherchez acheter un appartement une maison ou un terrain Ou vous avez d j trouv peut tre par l interm diaire de votre notaire le bien qui vous convient Vous ne voulez pas que cette opportunit vous chappe Il faut arr ter l affaire et signer avec le vendeur un compromis ou une promesse de vente De quoi s agit il Ces contrats constatent l accord du vendeur et de l acqu reur dans un cadre s curis lls sont valables en g n ral quelques mois Pendant ce d lai le notaire constitue le dossier de vente Il faut environ trois mois et parfois plus pour obtenir des administrations les renseignements et l
93. e matrimonial consiste ne rien faire Le couple est alors automatiquement soumis au r gime l gal de la communaut de biens r duite aux acqu ts Trop souvent il ne s agit pas d un vrai choix mais simplement d un manque d information Dans tous les cas quel que soit le r gime le divorce entra ne la liquidation et le partage En clair il faut faire les comptes en appliquant les r gles du r gime matrimonial On comprend mieux alors l importance de celui ci car le r sultat des op rations peut tre tr s diff rent d un r gime l autre Comment le notaire liquide t il le r gime matrimonial A l aide des renseignements fournis par ses clients il commence par lister leurs biens et leurs dettes ventuelles ce qui constitue l actif et le passif Ensuite il d termine les droits et obligations de chaque poux dans ces actif et passif Enfin il recherche un accord entre ses clients pour partager les biens et dettes Tout doit tre tudi et calcul pour que chacun reparte avec une situation claire et nette Il faut absolument viter d avoir y revenir Ces op rations de liquidation et de partage peuvent tre pr vues avant que le juge ne prononce le divorce C est le cas lors du divorce par consentement s everyone knows divorce marks the end of a marriage But it also marks the end of the marital regime r gime matrimonial When couples divorce their marital regime is dissolved and their a
94. e parties concerned In sales terms it can be considered to be the preparation for closing a deal also called acte prealable or avant contrat because it will then be replaced by a definitive contract The acte sous seing priv is often used in rentals Administrateur de biens property administrator A professional who looks after property management operations in the framework of a mandat There is residential building administration in a copropri t joint ownership property where the administrator has the role of the syndic co ownership association representative property management for owners or where the gestionnaire looks after rental management rent collecting paying charges maintenance repairs Haut du document Agence immobiliere estate agency A term that designates a business often a company whose role is to offer services and means for negotiation and advice on biens immobiliers property sale and rental advice for buying property estimations file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 3 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Agent commercial A representative who acts independently in their own right and without guarantee in the name of the party that they represent This status being more flexible than that of an employee means that it is often used in the field of property negotiation Agent immobilie
95. e partner then is only taxed at 16 not 33 3 This advantage should not be overlooked when structuring non EU property investment into France What happens if the tax transparent company has its registered office outside France If the soci de personnes has its siege outside France then this means tax at 33 1 3 is paid if the partner is not a EU resident individual You pay the 33 1 3 if you are not EU resident even if you are a EU national The tax position and different rates are summarised below have also indicated whether you need to appoint a French Revenue approved tax agent to finalise your affairs before the notary can release all the sale proceeds to you Taxpayer Rate French NI Tax Agent Y N Individuals 1 French resident 16 10 N 2 EU resident any 16 0 N if less 150 nationality 000 3 Resident outside EU 33 1 3 0 Dai Tax Transparent Company resident in France with gains taxed direct on individual shareholders partners 1 Partner French resident 16 10 N 2 Partner EU resident 16 0 N eae resident outside 16 0 N Tax Transparent Company resident outside France with gains taxed direct on individual shareholders partners 1 Partner French resident 16 10 N if less 150 000 2 Partner EU resident 16 0 aes ES nc 3 Partner resident outside N if less 150 EU 33 3 0 000 Non Tax Transparent Companies traditional UK opaque company taxation 1 Resident in France Applicable Corp tax rate N 2 Resident out
96. e property for example rights of way planning and any near by development If you are taking a mortgage the notaire will act for the lender and deal with the legal formalities as mentioned above he will charge a fee of 1 of the value of the loan Other points to consider Itis at this point that you may need advice on taxation and the French law on inheritance as the law may be very different from what you may assume might be the case You will need to consider how the property should be owned whether personally or through a French property company soci civile immobilier file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 27 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS These are not matters that can be postponed for consideration at leisure after the purchase as the tax consequences will have immediate effect It is not always possible to change an arrangement at a later date and even if itis a later change can be both difficult and expensive It is best to get advice at the outset What happens at completion After the conditions to the agreement have been met the parties attend in person at the notaire s office to go through the documents in French before the transfer document the acte authentique is signed The balance of the purchase price after deduction of the deposit is paid plus the tax and notarial fees You will receive a receipt for the purchase price and a document c
97. e region e g floods earthquakes Are there any zoning easements Does the home s drainage system comply with regulations Are there any businesses nearby that enerate pollution Every seller has a significant obligation to provide this information and is liable or failing to do so Such information should be provided to the purchaser when he preliminary agreement is signed So it s important to obtain the advice of a professional who specialises in property law before putting a property on the market Don t hesitate to meet with a notaire and above all don t sign anything before obtaining his or her advice Your notaire can offer assistance and help you bring your plans to fruition in complete security SCI file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 24 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Property investment partnerships SCIs L int r t de constituer une SCI he purpose of a property investment partnership soci t civile immobili re or SCI is to acquire or in some cases provide for the construction of buildings houses flats or entire buildings to be rented to third parties or provided free of charge to the partners An SCI must consist of at least two partners A written c
98. e same for all notaries but the latter gets a large share surprise surprise If an owner wants to impose his notary which is allowed under French law be aware that you have the right to choose your own notary who will work in collaboration with the owner s notary In fact it is quite common to have two notaries working on the same transaction with no additional cost to the purchaser as fees are shared However the delay may be a little longer due to the necessity for the two notaries to correspond with each other Let us take a hypothetical example of a property transaction Mr Brown has visited some properties with Coast and Country He decides to make an offer on a property listed at 300 000 Euros and informs Coast and country that he is prepared to pay say 280 000 Euros Coast and Country will normally require a written offer from the purchaser in order to be able to convince the owner to accept the offer Once the two parties have come to an agreement on the sale price the terms and conditions of the sale are discussed with the notary who then prepares the preliminary contract or compromis de vente This contract is just as important as the final document transferring title as it must contain all the clauses and conditions precedent to the sale These include clear title easements certificates stating whether the property conforms to current legislation on asbestos and other matters and most importantly whether the purchase
99. e votre titre de propri t Par ailleurs n oubliez pas que l original de l acte sera conserv par le notaire en son office pendant cent ans avant d tre confi au service des archives d partementales Pour l accomplissement de ces formalit s post rieures la vente le notaire respecte des formes strictes Ses actes prennent place dans les files d attente des diff rents services administratifs auxquels il a l obligation de s adresser Chaque ann e des millions d actes sont trait s par ces services o ils font l objet de contr les rigoureux Des d lais de traitement plus ou moins longs sont in vitables Sauf exceptions le notaire transmet l ensemble des documents aux diff rentes administrations dans les deux mois de la signature de l acte de vente Lorsque votre titre de propri t la copie authentique rev tue des cachets officiels est retourn e votre notaire celui ci effectue les derni res op rations comptables vous concernant et cl ture le compte ouvert votre nom en son office pour votre achat Si vous aviez trop vers lors de la votre titre de propri t Si vous n aviez pas assez vers le notaire vous demandera un compl ment Entre la signature de l acte de vente et la r ception de votre titre de propri t il s coule en g n ral de trois six mois N h sitez pas interroger votre notaire Il vous indiquera la date pr visionnelle laquelle vous recevrez votre titre de propri t
100. ed Purchase price 60 980 Purchase costs 457 475 is the default amount You may be able to 7 5 of 60 980 claim more Works 9 147 Default amount is 15 no proof needed 15 of 60 980 Otherwise very restrictive and need proof Amended purchase price 74 701 Gross gain 45 299 120 000 74 701 Reductions 5 years You deduct 10 for every year after the 5th So 5 x 10 50 x 45 299 after 15 years you pay no tax Fixed allowance 1 000 1 000 always deducted Net gain 45 299 22 650 1 000 21 649 22 650 French and EU residents pay 16 Non EU residents pay 33 1 3 National Insurance 2 165 Only French residents pay this Who works out the tax and pays it over The notary dealing with the sale He is required to complete a tax retum and work out the gain He pays the money to the French Land Registry and if there is a problem the land may end up not being registered There is accordingly a lot of pressure on the notaries and suspect in practice if they have any doubts they will hold back money due to the seller until matters are clarified It is up to you to give him invoices for works Although not in the legislation the notaries have been told not to allow as a deduction any invoices which do not have a French VAT number on them This is a problem for people who have informal arrangements with British builders and Taxed at 16 3 464 file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20
101. elating to zoning documents the mortgage registry the cadastral agency etc account for most of these costs here are numerous miscellaneous taxes Some are calculated as a percentage of the transaction while others are fixed amounts The most significant is the land registry tax also known as the tax on transfers without onsideration In our example this represents about 3 700 In addition there is the stamp tax assessed on each page of both the original notarial deed and he certified copy the purchaser s certificate of title calculated at 6 per two sided page in standard format Deeds these days are often lengthy and the stamp tax can run into the hundreds of euros To this is added VAT 19 60 n the notaire s compensation and the mortgage registry fees 0 10 on the price of the transaction file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 20 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm un tarif obligatoire fix par le ministre de la Justice et applicable dans toute la France Lui seul peut vous fournir une information pr cise et des explications d taill es banque Le notaire assure une mission de service public et se trouve soumis Before committing to a property transaction don t hesitate to contact your notaire Ask
102. ent tax laws to the sale of ordinary real estate Syndic de copropri t co ownership property representative This is someone who represents the group of copropri taires co owners It is often difficult for all the copropri taires co owners to act at the same time To represent them the syndicat that is to say the co owners association elects a syndic representative during an assembl e g n rale general assembly This is generally a professional who takes out insurance policies employs any personnel for the building acts on decisions made in the meetings supervises the application of the r glement de copropri t co ownership property regulations initiates legal proceedings and generally ensures that the building is managed correctly It is the representative who controls the funds of the copropri t co ownership property and looks after the accounting They are thus responsible for payment of charges and also look after the payment of suppliers Every year during the general meeting they justify and explain the accounts They can be elected for a period of one or several years Haut du document Syndicat des copropri taires co owners association This is a group that represents all the co owners in a building with the file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 19 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat status of copropri t c
103. er up until 30 June 2005 the gift tax is reduced by 50 for gifts d cisions en toute s curit hat grant full ownership regardless of the age of the donor Apart from the tax aspects of gifts by grandparents to one or more of heir grandchildren you need to be aware of certain rules in French civil law Specifically you need to comply with the forced heirship stipulation This rule bars parents from disinheriting their children by for example giving all their property to their grandchildren In order to avoid any legal problems later on between children parents and grandparents your notaire will calculate the portion that you can give ithout fear of triggering a family quarrel You can then go ahead and perform a favour for your grandchildren This forced heirship rule is ery often grounds for calling in a notaire to draft your deed of gift In fact an official deed prepared and executed by a notaire is legally required when the gift involves real property land a flat a house In other cases the law allows gifts by hand which are reported to the tax authorities and customary gifts commensurate with your income small gifts are not subject to any specific rules However one drawback of hese two procedures is that they sometimes prove harmful to other members of the family even unintentionally Without proper legal advice you run the risk of upsetting the balance of equality within your family or worse infringing the force
104. er de justice bailiff process server hypoth caire mortgage hypoth que mortgage Hypotheque Mortgage Menu identit identity immatriculation registration immatriculer to register Immobilier Real estate impay unpaid implantation setting up a business imposable liable to tax impos taxpayer imp t tax imp t sur le revenu income tax imp t sur les soci t s corporate tax imprim printed form Indivision coparcenary Undivided possession file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 15 sur 27 07 09 2011 14 43 30 MEETING PEOPLE injonction de payer order to pay off a debt INPI Institut National de la Propri t Industrielle national institute for industrial property inscription enrolment inscribing registration inscription au registre du commerce registration in the trade register INSEE Institut National de la Statistique et des Etudes Economiques French national institute of statistics and economic surveys insuffisance insufficiency lack of funds interdiction de g rer prohibited from managing a business invalidit d un document an invalid worthless document J Menu joindre to attach or enclose documents joint joint J ournal Officiel Bulletin Officiel Des Annonces Commerciales BODACC official bulletin of civil and commercial notices judiciaire judicial juge judge juge commis
105. erty regulations This is a written document that stipulates the rights and obligations of copropri taires co owners It is drawn up by a professional according to information from a surveyor and if possible from the builder of the building It defines the different units apartments cellars parking spaces giving the geographic location floor surface area and the coefficients used to calculate the charges It lays down the communal areas of the building as well as the private areas along with the uses that they can be put to For example whether it is possible to carry outa business in the building Furthermore it gives a summary of everything one must know about the rights and obligations of the copropri taires co owners of any given building Haut du document Soci t civile immobili re SCI real estate trust This is a category of company whose focus is real estate An example would be the soci t civile familiale de placements immobiliers which is the family based version of this regime to group together real estate property within a family group soci t civile de construction vente a trust established for the building and sale of a property and set up during the construction of a building The sale of such a company or its shares is file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 18 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat covered by differ
106. es be on your purchase You will have to pay tax on the purchase price of about 5 of the value of the property which will be collected by the notaire The notaire s fee plus other minor expenses will be about a further 2 plus a further fee is payable to the notaire of 1 of the value of any mortgage you will take Generally you should assume that taxes and fees will be about 7 to 8 of the purchase price of the property for example on a property costing 800 000 you should allow about 21 000 to 24 000 to cover tax and fees What is the effect of the compromis The compromis de vente is a binding agreement between the buyer and the seller that may be subject to the satisfaction of a number of conditions see below Under French law the buyer has an eight day cooling off period after signature of the agreement in which you can withdraw from the agreement and the deposit will be retumed to you in full However if after the cooling off period you change your mind and withdraw from the agreement you will loose your deposit which will be paid to the seller file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 26 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS After the seller has signed the compromis he is effectively committed to sell the property to you If you are buying a new property off plan the agreement may be in the form of a contrat de reservation or contra
107. es documents n cessaires la vente actes d tat civil tat hypoth caire extrait cadastral dossier d urbanisme certificat amiante questionnaire syndic Il faut aussi laisser le temps l acqu reur de r unir les fonds n cessaires son acquisition pr t bancaire ou familial 1 patronal apport personnel parfois bloqu sur un compte d pargne capital provenant d une succession ou d un partage apr s divorce ou encore prix de vente du logement pr c dent Enfin le vendeur a besoin d un d lai pour organiser son d m nagement et lib rer les lieux Le compromis et la promesse de vente sont donc tr s utiles et peuvent tre sign s rapidement En pratique dans les jours qui suivent l accord entre le vendeur et l acqu reur Cependant il faut rester prudent et ne pas signer la l g re Compromis et promesse de vente sont deux contrats pr sentant des points communs Ils engagent le vendeur vendre et l acqu reur verse cette occasion un d p t de garantie 10 du prix en g n ral destin prouver son s rieux Mais ils pr sentent des diff rences des avantages et des inconv nients Dans le compromis l acqu reur s engage acheter il ne le fait pas dans la promesse mais dans ce cas s il n ach te pas il perd son d p t de garantie La promesse de vente doit tre obligatoirement enregistr e dans un d lai strict peine de nullit alors que le compromis est dispens de cette formalit Par aille
108. estate Manifestation de solidarit familiale et d affection lorsqu elles sont consenties Gifts are expressions of family cohesion and affection when they are given to des enfants ou petits enfants les donations peuvent aussi s adresser des personnes trang res la famille Elles b n ficient par rapport la ransmission successorale d une fiscalit tr s all g e hildren or grandchildren and can also be made to persons outside the family Gifts are very lightly taxed in comparison with the transfer of assets through inheritance Les avantages exceptionnels de la donation Gifts offer exceptional advantages La donation est d abord un acte de g n rosit On ne donne qu ceux que l on aime membres de sa famille ou non On peut aussi donner une oeuvre une association ou une congr gation que l on soutient Dans tous les cas la donation est un acte s rieux car sauf exception elle est d finitive Celui qui donne doit tre parfaitement inform des cons quences de son geste La loi prot ge les int r ts de la famille et fixe des r gles pr cises pour que la donation produise tous ses effets Votre logement est peut tre devenu trop grand apr s le d part de vos enfants et son entretien une charge trop lourde Il est possible de le donation vous donnera le droit d y habiter ou de le louer Sauf accord diff rent les gros travaux et les taxes fonci res seront la charge de votre enfant Vous ne supp
109. estos that he buyer may discover on the property after the sale In other words the seller may be forced to bear the cost of removing asbestos from the house at file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 17 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm any time over a thirty year period wo other inspections may be required as well depending on the home s location These involve testing for termites and lead In any department lassified by its prefect as termite infested the seller must provide an inspection report issued within the previous three months by a qualified insured professional before the sale can take place Sellers who fail to produce this certificate will be liable under the same terms that apply in the ase of asbestos With regard to lead in any department that by decree of its prefect has been deemed at high risk for lead exposure buildings that were onstructed prior to 1 January 1948 must have been inspected within the previous year In some cases your notaire can tell you more the seller must send a copy of this report to the departmental prefect As with asbestos and ermites sellers who fail to comply with this obligation will be liable for any hidden defects attributable to the presence of lead immeubles situ s
110. et been shared out between the heirs or in the case of a company that is being wound up file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 13 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Location rental Premises land dwelling made available to an occupant against the payment of rent The owner or bailleur landlord and the tenant of the property are bound by a bail lease or rental contract the latter not necessarily set out in writing However the drawing up of a written contract between owner and tenant is strongly recommended In France the regime most often used for residential rentals is location nue that is to say unfurnished rental Haut du document Location meubl e furnished rental A term that applies to all residences rented with supply of sufficient furniture for everyday life In this situation the landlord is committed to a term of one year minimum The tenant has the right to terminate their contract at any time depending on the wording of the contract Locations saisonnieres Seasonal rentals These are short term rentals by the week the month or maybe the season They are to be found in areas which have a high through put of residents for a limited period Most of these rentals are furnished Loyer rent Sum paid by the tenant to the owner against the use of bien immobilier property used for rental file Cl Documents 20and 20Sett
111. ez qu une partie N anmoins m me une part de la dette peut si elle est importante vous faire perdre tous vos biens C est pourquoi c t du cautionnement personnel il existe le cautionnement r el ou hypoth caire qui consiste engager un seul de ses biens une maison ou un appartement La caution peut aussi par exemple engager un portefeuille de valeurs mobili res au moyen d un nantissement Enfin la dur e du cautionnement peut tre soit de la dur e de la dette soit d une dur e inf rieure Ne vous engagez jamais la l g re Renseignez vous aupr s de votre notaire Sp cialiste de la famille et des contrats il vous conseillera une solution adapt e et vous renseignera sur la port e de vos engagements De m me si vous sollicitez une caution prenez contact avec lui La mise en oeuvre d une caution peut se r v ler difficile et votre garantie illusoire HAUT DE PAGE only a portion Nonetheless if the amount owed is significant even a portion of he debt could wipe out all your assets That is why in addition to the personal surety there is collateral surety or mortgage in which just one of our assets a house or a flat is used as a guarantee The surety may also for example pledge a portfolio of stocks and shares for use as a security Finally your obligation as a surety may continue for as long as the debt or it may be for a shorter period of time Don t enter into
112. fficile obtenir lorsque par exemple l entreprise conna t des difficult s Mieux vaut anticiper Renseignez vous sans tarder aupr s de votre notaire marriage Each of these systems can be customised to your circumstances ith added provisions It is always better to learn about these options before marriage especially if you are a current or future business owner However it is possible to change your marital regime either completely or in part after two ears of marriage Your notaire will then draw up a post nuptial agreement ny such change is subject to approval by a judge which may take several months and can sometimes be difficult to obtain if for example your business is in difficulty It s best to think ahead Find out more from your notaire as early as possible HAUT DE PAGE Bail Commercial Commercial leases Le bail commercial un contrat capital The commercial lease A crucial contract Le commer ant l artisan ou l industriel qui exploite une entreprise dont il est propri taire dans des locaux lou s b n ficie d une protection particuli re l gard du propri taire des lieux le statut des baux commerciaux Pourquoi Parce que la loi veut prot ger l entrepreneur et son entreprise en assurant la s curit de son bail L entrepreneur doit pouvoir compter sur une adresse professionnelle ou commerciale stable pendant une longue p riode La fid lit de sa client le en d pend Cette protect
113. gard to guarantees This may in turn have a direct impact on the company s investments and cash flow file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 31 sur 37 07 09 2011 14 43 23 En cas de difficult s financi res l organisation juridique des locaux d exploitation boutique atelier bureaux usines b timents agricoles est d terminante Leur mode d achat ou de financement en direct au moyen d une structure soci taire en cr dit bail aboutira des r sultats tr s diff rents Quelle que soit la taille de l entreprise petit commerce cabinet lib ral ou soci t et le secteur d activit les aspects familiaux et financiers doivent tre pris en compte d s la cr ation de l entreprise Ils sont d terminants dans le choix de la forme juridique de l entreprise Certaines situations guideront vers la forme d une entreprise individuelle d autres vers la constitution d une soci t il faudra alors choisir le type de soci t possible Les aspects humains sont essentiels Par ailleurs le fait que le chef d entreprise n ait pas organis sa succession peut conduire la disparition de l entreprise son d c s surtout s il est accidentel ou pr matur Des pr cautions doivent tre prises Depuis la cr ation de l entreprise jusqu sa transmission il est pr f rable d tre guid dans le labyrinthe juridique et fiscal par un professionnel c
114. ge certificates actif et le passif assets and liabilities actif net net assets actif social company s assets action part du capital social share stock in a company action en indemnit claim for compensation action en liquidation de l actif social action for liquidation of a company s assets actionnaire shareholder stockholder actionner to take legal proceedings against someone to file suit or sue ADEJE Association Nationale d Aide au D velopement des Nouvelles Entreprises national association for the development of new businesses ADIE Association pour le Droit l Initiative Economique agency offering assistance to job seekers adjoint assistant deputy adjudication sale by auction adjudication judiciaire compulsory sale by court order administrateur administrator administrateur d l gu managing director administrateur judiciaire en mati re de faillite executor official receiver referee in bankruptcy proceedings administrateur judiciaire en mati re de faillite official receiver administrateur judiciare official receiver Administration Fiscale Inland Revenue GB the Internal Revenue Service US administration fiscale tax authorities office affaire transaction business file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 2 sur 27 07 09 2011 14 43 30 MEETING PEOPLE AFPA Association pour la Formation des Adul
115. gement Vous faites vos comptes vous calculez votre plan de financement N oubliez surtout pas les frais ajouter au prix En effet dans presque tous les cas les prix de vente des immeubles maisons appartements terrains b tir sont fix s hors frais d acquisition Ce qui signifie que l acheteur r gle les frais de la vente Ces frais couramment appel s tort frais de notaire s ajoutent au prix d achat mais ne reviennent ni au vendeur ni au notaire pour la plus grande part Alors qui vont ces fameux frais La r ponse est simple il s agit essentiellement d imp ts Le notaire est charg de les recouvrer pour le compte de l Etat En effet les imp ts ne concernent pas seulement ce que vous gagnez imp t sur les revenus CSG et ce que vous poss dez taxes fonci res ISF vignette automobile L administration fiscale taxe galement les immeubles lorsqu ils changent de propri taire Les imp ts et les d bours s co t des documents d urbanisme du bureau des hypoth ques du cadastre etc repr sentent la plus grande partie de ces frais Les imp ts sont nombreux et divers Certains sont proportionnels d autres sont fixes Le plus important est la taxe de publicit fonci re encore appel e droit de mutation titre on reux Il faut encore ajouter la taxe sur la valeur ajout e per ue sur la r mun ration du notaire et le salaire du conservateur des hypoth ques per u sur le prix Avant de vo
116. gorously inspected Fairly long elays are inevitable But the notaire will always submit each document to the arious agencies no more than two months after the deed of sale was signed Once the certified copy of your certificate of deed complete with the official Stamps of approval has been returned to your notaire he or she will take care of some remaining accounting transactions and close the file on your purchase If you paid too much when the certificate was signed the remaining balance will be sent to you along with a statement of your account and the ertificate of title If you still owe money the notaire will ask for the remainder In general you ll receive the certificate of title about three to six months after ou signed the deed of sale Don t hesitate to ask your notaire He or she can signature le solde cr diteur vous est envoy avec le relev de votre compte et tell you approximately when you ll receive your certificate of title HAUT DE PAGE Les obligations du vendeur d immeuble Obligations of the seller file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 23 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Le vendeur d un immeuble appartement maison terrain a l obligation d informer son acheteur D une fa on g n
117. h to purchase the property viewed you must purchase it through the Notaire or Agent you signed the form with Cadastre Register for local town planning Carte Professionelle Professional registration of an Estate Agency Certifcate d urbanisme Confirmation of Planning Permission Clause Suspensive Suspension Clauses which can be included in the initial agreement for purchase Compromis de Vente Purchase Agreement Drawn up between the buyer and seller of the property DDE Department of the Environment responsible to the Mairies as instructors for planning permissions etc Etude de Sol Test carried out for permission for a Septic Tank Fosse Septique Septic Tank Geometre Surveyor Hypotheque mortgage encumbering the property as a security for the payment of money Immobilier Property or Estate Agent Impot Tax Mandat Form Mandat de Recherche Form which a buyer signs when engaging an agency to search for a property Notaire Public Official authorised by the French Government to to prepare private file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 8 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS contracts Permis de Construire Planning Permission Promesse de Vente Undertaking to sell the property Taxe D Habitation Habitation Tax payable for occupation of a property Taxe Fonciere tax payable for ownership of a property Toutes Taxes Comprise TTC price
118. he afternoon Could we arrange to have lunch look forward to meeting you on Wednesday See you next week file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 8 sur 15 07 09 2011 14 43 31 FICHES Changing an appointment I m very sorry have to cancel the appointment on Friday I m afraid can t manage our meeting tomorrow Could we arrange another time OPINIONS AND SUGGESTIONS What do you think about the design Giving opinions What s your opinion of the quality How do you feel about the price In my opinion it s excellent think it s rather expensive Disagreeing I m afraid certainly agree with that don t agree agree completely I m sorry but disagree file Cl Documents 20and 20Settings station Mes 2 ES cd 20notaires documents FICHES 20thematiques htm 9 sur 15 07 09 2011 14 43 31 FICHES Do you have any suggestions for the agenda Any ideas on the parking problem es that s a good idea es let s do that going by plane What about giving a talk Why don t we have a meeting Why not finish with a party We could arrange a tennis tournament it s too far away I m not sure about that I m afraid don t like that idea Menu INVITATIONS Accepting file Cl Documents 20and 20Settings station Mes S cd 20notaires
119. he balance of funds must also be paid including any tax and Notaires fees The Notaire will read through the document and both parties will need to sign The buyer will then receive an Attestation de Propriete Confirmation of Purchase and a receipt for the purchase price plus the keys to the property Insurance It is also worth remembering that under French Law the property must be fully insured file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 7 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS by the purchaser at the time of purchase a certificate of insurance will be asked for by the Notaire at the final signing Fees and Taxes When purchasing a property it is important to ensure that you know the full costs involved These Notaires fees are primarily paid as tax The Notaire is responsible for collecting the tax on behalf of the French Government The tax is normally about 5 of the purchase price together with another 2 for the Notaires fees and other miscellaneous fees It is worth checking with the Notaire exactly what these fees are HAUT DE PAGE Glossary of Terms Accompte Deposit Acte Authentique Transfer Document drawn up by the Notaire Agence Immobili re Estate Agent Amiante Asbetos Attestation de Propriete Confirmation of Purchase Bon de Visite Form completed by a person before they view a property This form means that if for a set period of time you wis
120. he buyer may instruct their own notaire or share the sellers notaire with the fee being shared between both notaires Suspensive Condition A number of provisions Suspensive conditions can be stipulated within the contract These provisions stipulate that the contract will be invalidated and both parties released if certain events take place prior to the final sale e g if the purchaser s mortgage application is rejected certifcate d urbanisme confirmation of planning approval is not approved problems arising from the inspection reports etc These Suspensive conditions have to be agreed between the buyer and the seller and ensure that say for example if you are buying a property and need planning permission to convert into gites this condition is set out in the Purchase Agreement if planning permission is refused the seller may pull out of the sale and will not loose their deposit Once the Agreement has been signed the buyer has a cooling off period of seven days during which time they can withdraw from the agreement and the deposit is returned in full If after the eight days the buyer changes their mind they will loose the deposit It is also important to list in this agreement any items to be included in the sale Completion Once all the conditions of the agreement have been met and the Notaire has all the necessary paperwork the buyer and seller will meet with the Notaire for the final signing of the Acte Authentique Transfer Document T
121. hether or not you are going to take out a mortgage because you will be asked by the sales person to write out a sentence on the contract in French and sign to say if you are not having a mortgage Secondly you must have your mortgage arranged and agreed on before you sign your acte de vente at the notary s usually 1 to 3 months after you have signed your reservation contract if you are taking one out There are various options as to where to obtain your mortgage or funding to finance your new purchase Mortgage through a French bank French banks are becoming more and more aware of the importance of the mortgage market in France and as a result are very keen to lend money and at very attractive rates and terms Currently as a non resident you can obtain a 20 year mortgage for 70 of the property value at between 3 4 French resident is 100 80 for a European resident and 60 65 for a non EU resident Should you wish for help Coast amp Country has good working relationships with French banks offering attractive interest rates A mortgage broker To take a lot of the hard work out of hunting around for their funds some of our clients obtain a mortgage through a broker who will sift the market place for the best deal one that suits your circumstances best If yours is a unusual case Coast amp Country will be happy to recommend reputable brokers to you The legal costs of buying in France are generally 2 5 or 1 5 if no mortgage
122. hin a strict ime period or it is null and void whereas there is no such requirement for a purchase agreement In addition for either a purchase agreement or an undertaking to sell the notaire will add a number of suspensive conditions These provisions stipulate hat the contract will be invalidated and the parties released from their obligations if certain events occur prior to the final sale e g if the purchaser s lbank rejects the loan application the local government exercises its pre file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 19 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm d acquisition chaque dossier n cessite un examen approfondi et personnalis N h sitez pas le consulter avant de vous engager HAUT DE PAGE emptive right a serious zoning easement is discovered etc Notaires specialise in property law and are highly attentive to the specific ircumstances of both the buyer and the seller marital status and regime the size of the purchase etc Each transaction calls for a thorough personalised assessment Don t hesitate to consult your notaire before making a ommitment Chez le notaire qui paie quoi With a notaire who pays what Vous avez le projet d acheter ou de faire construire un lo
123. http certificat op rationnel In response to a request this provides information on whether a specific development may be undertaken on the land It is advisable to ask for a CDU before buying property or land in France It provides information on the development potential of the property and the limitations and obligations attached to that property of any existing rights to build This can affect your intended plans for the property as well as its future value NOTE the certificat d urbanisme does not give authorisation to build it does not replace the building permit but is needed if you plan to make any changes to a file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 31 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS property and or apply for a building permit Requesting a Planning Certificate The CDU states the existing rights to develop the land the taxation mode the zone urban agricultural or other the existent or envisaged water electricity cleansing and servicing of the ground and other factors HAUT DE PAGE If you request a CDU with the intention of renovating existing structures or building new structures you must state clearly the intended purpose of the buildings as well as the probable surface area of all planned buildings Your operational certificate will declare if the ground can be used for the operation described and in the event of negative answer it will
124. hy Because the law seeks to protect entrepreneurs and their businesses by ensuring that their leases are secure Business people need to be able to ount on having a stable professional or commercial location over a long period of time the loyalty of their clientele depends on it This special protection is sometimes called leasehold ownership since in principle the leaseholder has the right to renew the lease Tenants may not be removed rom the property during the term of the lease a minimum of nine years except in exceptional circumstances in which case they must be compensated by the owner The rent may be changed on a regular basis but must remain below a legally imposed ceiling designed to prevent excessive rent increases he leaseholder on the other hand has the right to leave the premises at the end of every three year period unless the lease stipulates otherwise He or she may sell the business including the right to the lease But leasehold ownership does not eliminate the owner s right to reclaim the building at the end of the lease period or after every three year period under very specific ircumstances These circumstances include construction rebuilding personal occupation if the premises include a residence or demolition The owner may also reclaim the premises on serious and legitimate grounds such as the enant s failure to pay rent In the latter case a notarial lease that includes a ermination clause wi
125. hysiques immatricul es un registre de publicit l gale caract re professionnel registre du commerce et des soci t s r pertoire des m tiers registre de la batelerie artisanale et celles exer ant une activit professionnelle agricole ou ind pendante commer ants artisans agents commerciaux agriculteurs professionnels lib raux Elle porte sur la r sidence principale Lorsque l immeuble est usage mixte pro fessionnel et d habitation seule la partie affect e l habitation fait l objet de la d claration sous r serve qu elle soit d sign e dans un tat descriptif de division Bien s r le logement devient insaisissable uniquement l gard des cr anciers pro fessionnels de l entrepreneur et pour les dettes n es apr s la publication de la d claration Cette insaisissabilit prend fin lors du d c s de l entrepreneur en cas de renonciation ou encore si lors du partage apr s divorce le logement n est pas attribu l entrepreneur Seules les dettes de l entreprise sont concern es et non les dettes personnelles La proc dure est simple et peu co teuse La d claration d insaisissabilit est tablie par un notaire publi e au bureau des hypoth ques et mentionn e dans un registre de publicit l gale caract re professionnel ou dans un journal d annonces l gales pour les personnes non tenues de s immatriculer comme les agriculteurs L insaisissabilit du bien n emp che
126. i est aSSez Souvent retenu Le juge he spouses agreement In all other cases the judge must adjudicate between them se contente alors de v rifier la convention des poux Dans les autres land settle their conflict sometimes with great difficulty Once the divorce is pronounced cas il les d partage et r gle leur conflit parfois non sans mal Une fois ithe spouses should have no further opportunity to object However if payment is owed le divorce prononc les poux ne devraient en principe plus avoir as a compensatory benefit the difficulties may last a long time The legislature took d occasion de s opposer action in 2000 to make peace between former spouses For several years a omprehensive overhaul of divorce law has been under study ny divorce proceeding even a divorce by mutual consent takes time Once partners separate they often need to rebuild their lives very quickly and in particular find a new place to live without waiting until the divorce is final Renting a home or stay with family or friends is one solution But occasionally a newly separated spouse will consider buying a residence La proc dure de divorce m me par consentement mutuel prend toujours du temps Or souvent d s la s paration sans attendre le prononc du divorce il faut refaire sa vie mat rielle tr s vite et notamment se reloger La location ou l h bergement par sa famille ou ses amis est une solution Mais dans certains cas un acha
127. icably by private agreement abonnement subscription abus de biens sociaux misappropriation of company funds acces aux donn es data access accomplir les formalit s to comply with administrative regulations accord agreement settlement accr dit accredited authorized Achat Purchase Acheteur Purchaser acte act certificate deed acte authentique document drawn up by a notary lawyer or public official acte authentique document or certificate drawn up by a notary lawyer or public official file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 1 sur 27 07 09 2011 14 43 30 MEETING PEOPLE acte constitutif de soci t memorandum of association acte constitutif de soci t memorandum of association or incorporation acte d association partnership agreement acte de cession deed of transfer acte de d c s mariage naissance death marriage birth certificate acte de nantissement hypothecation certificate mortgage certificate acte de proc dure writ process summons acte de soci t deed of partnership acte extrajudiciaire act out of court extrajudicial act acte judiciaire writ acte juridique legal transaction acte notari deed written and authenticated by a notary acte public official document acte sous seing priv written private agreement but not witnessed Acte Deed of sale actes de l tat civil birth death marria
128. ie de ceux qui bougent Il est utile pour un tranger vivant en France pour un fran ais Vivant l tranger ou encore pour la personne poss dant des biens dans diff rents pays Il peut rester secret et tre crit dans n importe quelle langue Dans tous les cas vous pouvez modifier ou annuler librement et facilement un testament Notre droit prot ge le contenu du testament mais sa validit suppose le respect de quelques conditions N h sitez pas vous renseignez aupr s de votre notaire Il vous guidera vers la formule la mieux adapt e a votre situation et vos souhaits Vos volont s seront ainsi respect es file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm sealed will which is rarely used has the advantage of remaining onfidential The client presents the will to the notaire in a sealed envelope in he presence of two witnesses Only the client Knows its content The major rawback of a sealed will is that the notaire cannot verify its validity from a legal standpoint Holograph wills are the most common They are written documents signed and dated in the testator s hand that are easy and inexpensive to prepare However a holograph will may give rise to dispute if it has not been prepared ith the help of a legal expert Finally there is the international will Introduced into French law in 1994 this ill is suitable for people on
129. iginal family assumption of the parents surname rights to their estate and so forth The judge in France will hen verify that the requirements for adoption have been met But which laws are applicable when determining compliance with these conditions The laws in the child s country of origin or those in the country where the adoptive parents live The laws in the country where the child has nationality or those here the adoptive parents have nationality Adoption requirements sometimes vary greatly from one country to the next In some cases the rules may differ depending on whether the child is being adopted by one person or a ouple In some admittedly rare cases the adoptee s country prohibits the legal system of adoption In addition prospective parents need to know whom hey should contact in order to make an adoption official and what procedures hey need to follow In France adoptive parents must obtain official approval the agr ment in order to adopt a child from abroad Otherwise French officials will not issue a visa allowing the foreign born child to enter France he second set of problems involves prospective parents who adopt a child in another country On their return to France they wish to obtain official recognition of the adoption conducted abroad This can certainly be done but adoption may have very different consequences from one country to another In some cases an adoption ruling issued in another country will n
130. imp t de solidarit sur la fortune or file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 33 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm ISF Partners who do not qualify for the exemption applied to business assets ill under certain conditions be exempted from the wealth tax for up to half he value of their company fees as part of a collective commitment to the ustodianship of shares In addition securities received as part of a capital subscription excluding contributions in the form of buildings or negotiable securities for a small or medium sized business i e one with fewer than 250 employees and turnover of no more than 40 million per year or a balance sheet total of no more than 27 million operating in the industrial commercial rade farm or professional sectors will now be exempt from the ISF Moreover any company executives who do not hold 25 of the share capital will be exempt from the wealth tax with regard to business assets so long as the alue of the shares they hold exceeds 50 of the gross value of goods that are subject to the ISF 5 tax reduction for certain buyers of small and medium sized companies Once the law takes effect those who borrow in order to subscribe for a portion of the capital of an unli
131. in the light of each party s personal circumstances as part of a thorough evaluation conducted with a notaire No marital regime is inherently good or bad but certain arrangements may be especially appropriate or especially inappropriate in view of your Specific needs and wishes ou may choose from among three broad types of marital regimes separation of property joint estate and joint ownership of property acquired after the Pour le chef d entreprise commer ant artisan agriculteur professionnel lib ral travailleur ind pendant industriel le choix d un r gime matrimonial est particuli rement important compte tenu des risques de la vie professionnelle Dans tous les cas il sera important de veiller aux cons quences de son activit sur les int r ts de sa famille Est il souhaitable d exposer sa famille aux poursuites ventuelles des cr anciers de l entreprise A l inverse est il int ressant d utiliser son patrimoine familial pour inspirer confiance ses associ s aux fournisseurs ou la banque Le chef d entreprise peut souhaiter pr server sa libert d action s il la juge n cessaire la bonne marche de son activit Il doit alors pouvoir d cider vite c est dire seul Or dans certains r gimes matrimoniaux l accord du conjoint est n cessaire pour des op rations telles qu achat cr dit emprunt garantie vente d un bien bail C est parfois une source de difficult s importantes si le conjoint es
132. includes all sales taxes HAUT DE PAGE Taxation in France Local Taxes There are two local taxes which are both based on the property s theoretical rental value which is adjusted in line with inflation The rates of tax will vary from region to region due to the varying rates of tax imposed by the regional and local governments Taxe d Habitation The occupier of the French home is liable for this tax It is due of the 1st January and is payable by the person who was the occupier at that date There are exemptions for over 60s and also if the property is incapable of occupation due to it needing extensive renovation The test is whether the property is furnished and whether you can convince the local mayor Tax Fonci re The owner of a French home is usually liable for this tax also known as impot fonci re a land tax which is generally payable in one lump sum on the 1st January in each year Unlike the taxe d habitation apportionment can be made between the buyer and seller If there is an apportionment this should be stated in the contract for sale This tax is even payable on unbuilt land It may be divided into two parts one for the building and some of the land surrounding it the other for the remainder of the land There are exemptions for some agricultural land and the owners of new property have at the time of writing a two year exemption Personal Taxation As a non resident property owner in France you may be liable for in
133. ings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 14 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Mandat mandate Document in which a person mandant principal gives the mandataire representative the power to carry out on their behalf one or more acts of a legal nature such as a sale a purchase rental It is obligatory for estate agents and property administrators to hold a mandate in order to sell rent or manage a property Mandataire representative The person or persons selected by the principal to receive the mandat Haut du document Mandant principal The person who gives the mandat mandate Marchand de biens property dealer or trader Business person whose business is to buy buildings in their own right and then to sell them on for a profit This business is not regulated so is not covered by the same guarantees as those of an estate agent but is covered by special laws However many dealers with a good reputation carry out their businesses by renovating the buildings that they buy so as to sell them in a renovated condition Notaire the equivalent of a solicitor ora notary A ministerially appointed officer with the role of being solely responsible file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 15 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat for drawing up certain civil documents as well as their authentificati
134. ion rental contract See bail lease Copropri taire co owner Owner of a bien immobilier property in a building where the status complies with copropri t co ownership Copropri t co ownership A situation in a building that belongs to several persons at any one time and to each of them separately The building is thus divided into common and private areas The co ownership regulations fix the rules for communal life A legal situation covered by the law of July 10 1965 D p t de garantie Deposit Sum of money given over to guarantee that the contract be respected In the case of rentals it is given to the landlord by the tenant when he enters the premises and is returned at the end of the rental period on condition that rent and charges have been correctly kept up with In the case of a pre contract for a sale oromesse or compromis the deposit ensures that the final contract be signed see also indemnite d immobilisation file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 10 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Haut du document Expert immobilier property surveyor A professional whose role is to estimate that is to say evaluate the valeur venale market value or rental value of property residential or industrial buildings businesses premises etc In reality the expertise immobiliere Survey covers
135. ion of assets in a divorce file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 1 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm e ADOPTION geste d amour et parcours juridique Cross border adoptions e VENTE et ACHAT PURCHASE amp SALE L achat La vente Diagnostics immobiliers un dossier unique What inspections must be performed Compromis ou promesse de vente mode d emploi Purchase agreements and undertakings to sell Some guidelines Chez le notaire qui paie quoi With a notaire who pays what La caution ne pas s engager la l g re Acting as surety Don t take it lightly Les d lais apr s signature You ve signed the contract What s next Les obligations du vendeur d immeuble Obligations of the seller e SCI 2 L int r t de constituer une SCI Property investment partnerships SCls e ORGANISER SON PATRIMOINE ORGANIZING YOUR ESTATE IN e mettez pas tous vos oeufs dans le m me panier Don t put all your eggs in one basket Transmission de son patrimoine Transferring an estate Les avantages exceptionnels de la donation Gifts offer exceptional advantages Donner ses petits enfants Giving to your grandchildren e CREATION D ENTREPRISE STARTING A BUS
136. ion sp ciale est parfois appel e propri t commerciale car le locataire a droit en principe au renouvellement du bail Pendant la dur e du bail au minimum de neuf ans le locataire ne peut pratiquement pas tre mis la porte sauf cas exceptionnels et condition d tre indemnis par le propri taire Quant au loyer il peut tre r vis r guli rement mais dans le respect d un plafond l gal interdisant des augmentations excessives De son c t sauf clause contraire du bail le locataire peut quitter les lieux tous les trois ans Il a le droit de c der son fonds de commerce comprenant le droit au bail Mais la propri t commerciale ne retire pas au propri taire le droit de r cup rer son immeuble au terme du bail ou la fin d une p riode de trois ans dans des circonstances pr cises toutefois par exemple construction reconstruction habitation personnelle si les locaux comprennent un logement d molition ou encore motif grave et l gitime tel que le non paiement du loyer par le locataire Dans ce dernier cas un bail notari contenant une clause r solutoire permettra une action rapide et efficace En dehors de ces cas le locataire a droit s il remplit les conditions n cessaires Retailers tradespeople and manufacturers who own and operate a business on leased premises enjoy special protection in the form of the commercial lease with respect to the owner of the property
137. ire asset jointly with others as part of an estate or you may be divorced and the joint estate has not yet been divided Dans toutes ces situations informez vous sur vos droits et obligations In each of these cases you should know your rights and obligations Don t N h sitez pas interroger votre notaire il vous fournira les l ments vous hesitate to ask your notaire for more information He or she will provide you permettant de prendre les bonnes d cisions en toute connaissance de cause With the information you need to make a fully informed decision If you do not Si vous n avez pas de notaire de famille vous pouvez demander la chambre have a family notaire ask your local Chamber for a list of notaires in your d partementale des notaires la liste des notaires de votre r gion ou consulter region or visit http vww notaires fr l annuaire des notaires HAUT DE PAGE Divorce Divorce Acheter un logement pendant un divorce Prudence Buying a home during a divorce Be careful Divorcer est une preuve Elle est plus ou moins p nible suivant la Getting divorced is an ordeal The degree of difficulty depends on the procedure proc dure choisie et les obstacles rencontr s par les poux La loi hosen and the obstacles encountered by the spouses The law provides for an a n divorce oeil ject les amicable divorce which spouses often choose In this case the judge simply confirms propose un divorce a amiable qu
138. it de nantissement lien on goods droit de travail labour law droit des affaires business law droit des soci t s corporation law droit fiscal fiscal law droit p nal criminal law droit social labour law droits de mutation land transfer tax E Menu EDF Electricit de France The French electricity company moluments du greffe registration fees for the greffe employ employee employeur employer emprunt loan Emprunter To borrow en exercice practicing in office enregister to register enregistrement registration enregistrement d une soci t incorporation of a company enregistrer un acte record a deed entrep t warehouse entreprise business company entreprise artisanale cottage industry handicraft entreprise entreprise individuelle one man business sole ownership sole trader entreprise unipersonnelle responsabilit limit e EURL private limited company under sole ownership EPIC Etablissement Public Caract re Industriel et Commercial public utility company tablissement establishment drawing up tablissement des documents requis drawing up the required paperwork file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 12 sur 27 07 09 2011 14 43 30 MEETING PEOPLE tablissement principal main office tablissement public public corporation tat civil civil status birth death marriage
139. ivis et indique la quote part de chaque lbe considered valid It describes the jointly owned asset and indicates the indivisaire Publi e au bureau des hypoth ques cette convention doit tre percentage share in the asset held by each joint owner Such an agreement r dig e par acte notari Elle peut tre conclue pour une dur e maximum de which is submitted to the mortgage registry must be prepared by a notaire and cinq ans Pendant la dur e de la convention d indivision et sauf circonstances may extend over a maximum of five years For the duration of the joint exceptionnelles personne ne peut exiger la vente pour obtenir sa part ce qui jownership agreement barring any exceptional circumstances no owner may offre une stabilit certaine La convention est renouvelable sur simple accord demand sale of the asset in order to obtain his or her share This provides a des indivisaires Ceux ci peuvent m me pr voir qu elle se renouvellera par ertain level of stability The agreement may be renewed by a simple decision tacite reconduction Cette convention permet aussi d organiser la vie de of the joint owners It may even include a provision for tacit renewal This l indivision notamment de r partir les d penses Un g rant peut m me tre lagreement can also serve as a basis for structuring the joint ownership nomm par les indivisaires choisi ou non parmi eux Si vous occupez seul UN gpecifically in terms of allocating expenses The joint owners
140. ject exceeds 170 square metres the permis de construire must be prepared and presented by a registered French architect file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 32 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS e Present an application for a declaration de travaux for work that is exempt from needing a permis de construire Note These are buildings of low importance that fall within specific height and area limitations including open swimming pools frames and greenhouses within a size limit and structures under 20 square metres The mairie can provide you with further information e Apply for an extension of the CDU a prolongation de validit The CDU can be extended for one year from the date of the officially stamped letter from the mairie which comes with the CDU Request an extension of the certificate for one year no later than two months before the expiry date of the old certificate This demand must be done by letter in duplicate addressed to the Mayor accompanied by the original CDU and sent by lettre recommand registered post with accus de r ception a receipt confirming delivery Note An extended and valid CDU continues the exact rights that were initially granted There is a heavy minimum fine for using land for a purpose other than that prescribed file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 33 sur
141. le conditions the costs of the ransfer will be smaller and you can choose when to pay them Specifically in order to expedite the transfer of assets from one generation to the next France s current tax law provides for a reduced ax 50 or 30 lower depending on the donor s age under 65 or 75 ears of age respectively In addition this tax is reduced by 50 for gifts in fee simple that are approved up until 30 June 2005 regardless of he age of the donor Finally new tax measures are making it easier to ransfer businesses et s take the example of a man aged 68 with one child owning a home alued at 130 000 Upon his death his child would theoretically pay 15 100 in estate tax With a donation of bare ownership that allows hat parent to live in the house or even to rent the house and collect the ental payments the tax burden would be only 6 930 and there would e no estate tax to pay That s a difference of more than 8 170 on the Same asset Moreover since the value of the home is likely to increase efore the death of the parents the estate tax would be calculated on the asis of a sum greater than 130 000 which would increase the tax bill still further on t hesitate to contact your notaire He or she will work with you to ind the solution best suited to your wishes and your resources La donation permet galement d importantes conomies d imp ts notamment en cas de transmission d entreprise d exploitation agricole ou d
142. ll enable the owner to take quick and effective action file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 36 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm au renouvellement de son bail pour la m me dur e et moyennant un loyer part from these cases any leaseholder meeting the required conditions has soumis un plafond A d faut il re oit en principe une indemnit repr sentant the right to renew his or her lease for the same period of time at a rent that is la valeur du fonds ou de son droit au bail subject to a legal ceiling If not he or she receives in principle an indemnity hat represents the value of the business or of the leaseholding right Certains baux commerciaux ne sont pas soumis a ces r gles sp ciales mais seulement au code civil Les parties ont alors une plus grande libert pour fixer le loyer et sa r vision les conditions de cession du bail et la fin du bail Il s agit par exemple des locations d une dur e inf rieure deux ans bail pr caire des locations saisonni res ou des locations de terrain nu et inconstructible Some commercial leases are not subject to these special rules but are overned solely by the French Civil Code In this case the respective parties have greater latitude to set or modify
143. lth and age It s very important to choose the right arrangement before you marry even though you have the option of changing it later on For business owners including retailers tradespeople farmers professionals he self employed manufacturers the choice of a marital regime is especially important owing to the risks inherent in business You should always assess he impact of your business on your family s interests Is it advisable to expose our family to possible legal action by the company s creditors Conversely is it worthwhile to use your family assets to gain the confidence of partners Suppliers and banks Business owners may wish to preserve the ability to act as they see fit to ensure the proper functioning of the business This requires he freedom to make decisions quickly in other words it requires sole ecision making power Under some marital regimes however the spouse s approval is required for transactions such as a purchase on credit loans securities the sale of an asset or signature of a lease This can sometimes present substantial problems if the spouse is far away or is unable to express his or her wishes In other cases by contrast the couple will want to ensure hat the spouse takes part in certain decisions so that the two share equally in he company s fortunes good or bad Couples should plan for each of these scenarios and many others such as ivorce death or the transfer of the business
144. ly for professional activiites that is to say in which the tenant carries out a non commercial professional activity notably free lance businesses doctors dentists associations unions Professional leases are covered by the Civil Code code civil relative to the contract for rentals and article 57 A of the law of 23 December 1986 This commits the landlord to a term of three or six years The tenant can terminate the contract at any time with a notice file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 6 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat period of 3 months Bien immobilier property Property that is to say building land business share in a property company etc In fact the original notion covered all objects attached to the Earth itself so immobile including trees and harvests and the land itself and by extension the moveable property when attached to the building sink fireplace shutters In principle built property must have been subject to planning permission Bon de visite proof of visit Document in which an estate agency s client recognizes having visited a property through the intermediary of the agency Haut du document Carte professionnelle professional card Those persons carrying out property management or transactions estate file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER ht
145. m 7 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat agents property managers must have a professional card It is issued by the pr fet and renewed each year It specifies the type of activity Property or business transactions or Property management An estate agent who does not have this card cannot carry out his professional activity Charges r cup rables reimbursable charges This concerns all the expenses of the bailleur landlord that can be reimbursed by the tenant The reimbursable charges are distinct from the main rent As far as residential leases are concerned the deductible charges are limitatively listed by the Decree of 26 August 1987 They concern expenses relating to the routine maintenance of the property the equipment mentioned in the contract as well as minor repairs and certain taxes Commission Term used to designate remuneration paid to an agent immobilier estate agent in the context of their professional activity sale rental management The estate agent must obligatorily have a mandat mandate to sell rent or manage in order to be eligible for a commission The remuneration of agents immobiliers estate agents commission and fees is not fixed and must imperatively be written into all the working documents Haut du document Compromis de vente pre contract This is a sort of pre contract signed by the seller and the buyer of a file Cl Documents 20and 20Settings station
146. moins Le notaire lui m me le r dige sous la dict e de son client Il en donne ensuite lecture et tout le monde le signe sauf le client s il est dans You have just inherited or you inherited sometime in the past It may be difficult for you to deal with this situation Your notaire will do all that is needed to transfer the estate and will answers any questions you may have such as Who inherits What are the rights of the surviving spouse since the law of 3 December 2001 What rights do creditors have How is the inherited property disposed of How much will be owed in taxes How much are the total fees ou probably think a will is for people who are elderly or ill Perhaps it s something you don t want to think about just yet However a will often provides the best method of protecting yourself especially if you are unmarried Even a civil solidarity pact cannot protect your partner as securely as a will can But what is a will and what purpose does it serve will is a written document that allows an adult to make decisions and express certain wishes to be observed when he or she dies As always your notaire a government appointed public official is at your service to draft or help you write and safeguard your will You can use a will to bequeath an asset an animal or a sum of money to whomever you choose a spouse partner child friend or association You can also use a will to resolve a number of personal matters For exampl
147. n of the parties mortgage status a cadastral map zoning and urban planning information an asbestos certificate the questionnaire for the managing agent etc In addition he buyer needs time to raise the necessary funds for the purchase bank or amily loans employer contributions personal contributions which are sometimes frozen in a savings account capital from an inheritance or a post divorce division of assets income from the sale of a previous residence Finally the seller will need time to organise a move and leave the premises So the purchase agreement and undertaking to sell will prove very useful and an be signed quickly generally within a few days after the buyer and seller reach an agreement Nonetheless you should use caution don t enter into an agreement lightly Both purchase agreements and undertakings to sell are contracts that share ertain features They obligate sellers to sell the property and purchasers must provide a security deposit usually 10 of the price when the contract is signed as proof of their intent to buy But these agreements differ in a number of ways as well each has advantages and disadvantages In a purchase agreement compromis de vente the buyer makes a commitment to purchasing the property The undertaking to sell oromesse de vente includes no such commitment but the buyer will lose the security deposit if he or she hooses not to buy The undertaking to sell must be registered wit
148. nowingly to the statutory regime known as communaut d acqu ts Con u pour le cas g n ral il trouve communaut d acqu ts ownership in common of property cependant ses limites d s que se pr sente une situation familiale acquired during the marriage This regime designed for general ou patrimoniale particuli re ll en est ainsi notamment lorsque les cases has certain limitations when a particular situation arises in poux exercent une profession ind pendante entra nant des relation to family matters or assets risques financiers Il faut alors se tourner vers un autre statut his is especially true when spouses carry on an independent mieux adapt profession entailing financial risks In this case a more appropriate status is advisable HAUT DE PAGE PACS Civil solidarity pacts Cons quences fiscales du pacte civil de solidarit PACS The tax implications of a civil solidarity pact PACS Le pacte civil de solidarit pacs est un contrat conclu entre deux The civil solidarity pact pacte civil de solidarit or PACS is a contract between personnes de sexe diff rent ou de m me sexe pour organiser leur vie two people of the same or different sex that provides a formal structure for their commune Les partenaires ont l obligation de s apporter une aide life together Each partner is required to give material assistance to the other and mat rielle mutuelle et sont tenus solidairement pour les dettes de la vie the
149. nsaction is no exception However the system is in many ways better and safer than that applying in most other countries including England The French law concerning property is more like Scottish law than English Gazumping for example is not possible and if you make a written offer on a property that is accepted by the owner you will usually be expected to put down a deposit of 10 of the purchase price which you may forfeit if you change your mind unless there is a bona fide reason for doing so All normal property transactions must pass through a notaire notary who is the only person who can make the title searches and obtain certain legal documents necessary to make the transaction possible The purchaser can choose the notary he wants to handle the transaction The purchaser is responsible for the payment of the notary fees which depending on the selling price can be as much as 8 on small old properties though around 6 5 is more usual or as little as 1 5 to 2 on newly built file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 2 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS properties with an additional cost of around 1 1 5 if a mortgage is to be registered on the property One should note that prices of property are generally advertised exclusive of these charges The notary does not get the entire fee His fees are determined by the French state on a scale which is th
150. nsion fund Caisse Nationale d Assurances Maladie des Travailleurs Salari s national health insurance fund for salaried employees Caisse Nationale des Barreaux Francais CNBF pension fund for professionals Caisse Nationale Vieillesse des Professionss Lib rales CNAVPL pension fund for the legal profession Caisse Primaire d Assurance Maladie CPAM national health office Capital d apport initial capital capital d apport initial capital Capital social registered capital Capital social registered capital authorized capital carte d identit identity card carte d identit identity card ID card carte de commer ant tranger non French trading permit carte de s jour residence permit casier judiciaire criminal record Casier judiciaire police record file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 6 sur 27 07 09 2011 14 43 30 MEETING PEOPLE casier judiciaire vierge clean record Caution guarantee security cautions conjointes et solidaires sureties liable jointly and severally CCIP cf Chambre de Commerce et de l Industrie de Paris C biteur debtor CEE Communaut Economique Europ enne EEC European Economic Community Centre de Formalit s des Entreprises CFE centre for administrative formalities official paperwork required for registering and reporting company activity Centre de Gestion Agr s CGA like the AGA
151. o pay an annual wealth tax This tax is calculated by reference to the total value of an individual s worldwide assets after deduction of liabilities However there are exemptions for business assets and works of art subject to the proviso that a number of specified conditions are met file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 16 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS e Take note as a result of tax treaties some expatriates may be exempt from wealth tax If the value of individual s net worldwide assets assessed on the 1 J anuary is in excess of 32 000 the excess is subject to a progressive tax which starts at 0 55 and rises to a maximum of 1 8 for the top slice of net assets in excess of 4 5 255 000 figures for the year 2005 Assets include all land and property shares etc after deduction of liabilities in the case of a house its value for tax purposes would be after deduction of any mortgage Non residents are also liable to pay wealth tax if the net value of their assets in France on the 1J anuary is in excess of 732 000 The provisions summarised above will apply An annual wealth tax declaration must be made to the authorities either by post or by internet by J une The tax is self assessed and a cheque for payment of the tax due must accompany the declaration Inheritance and Gift Tax What are these taxes In general terms inheritance tax will be levied
152. o be paid can take legal action against the surety and even cause his or her assets to be sold This system known as personal surety cautionnement personnel is very effective and even harsh in some cases In effect if the document you signed states that you are the joint surety caution solidaire the creditor may solicit payment from you directly without having to contact the borrower or tenant irst You are said to have renounced your benefit of discussion On the other hand if you are an individual surety caution simple the bank or owner must irst apply to the borrower or tenant If others are also sureties for the same borrower or tenant your situation will ary depending on the circumstances One surety may sometimes take action against the others If your commitment includes a waiver of the benefit of ivision you could be forced to pay the entire debt Otherwise the borrower s tre amen payer la totalit de la dette Sinon la dette de l emprunteur ou du Or tenant s debt will be divided among the various sureties and you will pay file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 21 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm locataire sera divis e entre les diff rentes cautions et vous n en paier
153. o means more good tax planning opportunities are thrown up Essentially these are companies which are not subject to French corporation tax They are generally viewed as transparent for tax purposes similar to English partnerships They are called soci de personnes They include SCls SARLS which have elected for personal as opposed to corporate taxation and regardless of any election the sole shareholder of a SARL who is an individual This will extend to non French companies which French law classifies as having the requisite characteristics The new rules cover either a sale of a property by such a company or the sale of shares in such company which broadly is a property company There is a problem with SCls if they say carry out furnished lettings which is taxed as a trade in France because they cease to be tax transparent So the French Revenue looks through the company and taxes the underlying owners of the company direct Broadly yes If the soci de personnes has its registered address siege in France file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 24 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS it probably will be French resident under a relevant Double Tax Treaty The Shareholders or partners whether or not French resident will be taxed accordingly to their shares as a French resident No tax agent under is needed This also applies if the partner is not a EU resident Th
154. o ownership property Its objective is the conservation of the building and the administration of the common areas The decisions are made by the assembl e g n rale general assembly When an apartment changes hands in the building the new buyer automatically becomes a member of the association Usufruit A legal term covering part of the right of ownership literally it refers to receiving the fruit resulting from the use of the property fruit here meaning revenue profit This concerns the right of use and benefit associated with a property where the bare ownership belongs to someone else This is a temporary right and ends notably when the usufruitier dies Additional usufruitier rights are the rights of nu propri taire bare property owner The split of full ownership between nu propri taire bare ownership and usufruitier often arises because one of the parties in an inheritance in general the spouse of the deceased keeps the usufruit and the direct heirs in general the children the nue propri t bare ownership Haut du document file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 20 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Valeur v nale market value The sale value of a bien immobilier real estate property The price that the bien immobilier property would have fetched if it had been put on sale Vente immobili re real estate sale
155. oit pr ciser si un bornage a t effectu et informer sur les r gles d urbanisme applicables au terrain et les possibilit s de construction II faut galement tenir compte de l environnement de l immeuble existence ventuelle de risques naturels pr visibles dans la r gion inondation mouvements de terrain de servitude d urbanisme conformit de l installation d assainissement individuel de la maison exploitation d une activit polluante proximit Le devoir d information du vendeur est vaste et sa responsabilit importante Les renseignements doivent tre donn es l acqu reur d s la signature du contrat pr liminaire Il est donc important d tre conseill par un professionnel du droit et de l immobilier avant de mettre en vente un bien immobilier N h sitez pas rencontrer votre notaire et surtout ne signez pas sans son avis Il vous accompagnera dans votre projet et vous aidera le r aliser en toute s curit hose who sell a property a flat a house or a plot of land are obligated to inform potential buyers In general sellers must provide all the information in renseignements qu il d tient sur l immeuble Certaines de ces informations sont their possession regarding the property Indeed some of this information is required by law French courts impose heavy fines on sellers who fail to omply with this obligation If the seller conceals important information the buyer can obtain a lower price on
156. omp tent Prenez contact avec un notaire g n raliste du droit de la famille et du patrimoine Sa vision globale long terme permettra une organisation coh rente de votre patrimoine professionnel en harmonie avec vos souhaits personnels En le consultant avant de prendre une d cision importante vous viterez bien des mauvaises surprises HAUT DE PAGE Insaisissabilit du logement Exempting homes from seizure file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm If financial difficulties arise the legal structure governing the operating premises shop workshop offices factories farm buildings will be a decisive actor The purchasing or financing methods used e g direct purchasing purchases via a shareholder organisation leasing will yield very different results Regardless of the company s size small business professional practice or corporation and business sector family and financial factors should be taken into consideration from the moment the company is established These factors will be critical for deciding what legal form the ompany should take Certain circumstances call for a sole proprietorship hile in others a joint stock company is more appropriate entrepreneurs must hoose what is right for them The human factor is essential Moreover if a ompany owner fails to arrange for a successor the company may fail upon he owner
157. on sale of a building marriage contract wills The notaire also has the role of advisor Nue propriete bare property A legal term covering part of property law It gives its holder the right to dispose of the property but does not allow the use or benefit thereof The nu propri taire bare owner pays the taxes and charges on the property For example the bare owner of a building can rebuild it in the context of conservation They can sell or sign over their rights They cannot live in or rent the property Additional rights of the bare owner are the rights of l usufruitier beneficial owner or life tenant Haut du document Particulier private owner In contrast to the agent immobilier estate agent an owner can procede with the sale or rent of a property that they possess In the same way a private individual can be elected syndic representative of the co ownership association on a voluntary basis in a co ownership property but cannot be paid as a professional when carrying out this activity In this case the buyer the tenant or the copropri taires co owners do not benefit from any kind of financial or legal guarantee as to the management the funds committed the drawing up of legal contracts or of the correct application of these contracts Promesse de vente promise to sell file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 16 sur 21 07 09 2011 14
158. onfirming your purchase attestation de propriete plus the keys to what is now your property Later you will receive an exemplified copy of the purchase deed and the original will be held by the notaire HAUT DE PAGE SCI and Property Purchase What is an SCI e An SCI is essentially a fully incorporated company with a registered office in France This office can be the property itself e The SCI then owns the property in question e Being a company the SCI is itself owned by shareholders in most cases family members e The shareholders can be resident or non resident in France Note It is important to note at this point that the tax consequences of the purchase through an SCI should be analysed according to French law and the tax treaty between France and the home country before going ahead with any purchase Advantages of an SCI 1 In terms of inheritance the use of an SCI overcomes some of the disadvantages that France s Napoleonic laws entail e French law dictates that upon the death of the home s owner the property is divided up between the surviving spouse and any children The decision about what to do with a property which may now be too big for for example an elderly widow is passed on to the widow and any children either from that marriage or previous This can be potentially uncomfortable where stepchildren are involved However using an SCI and its shareholder status means that the parents can appoint themselves as maj
159. ons payroll taxes chef d entreprise company director file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 7 sur 27 07 09 2011 14 43 30 MEETING PEOPLE chef d entreprise company manager director chiffre d affaires sales turnover chiffre d affaires turnover sales figures CIPAV cf Caisse interprofessionnelle de prevoyance et d assurance vieillesse cl d authentification validation procedure for secure computer access Clerc Clerk cl ture conclusion closure cl ture de la faillite closing of bankrupcy proceedings cl ture de la liquidation completion of liquidation cl ture pour insufficance d actif closing down bankruptcy proceedings when there are insufficient funds to pay legal and other expences commanditaire limited partner commanditer to finance commer ant merchant tradesman businessman commer ant ind pendant independent retailer sole trader commerce business commerce trade commis greffier assistant to the registrar clerk of the court commissaire appraiser assessor auditor commissaire aux comptes auditor comp tent appropriate relevant competent compl mentaire additional Compromis Preliminary contract comptabilit accounting accounts compte account compte bancaire bank account compte bloqu escrow account blocked account compte commercial business account compte courant current
160. ontract known as the by laws is required of every SCI hese by laws must contain information on the firm and its partners including its name headquarters total assets method of operation etc Once the by laws have been signed by the founding partners the partnership is registered ith the local trade and companies register La soci t civile immobili re SCI a pour objet d acqu rir ou le cas ch ant de faire construire des immeubles maison appartement immeuble entier en vue de les louer un tiers ou de les mettre disposition gratuite de ses associ s Il faut au moins deux personnes pour la constituer Un contrat crit d nomm statuts de la soci t est obligatoire Ces statuts contiennent imp rativement des informations sur la soci t et les associ s nom si ge social montant du capital fonctionnement etc Apr s leur signature par les associ s fondateurs la soci t est immatricul e au registre du commerce et des soci t s he partners in a partnership are liable for the firm s debts in proportion to their share in its capital For example in a partnership consisting of two partners ho each hold one half of the firm s assets each partner will be liable for one half the liabilities Therefore there must be complete trust not only among the partners but also between the partners and the firm s manager s who must be chosen wisely The advantage is that when several partners join forces
161. ority shareholders e They can make provision that upon the death of one or the other that his or her shares file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 28 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS are passed onto the surviving spouse therefore ensuring that the controlling share remains in the hands of the parent and any decision regarding the property belongs to the partner of the deceased 2 Where succession remains the issue shares in a company are easier to distribute than immovable property and so managing inheritance and transferring the property is Simplified 3 The shareholder structure means that it is easier to divide up shares rather than Splitting the ownership of a property In turn this makes it easier for individuals with small budgets to pool their funds and buy a property that they would not be able to buy individually Itis also easier to dispose of the shares without the aid of a notaire thereby making the SCI more flexible than direct ownership 4 When using an SCI to buy a property the net worth of the property can be reduced for tax purposes by way of debt This can minimise French wealth tax and inheritance tax liability 5 Where foreign residents are concemed the use of an SCI can be a great advantage for people whose home inheritance laws are more flexible than French laws outlined above e Upon death the applicable law is normally the one of
162. orterez plus que l entretien courant certains travaux ne concernant pas le gros oeuvre et la taxe d habitation La donation peut galement tre consentie en contrepartie d une rente Elle Donner peut aussi tre un geste de bonne gestion du patrimoine familial donner un enfant tout en continuant l habiter Une clause de l acte de biving the house to one of your children while you continue to live in it gift or donation is first and foremost an act of generosity You make gifts only to those you love members of your family and others as ell You can also give to a charity an association or a congregation hat you support A donation is always a serious step because with a ew exceptions you cannot take it back Donors must be fully aware of he consequences of their gift The law protects the interests of the amily and lays down precise rules to ensure that the gift has the intended consequences Giving can also reflect proper management of your family assets erhaps your house has become too large now that your children have eft home and maintaining it is too expensive You have the option of provision in the deed of gift will give you the right to live in or rent he house Unless you agree otherwise your child will be responsible or major renovation work and property taxes You will be responsible only for routine maintenance certain tasks that do not involve major file Cl Documents 20and 20Settings station
163. osition The tax authorities may claim the entire income tax liability from either partner commune d s la souscription du pacs and either may be subjected to tax audits in the future Employed same sex La d claration de revenus est sign e par les deux partenaires et la feuille partners who wish to deduct actual work related commuting expenses may do so d imposition est tablie leurs deux noms L administration fiscale pourra although in the past this option was reserved for heterosexual couples In the r clamer la totalit de l imp t sur le revenu l un ou l autre des event that the PACS is formally ended each partner once again becomes partenaires de m me pour les contr les fiscaux ult rieurs c est la personally liable for tax on income earned during the year of the break up file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 4 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm solidarit En cas de rupture du pacs chacun des partenaires redevient personnellement imposable en son nom propre au titre des revenus dont il aura eu la disposition entre la date de rupture et le 31 d cembre de l ann e de la rupture Pour l imp t sur la fortune les partenaires sont galement impos s en commun Ils signent conjointement la d claration
164. ot have the ull legal impact that the parents anticipate If for example the country where he adoption took place does not recognise full adoption the child will maintain links to his or her family of origin which will retain certain rights over the child herefore you need to be vigilant Make a thorough study of any adoption rulings issued abroad Some countries are unfamiliar with adoption there the procedure involves simply turning the child over Problems arise in certain ountries in particular such as Viet Nam Korea India Haiti and Lebanon Can you adopt a child from such a country Will the court ruling issued abroad prove sufficient in France or will you need to move for an adoption ruling in France as well Once the adoption is complete what will be the adopted file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 15 sur 37 07 09 2011 14 43 23 l adopt sauf en cas d adoption de l enfant de son conjoint En effet dans ce cas particulier d adoption de l enfant de votre conjoint l adoption pl ni re laisse subsister les liens juridiques unissant l enfant sa famille d origine En dehors de cette exception l adopt change de famille dans l adoption pl ni re Mais l adoption pl ni re n est possible que dans certains cas limit s ll existe trois cat gories d enfants adoptables ceux dont les parents ou le conseil de famille ont donn leur ac
165. oux doivent r fl chir avec le hange your marital regime during the course of the marriage couples who notaire sur l opportunit de signer un contrat de mariage et le choix de leur bre planning to wed should consult a notary to determine whether they should r gime matrimonial Aujourd hui sans contrat de mariage les futurs poux sign a pre nuptial agreement and decide on the best marital regime for them seront automatiquement soumis au r gime de la communaut de biens Under current law if there is no pre nuptial agreement the future husband and r duite aux acqu ts r gime l gal pour les mariages c l br s depuis le ter ife are automatically subject to a regime in which only those assets acquired f vrier 1966 since the marriage are considered to be jointly owned this applies to marriages that have taken place since 1 February 1966 Le r gime matrimonial fixe les droits et obligations de chacun des poux sur les biens et les dettes Les choix possibles sont nombreux et vari s Le droit fran ais offre aux poux des solutions r pondant a toutes les situations de famille de fortune et d ge Bien choisir avant de se marier est tr s important m me s il est possible de changer de r gime par la suite he marital regime establishes the rights and obligations of each spouse regarding the couple s property and debts The French legal system offers a ide range of options to cover all possible combinations of family ircumstances wea
166. pal residence or has been a resident of France for two years or more at any time Both French residents and non residents might have the benefit of the following discount which is applied to a gain made on the disposal of real property and is calculated by reference to the period of ownership e In the first five years of ownership there is no discount e In the following 10 years a discount of 10 a year is allowed with the effect that after 15 full years any gain is not chargeable to tax For example a property is sold after 9 full years of ownership Any gain in the value will be discounted by 40 calculated as follows e Years 0 to 5 no discount e Years 6 to 9 4 full years at 10 a year 40 e If the gain is 80 000 less 40 48 000 taxable gain at 16 tax 7 680 tax Certain works completed to the property might also be deducted from the gain providing that the work was completed by a company or firm and the claimed figure is supported by receipted accounts The cost of DIY work is not generally deductible however after five years of ownership the seller is allowed to add an additional 15 to the purchase price in place of the actual cost of works Work that is deductible includes extending the property renovation and improvement work such as a new kitchen or bathroom but does not include decorative works such as painting decorating and carpeting There are other deductions and allowances that are applicable in limited cir
167. partners who have been in a registered civil solidarity pact for at least two years enjoy an allowance of 57 000 Above that amount the tax authorities assess a 40 tax on the first 15 000 and a 50 tax thereafter We should note that in addition to these specific rules governing civil solidarity pacts a number of broader provisions are relevant as well For example the tax authorities forget gifts after ten years Once this ten year period has passed taxpayers may once again take advantage of the 57 000 allowance on gifts Tax reductions are also granted on the basis of the donor s age the younger the donor the lower the tax An additional reduction is awarded if the recipient of the gift the donee has more than two children For example let s assume a person under the age of 65 donates in fee simple an asset valued at 75 000 The gift tax liability will be 3 750 if the donor and donee have been joined in a registered PACS for at least two years Otherwise their tax bill for the transaction would be 22 050 Note that if these partners marry even one hour before the gift is made ithey pay nothing at all Lastly the tax rules governing estate tax are the same as those for the gift tax except that the age specific reductions are not applicable to estates The tax benefits allowances and lower tax rates become available as soon as the PACS is registered there is no waiting period Civil solidarity pacts should not be entered into
168. plir apr s la signature de l acte qu avant Vous avez vu lors du rendez vous qu il avait constitu un dossier volumineux pr alablement la vente Il a interrog notamment les services de l tat civil de l urbanisme du cadastre des hypoth ques et la banque du ou ve just signed the deed of purchase for your new home at the notaire s office You re now the owner Congratulations You leave the office with the keys and a head full of ideas but you don t have the certificate of title However the notaire has provided you with certificates of ownership which are very useful for various tasks signing up for water gas electricity and elephone service obtaining a homeowner s insurance policy registering your hildren for school These serve as a kind of temporary simplified certificate of title But why don t you receive the document itself right away hen you signed the deed of purchase the notaire explained to you that the eed of sale is published in the mortgage registry and you would have to wait several months before receiving the certificate of title and the permanent record of the transaction Why such a long wait It s important to remember hat the notaire must deal with as many formalities after the deed has been signed as before During your meeting you probably noticed that the notaire had compiled an enormous amount of information even before the sale took place He or she had been in contact wi
169. que notari e pour les statuts de la soci t et les cessions de parts pour viter des cons quences juridiques et fiscales f cheuses Le r gime matrimonial du commer ant ou de l artisan modifie la fa on dont la banque financera l entreprise notamment sur le plan des garanties Les investissements et la tr sorerie peuvent en tre directement affect s Owners of small businesses such as those in the retail trade and farming sectors share numerous concerns with part owners of a family business such as a limited liability company or even shareholders in major corporations hey need to make certain that the business can survive and if possible expand And when the time comes they need to ensure a smooth transfer of he business so as to guarantee its long term health and recover their investment Owners of any business regardless of its size face the same questions How an obtain the best results with the resources at my disposal How can obtain the most effective financing at the lowest possible risk What uarantees do need to give the bank or suppliers Do need to provide a Surety for the business Should operate as a sole proprietorship or as a orporation How much does it cost to start a company and which type of ompany should choose How should plan for retirement How can ransfer the business and to whom There are many critical factors that must be carefully studied before making a decision These inclu
170. que la loi de son pays d origine permette l adoption pour qu elle soit possible en France De m me si un couple mari non fran ais veut adopter un enfant il faut que la loi de leur pays d origine permette l adoption Il existe des conventions internationales relatives l adoption entre la France et certains pays Des organismes autoris s peuvent vous aider dans vos d marches Les proc dures varient selon le pays d origine de l enfant adopter Vous pouvez obtenir des informations aupr s du service des affaires europ ennes internationales du minist re de la justice Le parcours de l adoption est souvent long et difficile Il faut galement bien en mesurer les effets sur le reste de la famille Les cons quences patrimoniales et successorales doivent tre tudi es avec soin afin de pr server la fois les int r ts du nouvel arrivant et de la famille toute enti re N h sitez pas rencontrer votre notaire au sujet de ces diff rentes mani res d adopter Il vous en expliquera les cons quences juridiques et fiscales Vente et Achat Purchase sale file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm hild s nationality We are surrounded by people of different nationalities living in different countries and there is still no single law that is universally applicable Therefore it s very important to be certain that any documents prepared abroad a
171. r If this is not carried out the company can under the civil code be considered to be non existent with the resultant tax consequences It is important to understand that an SCI is a moral person and by not filing annual tax returns one can be assessed for a 3 tax on the market value of the property annually How to manage income received on a SCI When fumished property owned by an SCI is rented out itis considered a location meubl e The French tax authorities see this as a business activity as itis owned by a company the SCI and the relevant corporation taxes are imposed This becomes complicated when the owner of the SCI wishes to cease the rental activity This is viewed as a change in activity and thus generates an automatic capital gain taxation to which the relative corporate taxes are imposed However this problem can be avoided with correct planning little inconvenience and can save the owners taxation and money It is therefore best to seek the advice of a trusted tax lawyer or accountant in order to set up the correct structure to minimize your tax liability It is also essential to seek professional advice when planning to set file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 30 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS up an SCI Wealth tax is due on the net value of the shares of the SCI that means the value of the property less debt This even applies to non re
172. r estate agent A professional who represents the owner the buyer or the tenant during the sale or the rental of apartments buildings private houses business premises plots of land Please note that the agent immobilier is not to be the owner of the property that they offer for sale or rent They act as an intermediary and offer a service that consists of looking for a tenant or buyer with appropriate garanties financi res et juridiques legal and financial guarantees that correspond to the law of January 2 1970 By comparison the transaction between particuliers private owners does not carry a guarantee of any kind Haut du document Assembl e g n rale de copropriet general assembly of the co owners association file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 4 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Meeting which must be attended by all the members of a copropri t joint ownership association Members vote on the questions on the agenda and the decisions arrived at become part of the minutes The copropri taires joint owners must meet at least once a year in a general meeting Assurance RCP Responsabilit Civile Professionnelle Civil and professional liability insurance In the context of their professional activity estate agents property managers property merchants must be insured against the consequences of
173. r 27 07 09 2011 14 43 30 MEETING PEOPLE l gal legal statutory l gataire legatee L gataire residuary devisee and legatee lettre annexe covering letter lettre d avis advice notice lettre recommand e avec accus de r ception registered letter with recorded delivery licenciement dismissal from a company liquidateur liquidator receiver liquidateur judiciaire official receiver referee in bankruptcy proceedings liquidation winding up liquidation of a company liquidation de la faillite final settlement in bankruptcy proceedings liquidation de la faillite settlement of bankruptcy proceedings liquidation forc e compulsory liquidation liquidation judiciaire liquidation by order of court closing out or winding up of a company under court supervision liquidation judiciaire to be placed under a court supervised receivership litige dispute litigation litige commercial commercial dispute livre de comptabilit accounts book livre journal day book of company records location rental renting location g rance lease management loi law M Menu magasin shop main d oeuvre workforce majoritaire majority file Cl Documents 20and 20Settings station M aires documents LEXIQUE 20NOTAIRE 20GENERAL htm 18 sur 27 07 09 2011 14 43 30 MEETING PEOPLE mandat power of attorney proxy mandataire authorized agent representative proxy mandataire de justice a representative
174. r adopt est n cessaire Le futur adopt ne peut pas se r tracter apr s avoir donn son accord S il est mineur m me mancip il faut en plus l accord de ses parents S il est majeur l accord de ses parents est inutile Les personnes majeures sont toutes adoptables par adoption simple de m me que tous les mineurs remplissant les conditions pour une adoption pl ni re L adoption simple peut tre r voqu e par le juge la demande de l adoptant ou de l adopt s il est justifi de motifs graves par exemple alcoolisme grave inconduite scandaleuse extorsion de fonds ingratitude etc On peut commencer par une adoption simple et ult rieurement demander sa transformation en adoption pl ni re si les conditions en sont remplies L adoption pl ni re cette forme d adoption cr e galement un nouveau lien de parent entre l adoptant et l adopt mais coupe tous liens avec la famille d origine de More and more people in France are looking abroad to adopt a child Of the 3 000 children adopted in France each year about half are from outside the ountry In cases of adoption there are two types of situations that raise legal ifficulties In some instances the future adoptive parents are looking for a child abroad hom they can adopt in France Naturally they hope to make the proper arrangements to ensure that the child is truly theirs from a legal standpoint in erms of the child s separation from its or
175. rale il doit lui transmettre tous les d ailleurs pr vues par la loi Les tribunaux sanctionnent s v rement tout manquement du vendeur cette obligation g n rale Si celui ci cache une information importante l acheteur peut obtenir une r duction du prix ou l annulation de la vente dans les cas les plus graves Le vendeur est alors condamn au remboursement du prix et parfois au versement d indemnit s l acheteur qui a subi un pr judice frais de d m nagement de recherches d un autre logement Il est donc tr s important de respecter ces contraintes Or la liste des renseignements que le vendeur doit fournir l acheteur s allonge continuellement Les informations fournir sont de nature juridique et technique Sur le plan juridique le vendeur doit par exemple informer l acheteur de l existence de servitudes de passage de vue d coulement des eaux d hypoth ques ou de privil ges pris au profit d une banque pour garantir un cr dit ou d autres charges pacte de pr f rence ou contrat d affichage publicitaire Au plan technique le vendeur d appartement en copropri t a par exemple l obligation de fournir la superficie exacte du logement loi Carrez Le carnet d entretien obligatoire pour les immeubles en copropri t doit tre communiqu au futur acqu reur Le vendeur doit aussi dans certains cas informer sur la pr sence ventuelle de termites de plomb ou encore d amiante Le vendeur de terrain b tir d
176. rce and the division of your assets will affect your tax liability Your notaire will carefully calculate the taxes and other charges that you ll be required to pay HAUT DE PAGE file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 14 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm geste d amour et parcours juridique Cross border adoptions L adoption est d abord un geste d amour qui permet a la fois de donner un enfant a une famille et une famille a un enfant Sur le plan juridique adopter permet de cr er un v ritable lien de parent entre l adoptant et l adopt Ce lien n existera que si l adoptant le demande express ment et si un jugement du tribunal de grande instance l officialise L adoption est ouverte aux hommes et aux femmes aux c libataires g s de plus de vingt huit ans et aux poux mari s depuis plus de deux ans ou g s tous les deux de plus de vingt huit ans L adoption est galement possible pour un seul des deux poux s il a plus de vingt huit ans et avec l accord de son conjoint Toutefois si l un des poux veut adopter l enfant de son conjoint il peut le faire m me s il n a pas vingt huit ans Il est recommand de faire recueillir l accord du conjoint par acte notari afin d viter toutes contestations Les conc
177. re valid in France and that French documents will be recognised in other countries Prolonged legal disputes can delay the adoption and may even lead to costly and distressing legal proceedings Some countries have signed agreements ith France in an effort to smooth out these problems Before taking the initial steps in adopting a child from another country consult a specialist in family law your notaire He or she will evaluate your plans and tell you how you should proceed file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 16 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Acqu rir ou vendre un appartement une maison ou tout autre bien immobilier n est pas une op ration banale Les d cisions prises par chaque interlocuteur mettent souvent en jeu d importantes sommes d argent Le logement repr sente pour l acheteur le cadre de vie Le notaire est l pour vous aider prendre les pr cautions n cessaires afin d viter des erreurs parfois co teuses Il a pour mission de vous permettre de r aliser l achat en toute s curit tout en pr servant les int r ts du vendeur Buying or selling an apartment house or any other type of real property is not a trivial matter The decisions made by each party often put large sums of money at
178. receive your property income In order to open an account in France you have to bring the necessary documents listed below fill out the current account application form and the bank will send you your account details the so called RIB To open an account in France you need the following e Acopy of your passport or identity papers e Proof of address file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 5 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS e Acopy of your last 3 bank statements What is a RIB It stands for Releve d ldentit Bancaire bank account identity slip is provided by your bank and contains all the details about your bank account Bank ID identification of the branch holding your account account number control key cle RIB domiciliation and address of the branch It also includes your international Bank Account Number IBAN and the international bank identification code BIC This identification slip is designed for your French or foreign creditors and debtors who need to carry out operations on your account credit transfer payment etc Coast amp Country Group Updated 11 12 2004 Document non contractual Whilst every care has been taken in preparing this document Coast amp Country is not responsible for any errors Laws can and do change Before signing any binding contract we advise you to take legal and tax counsel advice by a professional in that field
179. rtgage Immeuble building Indemnit d immobilisation Indivision part share Location rental Location meubl e furnished rental Locations saisonni res seasonal rentals Loyer rent Mandat mandate Mandataire representative Mandant principal Marchand de biens property dealer or trader Notaire the equivalent of a solicitor or a notary Nue propriete bare property Particulier private owner Promesse de vente promise to sell Propri t immobili re real estate property Reglement de copropri t co ownership property regulations Soci t civile immobili re SCI real estate trust Syndic de copropri t co ownership property representative Syndicat des copropri taires co owners association Usufruit Valeur v nale market value Vente immobili re real estate sale Viager Acte authentique Contract that must obligatorily be drawn up by a solicitor to be published in the bureau des hypotheques and makes the contract open to file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 2 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat opposition by any third parties that is to say anybody at all including anyone not mentioned in the contract The vente immobili re real estate sale or the exchange must be the subject of an acte authentique Acte sous seing priv private treaty A simple contract between th
180. ry 2004 are described in more detail below 1 Partial exemption from the gift tax Gifts in fee simple of shares in a ompany or a sole proprietorship governed by a commitment to custodianship of shares will be partially tax exempt as in the case of inheritance This could reduce a taxpayer s total tax bill by as much as half The conditions of eligibility or this exemption have been relaxed the taxpayer must hold at least 20 of listed securities reduced from 25 2 New rules governing businesses gifts to staff The old system which ranted a reduction of 15 000 applied against the total tax bill upon authorisation of a gift of shares to a business s employees has been replaced by rules stipulating that gifts in fee simple of a business concern customer base or shares up to the value of the business or customer base are tax exempt The value of the business or customer base must be less than 300 000 the recipients must continue operations for five years and must be responsible for day to day management of the company 3 A reduction in the registration fees for any tax liable transfer of shares The base for this 4 80 fee is subject to a reduction of 23 000 proportional to the percentage of shares transferred If all the company s shares are sold the full 23 000 reduction is applied However this measure does not apply to ompanies whose assets consist primarily of real property New exemptions from the wealth tax
181. s accounts It s easy to see how important the choice of a regime may prove since the outcome can vary widely from one regime to the next How does a notaire settle the marital regime He or she begins by listing the ouple s property and any debts which constitute their assets and liabilities based on information they provide The next step is to identify each spouse s rights and obligations with regard to these assets and liabilities The notaire hen tries to get the couple to agree on a division of their assets and debts Everything must be analysed and calculated so that each party leaves with a file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 13 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm mutuel Le jugement de divorce ne peut alors tre rendu tant que les poux ne fournissent pas au juge un acte de liquidation de leur r gime matrimonial le projet de partage de leurs biens et le r glement de toutes les cons quences de leur s paration partage des biens et des dettes pension alimentaire prestation compensatoire garde des enfants C est aussi parfois le cas pour des personnes mari es sous un r gime de s paration de biens quelle que soit la proc dure de divorce utilis e Dans d autres situations la liquidation et le partage
182. s certains cas En effet si le document que vous avez sign pr voit que vous tes caution solidaire le cr ancier peut s adresser directement vous pour tre pay sans avoir solliciter au pr alable l emprunteur ou le locataire On dit que vous avez renonc au b n fice de discussion En revanche si vous tes caution simple la banque ou le propri taire doit d abord s adresser l emprunteur ou au locataire Par ailleurs si d autres personnes sont galement cautions du m me emprunteur ou du m me locataire votre situation varie selon les cas Une caution peut parfois se retourner contre les autres cautions Si votre engagement pr voit la renonciation au b n fice de division vous pouvez Let s say that a friend is asking the bank for a loan or is renting a flat The bank or building owner agrees to the transaction on the condition that your riend provide a surety In such a case you may be asked to render what seems a simple service It s a common situation But before you accept you need to consider the matter and learn more about the extent of your friend s obligations There are numerous complex legal requirements to keep in mind surety assumes the liabilities of the debtor the person who must pay in the event that the debtor fails to make good on his or her debt The surety must make monthly payments on behalf of the borrower or must pay the monthly rent on behalf of the tenant The creditor the person t
183. s own a gift between spouses can be used to enhance the surviving spouse s right to full ownership or to offer a combination of full ownership and usufruct If the deceased has children from a previous marriage the law gives fewer rights to a surviving spouse for whom the deceased spouse left no gift In this ase the surviving spouse is not entitled to usufruct but enjoys ownership rights limited to one quarter of the estate Clearly the provision for gifts to a Surviving spouse is especially attractive since it provides for the donation of more extensive ownership rights usufruct on the entire estate ora ombination of ownership and usufruct In each case the precise scope of the surviving spouse s rights to the eceased s assets are not established until the time of death Why Because he rule governing gifts between spouses allows the surviving spouse to make file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 6 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm le d c s de son conjoint au mieux de ses int r ts Ce choix d pendra notamment du nombre d enfants car la quotit disponible ce que le survivant peut recevoir de son conjoint disparu varie selon que le d funt a laiss un deux ou trois enfants et plus Ainsi avec ou s
184. s plus bonus year 20 2003 2004 7 900 Taxed as top slice of income assumes you are higher rate UK taxpayer This is the additional amount you pay the UK Revenue want to buy and sell regularly also want to divide up land into plots and do some new build You are likely to be outside these rules You are likely to be classified as a marchand des biens i e a property dealer which puts you under a different and higher taxing regime There is the temptation to try to come within the new rules here but it is high risk You may get away with it if the development is small and the overall sale price is file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 23 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS less than 50 000 so no tax agent is appointed and you have an understanding notary The best advice is not to chance it You will probably be better off using a UK company and relying on the UK France double tax treaty am interested in tuming i e selling a contract on before completion some new build contracts on a new development of Paris apartments With sharp price rises in better Paris postcodes last year and no notary fees investors in this market certainly got sparkling retums This is a specialist area though the use of an offshore company in a country with a suitable double tax treaty with France is likely to be the way forward understand the new rules only
185. s serment affidavit attribution assignment granting audience hearing by the court authentique authentic genuine autorit comp tente relevant authority avance sur nantissement advance against a pledge of collateral Avant contrat preliminary contract avis advice notice avis d cheance order to pay avis d expert expert opinion avis de r ception acknowledgement of receipt avocat barrister at law attorney lawyer avoir assets credit avoir social registered capital file Cl Documents 20and 20Settings station Me taires documents LEXIQUE 20NOTAIRE 20GENERAL htm 4 sur 27 07 09 2011 14 43 30 MEETING PEOPLE avoirs financiers financial assets Ayant droit B n ficiare Beneficiary ayant droit eligible person rightful owner for unemployed persons wishing to create or takeover a company B Menu bail alease a rental contract bailleur lessor renter bailleur de fonds financial backer sleeping partner of a business banque de commerce trade bank banque de donn es data bank base de donn es data base b n fice profit b n fice annuel annual profit b n fice brut gross profit b n fice brut gross profit b n fice net imposable taxable net profit b n fices des soci t s corporate profits biens assets property bilan balance sheet statement results bilan de liquidation faillite statement of affairs in bankruptcy bilan de liquid
186. side France 33 1 3 Y any price HAUT DE PAGE The Property Purchase Transaction in France file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 25 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS What happens next The parties usually sign an agreement to purchase the compromis de vente also known as the promesse de vente within about seven days of the purchase agreed At this stage you will be obliged to pay a deposit of 10 of the purchase price that will be held by the agent or notaire as stakeholder The purchase agreement can be prepared by your legal advisor the estate agent or a French notaire If a notaire is involved at this stage as the purchaser you have the right to choose the notaire you wish to act If the seller already has a notaire involved in the sale you are not obliged to instruct him and if you choose another he will assist your notaire and share the fee with him If you are not confident of your understanding of French language or French legal procedure it is prudent to get independent legal advice to protect your interests and to guide you through the process Remember it is not simply a question of the purchase of a property that you should consider there are important taxation and inheritance issues that you should deal with at the time If these issues are addressed at this early stage you can save money and worry in the long term How much will the fees and tax
187. sidents Assets are cumulated for wealth tax purposes This is not always clearly explained to foreigners French case law emphasizes that it is vitally important that records be maintained Note The UK currently is reviewing its treatment of SCIs as they have misinterpreted the French administration s notions of a French SCI There is considerable correspondence and confusion concerning this issue and the UK Inland Revenue service has agreed to suspend all litigation pending their review on this issue HAUT DE PAGE The French Certificat d urbanisme Planning Permit The Certificat d Urbanisme CDU is a certificate of town planning or urban development in France It states the rights attached to a specific property and the buildings on it with regards to their function and purpose future development and zoning of the property and the associated taxation on all land and buildings in the area A relev or matrice cadastraux available from the mairie for the area of the property in question states the current use of the land and the use to which it may be put For further information you may for free request a certificat d urbanisme There are two types of certificat d urbanisme e the certificate of information certificat de simple information This provides information on the existing rights for development of the property but does not tell you if it may be developed beyond what is already allowed e the operational certificate
188. ssets are divided between the spouses hat is the marital regime It s the set of rules established by law and chosen by the couple that structures the financial aspects of their relationship during he marriage and when the marriage comes to an end There are two ways of hoosing a marital regime The first is by signing a pre nuptial contract at the office of a notaire before the wedding Couples can choose a system of ommunal ownership communaut if they wish to combine their assets and ebts or a system of separate estates s paration de biens if they want to maintain their independence and autonomy Or they can opt for a system that ombines a joint ownership approach with independence known as articipation aux acqu ts in which only those assets acquired since the marriage are shared upon divorce The contract is highly flexible and can be ailored to the couple s circumstances with specific provisions The second ay of choosing a marital regime is to do nothing The couple is then automatically subject to the arrangement in which only property acquired since he marriage is considered to be jointly held communaut de biens r duite aux acqu ts But all too often couples choose this option not because they ant to but simply because they are poorly informed Regardless of the regime you choose divorce always leads to a settlement and a division of assets The rules contained in the marital regime will be used o settle the couple
189. stat concernera alors les biens construits avant le 1er janvier 1949 et situ s sur l ensemble du territoire fran ais Le risque pour la sant concerne promesse ou du compromis de vente ainsi qu au jour de la vente le constat doit avoir t effectu depuis moins d un an L amiante dans les mat riaux la recherche d amiante dans les mat riaux de construction n est obligatoire que pour les immeubles ou les parties d immeubles quel qu en soit l usage construits en vertu d un permis de construire d livr avant le 1er juillet 1997 Le risque pour la sant existe lorsque l amiante se d grade et lib re dans l air des fibres microscopiques qui lorsqu elles sont inhal es peuvent causer des cancers Les termites La recherche de termites n est obligatoire que pour les he seller of a house or flat has a general duty to inform potential buyers of everything he or she knows regarding the property French law now goes even urther and stipulates that a technical inspection addressing a number of specific issues must be performed prior to any sale of a home In most cases he seller is responsible for ensuring that this inspection is performed by a ualified firm that offers proof that it is covered by civil liability insurance In practice several inspections may be required What are they e need to distinguish between housing subject to co ownership condominium housing i e all flats as well as certain houses built in groups and
190. sted company subject to the corporation tax will receive a tax reduction equal to 25 of the interest paid on the loan This reduction is capped if the purchaser is single widowed or divorced the maximum reduction is 2 500 per year for those who are married or in a civil solidarity pact the maximum is 5 000 per year he law has other provisions as well Don t miss out on new rules that might lbe beneficial to you your business and your estate Be sure to consult your notaire As a specialist in estate and family law he or she can tell you more about the benefits offered by this new law HAUT DE PAGE R gime matrimonial du chef d entreprise Marital regimes for business owners Quel r gime matrimonial choisir Which marital regime should I choose file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 34 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Les poux et leur patrimoine sont soumis un ensemble de r gles juridiques Married couples and their estate are bound by a set of legal regulations appel es r gime matrimonial M me s il est possible de changer de r gime known as a marital regime r gime matrimonial Although it is possible to matrimonial au cours du mariage les futurs p
191. such a commitment lightly Find out more from your notaire As a specialist in family law and contracts a notaire can recommend an appropriate solution and provide information on the extent of your obligations Likewise if you are looking for a surety you should contact your notaire as ell It may prove difficult to obtain a surety and your security could go up in smoke Les d lais apr s signature You ve signed the contract What s next Vous venez de signer l acte d achat de votre nouveau logement chez votre notaire Vous tes maintenant propri taire F licitations Vous repartez avec les clefs et des projets plein la t te mais sans votre titre de propri t Toutefois le notaire vous a remis des attestations de propri t tr s utiles pour vos d marches administratives souscription des abonnements eau gaz lectricit t l phone d un contrat d assurance incendie inscription des enfants l cole Ces attestations repr sentent en quelque sorte un titre de propri t provisoire et simplifi Et pourquoi pas tout de suite le titre de propri t Lors du rendez vous de signature le notaire vous a expliqu que l acte de vente est publi au bureau des hypoth ques et qu il faut attendre plusieurs mois avant de recevoir le titre de propri t et le compte d finitif des op rations effectu es Pourquoi attendre si longtemps Il est important de savoir que le notaire a autant de formalit s accom
192. t loign ou dans l incapacit de manifester sa volont A l inverse dans d autres cas les poux voudront que le conjoint soit associ certaines d cisions pour que les chances et les risques de l entreprise soit partag s Toutes ces situations et bien d autres comme le divorce la survenance d un d c s ou la transmission doivent tre envisag es selon la situation de chacun au cours d un examen approfondi avec le notaire Il n existe pas de bon ou de mauvais r gime matrimonial mais il peut exister un r gime bien ou mal adapt vos besoins et vos d sirs Trois grands types de r gimes matrimoniaux s offrent vous la s paration de biens la communaut et la participation aux acqu ts Chacun de ces r gimes file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 35 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm peut tre personnalis par des clauses Il est toujours pr f rable de s informer avant le mariage surtout pour un actuel ou futur chef d entreprise Il est toutefois possible apr s deux ans de mariage de changer partiellement ou totalement de r gime matrimonial Un contrat est alors tabli par votre notaire Ce changement est soumis l autorisation du juge ce qui prend quelques mois et peut se r v ler di
193. t est envisag ny decision to buy a home without waiting for a final divorce decree depends Acheter un logement sans attendre le divorce d pend tout d abord de irst and foremost on your marital regime If you have no pre nuptial votre r gime matrimonial Si vous n aviez pas fait de contrat de agreement your marriage is governed by a joint regime joint ownership of mariage vous tes mari s sous un r gime de communaut communaut movables and property if your marriage took place prior to 1 February 1966 de meubles et acqu ts si votre mariage a t c l br avant le ler f vrier after that date joint ownership only of acquests i e property acquired since he marriage Therein lies the problem Joint ownership continues for as long file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 11 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 1966 ou communaut r duite aux acqu ts apr s cette date Les difficult s apparaissent alors Car la communaut dure tant que dure le mariage Jusqu au jugement de divorce tous les biens achet s par l un ou l autre des poux m me s par ment entrent en principe en communaut et appartiennent donc aux deux Ces difficult s sont d ailleurs les m mes si les poux ont adopt un r gime
194. t ou de panacher ses droits entre la pleine propri t et l usufruit Dans le cas o le d funt avait des enfants d une pr c dente union la loi r serve moins de droits au conjoint survivant non b n ficiaire d une donation entre poux Celui ci n a pas de droits en usufruit mais un droit en propri t limit au quart de la succession La donation entre poux est donc particuli rement int ressante car elle lui permettra soit de recueillir des droits en propri t plus tendus soit d exercer un usufruit sur la totalit de la succession soit encore de m langer propri t usufruit Dans tous les cas l tendue exacte des droits du conjoint survivant sur les biens du d funt ne sera fix e qu au moment du d c s Pourquoi Parce que la donation entre poux laisse le choix au survivant de choisir d opter apr s he law of 3 December 2001 on successions enhances the rights of a Surviving Spouse and updates several rules governing estate law In general he new rules apply to any death on or after 1 July 2002 Therefore if you have a provision that was made prior to this date leaving a gift to your Surviving spouse we recommend that you have your notaire examine the provision to verify that you will benefit from the recent changes French law now draws a distinction between couples who have no children land couples who have children from their own marriage or from a previous marriage If the couple has children of it
195. t pr iminaire which will provide details of the property to be constructed and a timetable for completion What are the usual conditions in the contract There is no hard and fast rule as the conditions must be adapted to suit the needs and circumstances of the parties and the property but the following are common Financial if the buyer requires a loan the agreement will be made subject to a mortgage being offered to him Satisfactory certificat d urbanisme confirmation of planning approval and confirmation of developments in the area of the property Properties constructed after a certain date and in specified areas must be inspected and a report prepared to confirm the absence of termites lead and asbestos It is important you discuss with your legal advisor or notaire any terms that you wish to see incorporated into the purchase agreement before signature after you have signed and paid the deposit may be too late Make certain that all the items you think are included in the sale are included There must be an accurate description of the property being sold in the agreement and you may wish to agree an inventory of small items with the seller There is no equivalent to the fixtures and fittings questionnaire as used in the UK It is best to be clear at this stage and avoid disagreement later What happens after contracts have been signed The title will be checked and certain enquiries made regarding items that might affect th
196. t some time You do not have to be a French tax resident when you sell the property You are only allowed this exemption once and you can rent the property provide it is vacant when you sell it How does this affect a non EU citizen who is a UK taxpayer Quite simply this two year exemption does not apply to them However a UK citizen who is an Australian tax resident qualifies file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 20 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS Any other exemptions Yes You are exempt from French CGT if you are in receipt of an old age pension or are an invalid This applies even if you are a non resident This is subject to some fairly detailed conditions set out in the tax code There are a number of other more detailed exemptions The main residence exemption which is similar to the UK one and which can only apply if you are French resident appears below How is the gain calculated for individuals This is best illustrated by an example which is one given by the French Revenue On 20th J anuary 2004 an individual sold a second home he bought 10 years earlier No particular exemptions apply He sold for 420 000 and bought it for 60 980 When he bought the property he had it rewired for 4 753 and changed the Central Heating the following year for 206 EUR Comments calories 120 000 Agent s costs can be deducted Other deductions are very limit
197. tat civil civil status tre d clar en faillite adjudicated bankrupt EURL Entreprise Unipersonnelle a Responsabilit Limit e private limited company under sole ownership execice fiscal taxable year exercice practice exercice budg taire fiscal year exercice commercial trading year Exigible Due exon r d imp t exempt from tax expertise expert testimony expertise judiciaire court ordered expert report exploitant agricole farmer exploitant agricole farmer extrait excerpt extract extrait certifi conforme authenticated abstract extrait d acte d tat civil birth death marriage certificates extrait d immatriculation au RCS certificate of registration at the RCS extrait du casier judiciare certificate delivered by the Ministry of Justice abstract of non criminal record from police records extra judiciaire extrajudicial an action taken outside of the court F Menu facture invoice bill Facture Bills Invoice faillite bankruptcy faire faillite to go bankrupt faire une expertise to evaluate something fiduciaire fiduciary filiale subsidiary branch office fin de l exercice end of the financial year fiscal fiscal tax FNGS Fonds National de la Garantie des Salaries national fund for salaried employees fonction office post fond de pouvoir authorized agent fond de pouvoir authorized representative proxy file Cl Documents 20and 2
198. ted before 1 January 1948 must have been inspected within the previous year A copy of this report must be sent to the departmental prefect 4 From 2005 All Septic tanks must comply with EU Regulations so it is worth asking for a certificate of conformity from the seller Purchasing Property in France file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 6 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS Notaires specialise in property and family law They are public officials authorised by the government to prepare private contracts and are there to assist you Any property transaction must meet the requirements of French and International Law Pre Sale Agreement A Pre Sale Agreement is a contract between the seller and the buyer which in effect freezes the property ensuring no one else can purchase that property The contract is normally valid for a few months during which time the Notaire will prepare the sale documents This process normally takes about 3 months but can take longer to obtain the necessary paperwork This agreement is normally signed within a few days after the buyer and seller have reached an agreement on the property sale This agreement obligates the seller to sell the property and the purchaser must provide a security deposit usually 10 of the purchase price when the contract is signed as proof of intent to purchase These agreements are normally prepared by your notaire T
199. tems it may be easier to agree an inventory to be attached to the contract file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 11 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS e See the Property Purchase Transaction page for a summary of the types of contract and common contract conditions The buyer will pay a deposit of 10 of the purchase price to the agent legal advisor or notaire on the seventh day of reflection after the signing of the compromis de vente which s he will hold as a stakeholder Can you withdraw from the sale agreement On signature of the sale agreement as the seller you are effectively fully committed to the sale should you withdraw you will be obliged to retum the deposit to the buyer and pay him a further 10 of the sale price even if you get a better offer after the sale agreement has been signed However you should remember that the position is different for the buyer Under French law the buyer has a cooling off period of eight days after signing the agreement In this period a buyer is free to change his mind should he wish and withdraw from the agreement He will receive the return of the deposit in full and the agreement is at an end Should the purchaser withdraw after the eight day period has passed the deposit will be paid to the seller What happens after contracts have been signed and the deposit paid The legal advisor or the notaire will deal
200. tes professional training for adults AGA Association de Gestion Agr e management and accounting assistance association for the professions Membership in an AGA qualifies the company for a reduction in taxes agent agr authorized agent AGIRC Association G n ral des Institutions de Retraite des Cadres confederation of executive pension institutions agr approved authorized agricole agricultural agriculteur farmer AM Assurance maladie health insurance ambulant itinerant salesman peddler amende fine penalty amiable amicable ANCE Agence Nationale pour la Cr ation et le D veloppement des Nouvelles Entreprises national agency for the creation and development of new business ann e year ann e civile calendar year ann e comptable accounting year ann e fiscale fiscal year ann e fiscale fiscal year ann e social business trading year annexe attached appended annexe d un document rider annonce announcement annonce l gale legal notice annuaire du commerce trade directory annuaire par profession trade directory anonyme anonymous ANPE Agence Nationale Pour l Emploi national employment agency APCE Agence Pour la Cr ation d Entreprises agency for the creation of companies APEC Association Pour l Emploi des Cadres employment agency for professionals apport contribution apport de capitaux contribution of capital apport de fonds
201. th the civil registry office zoning authorities the cadastral agency mortgage lenders and the sellers bank file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 22 sur 37 07 09 2011 14 43 23 file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm vendeur En effet chaque acte de vente d un bien immobilier appartement maison ou terrain est pr c d de la constitution d un dossier sp cifique quelle que soit l importance de la transaction Le notaire appelle cette phase du dossier les formalit s pr alables Apr s la signature de la vente un certain nombre d op rations les formalit s post rieures sont galement accomplies La plus importante est l enregistrement Elle a lieu au bureau des hypoth ques C est le moment o l acte est publi au fichier immobilier et o le notaire verse l administration fiscale les droits et taxes pay s par l acqu reur lors de la signature improprement appel s frais de notaire Par ailleurs le notaire fournit diff rentes administrations bureaux du cadastre des hypoth ques des copies et des extraits de l acte de vente Parmi ces documents une copie sp ciale appel e copie authentique sign e par le notaire sera retourn e celui ci rev tue des cachets de l administration fiscale Ce document constitu
202. the country where the property is located However if the property is owned through an SCI then the applicable law will be the one of the last country of residence of the deceased e Owning a home in France via an SCI means that the French property becomes part of the estate of their country as opposed to direct ownership of immovable property which is subject to estate law in France This is important to bear in mind in terms of inheritance 5 The terms of an SCI can be changed at any moment Disadvantages of an SCI While there are numerous advantages of owning a property in France through an SCI there are also a handful of drawbacks which should be considered Using an SCI to purchase a property will incur additional expenses No matter what property is purchased the future purchaser will have to pay purchaser s fees to the notaire On choosing to set up an SCI one should equally make provision for the registration expenses as well as its running costs The latter for example being the company s annual accounts As with any major financial transaction itis always best to get the advice of professionals in this case property law professionals Each case is different and requires individual and where possible an independent study into its necessity and feasibility Obtaining the assistance of a locally based professional will ensure that your are receiving the most relevant and current information regarding legislation SCI Accounting
203. the property or in the most serious cases annul the transaction altogether The seller is then ordered to refund the purchase price and in some cases pay compensation to buyers who sustained a loss such as moving expenses or the cost of finding new housing It is herefore very important to comply with these obligations And the list of information that the seller must provide to the buyer is constantly growing Generally this information is legal or technical For example from a legal standpoint the seller must inform the buyer of any easements on the property regarding passage through the property views water runoff etc mortgages or liens issued by the bank as security on a loan or other expenses right of irst refusal advertisement contracts With regard to technical information the owner of a jointly owned flat is required to provide the exact surface area of he residence under France s Carrez law The future buyer must receive a opy of the maintenance log carnet d entretien that is mandatory for any co owned buildings In some cases the seller must also inform the buyer if ermites lead or asbestos have been found on the property Parties selling land for development must specify whether the plot s boundaries have been marked and must inform buyers of any applicable zoning regulations and building options The building s immediate environment should be considered as well Is there a foreseeable risk of natural disaster in th
204. the rent the term of the lease and the erms and conditions for transfer of the lease Such leases include those for a period of less than two years known as a bail pr caire seasonal leases or leases on bare land that is not eligible for building Les r gles juridiques s appliquant au bail commercial sont nombreuses et complexes Les exceptions sont multiples Un contrat sur mesure doit tre tabli et non un simple contrat type Pensez aussi aux clauses relatives aux travaux aux charges la r partition de la taxe fonci re Propri taire ou locataire ne vous engagez pas la l g re Consultez le notaire sp cialiste de ces questions Il vous proposera la solution qui pr servera au mieux vos int r ts he law applicable to commercial leases is extensive and complex with many exceptions Such leases call for a custom designed contract rather than a mere standard form contract Bear in mind as well that the contract should ontain provisions regarding upgrades to the property maintenance and service charges and the allocation of property tax Whether you are an owner or a tenant don t commit to a lease lightly Consult a notaire who specializes in these issues Your notaire will propose the solution that will best protect our interests HAUT DE PAGE file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm 37 sur 37 07 09 2011 14 43 23 DOCUM
205. their mistakes Haut du document Bail lease rental contract A document that sets out the contractual relationship between the owner and the tenant Some of these are subject to special regulations depending on the wishes of the parties concerned as set out by the Civil Code These are also called contrats de location rental contracts Bailleur Landlord the person who rents The owner who rents the bien immobilier property file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 5 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Bail commercial business lease Rental contract for premises in which a commercial industrial or crafts activity is carried out Most of these leases are subject to the decree of 30 September 1953 and they commit the landlord to a minimum term of 9 years The tenant can terminate the contract every 3 years Bail d habitation residential lease Rental contract for premises used for residential or mixed usage professional and residential Most of these leases are for a main residence complying with the present standards for comfort and safety and are covered by the laws of 23 December 1986 et 6 July 1989 They commit the landlord to a three year minimum term The tenant can terminate the contract at any time with a 3 month notice period Haut du document Bail professionnel professional lease Rental contract for premises used exclusive
206. ticle file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 22 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS It seems unfair that pay no Capital Gains Tax in France but 40 in the UK How is the UK gain calculated Agreed in many parts of France this is a serious problem Many UK investors in say the Alps have made staggering gains which are exempt in France but potentally taxable at 40 in the UK UK CGT is worked out using UK rules You cannot claim any French exemptions Taking the example given above the UK CGT in pounds will be calculated as follows amp 40 used throughout for simplicity Sale price Purchase price Purchase costs Enhancement costs Gain before indexation Indexation Chargeable gain Taxable gain after non business Taper relief Annual Exemption Taxable gain Charged to CGT Set off French Tax Paid Amount in GBP 85 715 43 557 3 267 6 533 32 358 43 557 3 267 6 533 53 357 15 8 004 24 354 24 354 80 19 483 7 900 19 483 7 900 11 583 11 583 40 4 633 Additional payable in UK 4 633 2 474 2 159 Comments Using the French figure as this is likely to be close to real figure Using French figures Note UK Revenue may want actual figures From January 1994 141 3 to April 1998 162 6 162 6 141 3 141 3 15 From 6 April 1998 to 20 January 2004 5 complete tax year
207. tions nor establish one without knowing how to extricate ourself later on Moreover under some circumstances the by laws should be prepared as a notarial deed in order to avoid having them challenged in the uture especially if spouses or eventual heirs are involved and in this case a meeting with your notaire will prove essential Organiser son Patrimoine Organizing your estate Ne mettez pas tous vos oeufs dans le m me panier Don t put all your eggs in one basket En mati re de patrimoines petits ou grands il existe une r gle d or la les divers l ments d un patrimoine actifs financiers et biens immobiliers par exemple limite les risques de perte Certains l ments de votre patrimoine peuvent tre destin s a vous procurer des revenus tandis que d autres peuvent tre r serv s a votre usage Peut tre avez vous aussi des projets d m nagement retraite et vous voulez disposer de votre capital dans deux trois voire dix ans La composition de votre patrimoine devra tenir compte de ces exigences Le r le du notaire est celui d un conseil en organisation et en transmission patrimoniales Il diff re de celui des conseillers en gestion de patrimoine que sont les banquiers les assureurs et les gestionnaires de patrimoines ind pendants car le notaire intervient toujours dans le cadre d une approche globale du patrimoine de son client en assurant un suivi a long terme Il va ainsi l appr hender sous tous ses aspe
208. to Paris l d like to Know how long it takes Do you know when the train arrives Can you tell me how often the trains leave Could Showing understanding see Right I ve got that So the next train s half an hour Asking for repetition Could youu repeat that please Could you say that again Checking Let me check I ll look that up Apologizing I m afraid don t have any information about domestic flights Menu SOCIAL RESPONSES Thanks for all your help Thank you for your advoce file Cl Documents 20and 20Settings station Mes S cd 20notaires documents FICHES 20thematiques htm 13 sur 15 07 09 2011 14 43 31 It doesn t matter Asking for repetition Sorry Pardon Could you repeat that please I m sorry didn t catch that your name sking and giving permission May sit here Could use your phone Do you mind if open the window Refusing permission Could borrow your car Sorry but need it Do you mind if smoke Well I d rather you didn t Giving and passing things Have you got the tickets Could you pass the bread please Congratulations That s great Thanks You too Thanks and the same to you ASKING FOR HELP file Cl Documents 20and 20Settings station Mes S cd 20notaires documents FICHES 20thematiques htm 14 sur 15 07 09 2011 14 43 31 FICHES Sorry don t understand
209. two sorts of activity e one is regulated in a legal context where the surveyor is designated by a court to carry out a valuation e the other is open and concerns conventional surveys Fisc related to fiscality All the various government departments involved in the taxation procedure Fiscal Adjective relating to taxation and to the fisc Fiscalit fiscality file Cl Documents 20and 20Settings station M es documents LEXIQUE 20NOTAIRE 20IMMOBILIER htm 11 sur 21 07 09 2011 14 43 28 LEXIQUE Notariat Relates to the tax laws Haut du document Frais d acquisition purchase charges Total of expenses and entitlements following a vente immobilier real estate sale The buyer is generally responsible for these charges Purchase charges are essentially made up of different entitlements taxes and fees for getting various administrative documents and to a lesser extent the fees of the notaire solicitor In France the purchase charges are reduced in the case of a residential property and full in the case of a property to be used for a professional activity about 20 or VAT In the case of new property a building less than 5 years old the sale is termed without solicitor s fees that is to say that the charges are around 3 A special situation exists in Alsace Lorraine and in some of the French overseas territories DOM TOM To know the purchase charges ona real estate property it is advisable to consult
210. ubins union libre ne peuvent pas adopter ensemble un enfant L enfant ne peut tre adopt que par un seul des concubins qui est juridiquement c libataire Les partenaires d un pacte civil de solidarit PACS sont dans la m me situation II faut tre mari s pour adopter ensemble un enfant En principe l adoptant doit avoir au minimum quinze ann es de plus que l enfant qu il veut adopter sauf s il s agit de l enfant de son conjoint car la diff rence d ge minimum n est alors que de dix ans Le juge peut accorder des d rogations pour des carts d ge plus faible En droit fran ais il existe deux types d adoption l adoption simple et l adoption pl ni re et lorsque la personne adopter n est pas de nationalit fran aise on parle d adoption internationale Des r gles sp ciales sont alors applicables L adoption simple cette forme d adoption cr un nouveau lien de parent entre l adoptant et l adopt mais ne supprime pas les liens de parent existant entre l adopt et sa famille biologique Dans l adoption simple l adopt a deux familles L adopt simple et ses enfants et petits enfants ont vocation h riter dans les deux familles L adopt va ajouter son nom le nom de l adoptant Si le juge est d accord l adopt pourra m me porter le seul nom de l adoptant si celui ci le souhaite On peut demander une adoption simple quel que soit l ge de l adopt S il a plus de treize ans le consentement du futu
211. urs qu il s agisse d un compromis ou d une promesse de vente le notaire ins re dans chacun de ces actes des conditions suspensives Ces clauses pr voient que le contrat sera nul et que chacun reprendra sa libert si certains v nements surviennent avant la vente d finitive refus de pr t de la part de la banque de l acqu reur exercice du droit de pr emption par la commune d couverte d une servitude d urbanisme grave par exemple Le notaire sp cialiste du droit immobilier est tr s attentif la situation personnelle du vendeur et de l acqu reur situation matrimoniale proportions file Cl Documents 20and 20Settings station Mes 20documents AUDRALANGUES cd 20notaires documents base 20document 20th matique htm Let s say you re looking to buy a flat a house or a piece of land Perhaps with help from your notaire you ve already found a property that suits you perfectly ou don t want this opportunity to slip through your hands So you need to freeze things in place by signing a purchase agreement with the seller or an undertaking to sell But what does that involve hese contracts indicate that a secure agreement has been reached between a seller and a purchaser In general they are valid for a few months during hich time the notaire prepares the sale documents It takes about three months and sometimes longer to obtain the necessary information and documentation from government offices an identificatio
212. us engager dans un projet immobilier n h sitez pas prendre contact avec votre notaire Demandez lui un calcul pr visionnel des frais occasionn s par la vente Profitez en pour lui demander de calculer les autres frais ventuels pr voir en particulier si vous demandez un cr dit votre ou re planning to purchase or build a home You ve checked all the figures and you re wondering what kind of financing you can afford But don t forget he added costs you must bear In virtually every case the selling price for houses flats or land targeted for evelopment excludes the acquisition costs This means that the buyer pays all expenses relating to the sale hese expenses commonly referred to as notaire s fees are added to the purchase price but for the most part they re paid neither to the seller nor to the notaire So what happens to these famous fees The answer is simple they re primarily paid as tax The notaire is responsible for collecting them on behalf of he French government Taxes aren t limited just to what you earn income tax social security contributions etc and what you own property taxes wealth ax automobile registration The tax bureau also assesses a tax on real estate when it changes hands For example when you purchase a property worth 75 000 the acquisition osts you must pay over and above the price of the property amount to about 5 700 Taxes and disbursements fees r
213. with the agent will be either exclusive mandat exclusive or or non exclusive mandat simple Whichever you chose the fee will be the same and as a result almost all sales are on a multiple agency basis The agent s fee is usually about 5 to 6 including VAT atthe rate of 19 6 on the eventual sale price You can of course seek to sell the property yourself without employing an agent If you do use an agent you should seek reserve to yourself your right to sell the property There is a risk that if you do not you could be obliged to pay the agent commission even if you find your own buyer You have a buyer now what happens The purchaser will instruct a French notaire who will act for both parties However as the seller you can instruct your own notaire who will assist the buyer s notaire The two notaires will share the one fee As you may recall if you bought the property an agreement to purchase the compromis de vente or promesse de vente is uSually prepared and signed by the parties within a week or so of orally agreeing the sale with the buyer The sale agreement can be prepared by the agent or the parties legal advisor not necessarily by a notaire You should ensure that any terms you want are included in the contract and that you are clear that the buyer has properly understood what is and what is not included in the sale for example the dishwasher is included but you will be taking the sculptures from the garden For small i
214. with the formalities of checking the title and making enquiries of any developments intended in the vicinity of the property Depending on the age and the location of the property the seller might be obliged to instruct experts to provide a certificate after inspecting the property for the presence of lead termites and asbestos What is the role of the notaire HAUT DE PAGE Under French law the transfer deed the acte authentique to transfer the property to the buyer at completion must be prepared by a notaire The notaire will act for both the seller and the buyer though the buyer will instruct him and pay his fee There is nothing to stop you as the seller from instructing your own notaire who will assist the buyer s notaire and share the fee with him You should remember that the notaire does not represent the interest of either party in the transaction his role is not the same as for example an English solicitor in a file Cl Documents 20and 20Settings station Me cd 20notaires documents DOCUMENTS 20ANGLAIS htm 12 sur 33 07 09 2011 14 43 27 DOCUMENTS ANGLAIS property transaction You cannot assume that the notaire will speak anything other than French If you are unfamiliar with the French language and French legal procedure it is prudent to obtain independent legal advice and guidance from an English speaking lawyer or qualified legal advisor who can work in conjunction with the notaire What happens at completion
215. y are jointly responsible for the cost of housing and other day to day expenses courante et les d penses de logement Chaque partenaire peut librement Either partner is free to terminate the civil solidarity pact with prior notice of three mettre fin au pacte civil de solidarit apr s un pr avis de trois mois et months after complying with a few formalities quelques formalit s But how will a PACS affect you from a tax standpoint Its primary impact is on Mais quelles sont les cons quences fiscales d un pacs Elles touchent income tax and wealth tax as well as gift and estate taxes Those interested in principalement l imp t sur le revenu et l imp t sur la fortune ainsi forming a PACS should be aware of its potential impact on their tax liability before qu aux droits de donation et de succession Les candidats au pacs signing doivent bien conna tre ses effets fiscaux avant de le signer First of all with regard to income tax the partners are subject to joint taxation Tout d abord compter de l imposition des revenus de 2004 les beginning in the third year after they register their PACS In other words those personnes li es par un pacs sont impos es selon les m mes modalit s who registered a civil solidarity pact in 2000 will be taxed jointly on their 2003 que les personnes mari es income The tax return is signed by both partners and filed under both names Pour l imp t sur le revenu les partenaires font l objet d une imp

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