30 French Property News August 2019 http://www.completefrance.com
someone else owns a penthouse with ski locker
and garage? Well, the size and facilities of your
home are taken into account when calculating
what percentage of the common area you own.
This share is expressed as a fraction, usually
a tantième (a part of 10,000 or even 100,000).
The more shares you have, the greater your
financial contribution to the communal coffers
but also the greater your voting power at the
annual general meeting when owners decide
on the annual budget and the priorities for
maintenance. At this meeting, owners also
appoint their syndic and elect a small group
within themselves to advise the syndic.
Details specifying the level of ownership of
each apartment and what constitutes private or
common property is set out in a rulebook
called the règlement de copropriété. Your
apartment will have a lot number which will
appear in your buyers’ contract and title deed.
The rulebook is important, says Matthew
Cameron, head of French legal services at
Ashtons Legal. “It will drill down into the
details of every cable and pipe, wall and
terrace,” he said. “It is prudent to review the
rulebook and the AGM Minutes and accounts
for the past few years before buying an
apartment so that you understand what your
rights and responsibilities would be. You
should also be able to establish if there are any
pressing works that may be necessary in the
near future, or whether there any other
apparent problems with the whole property.”
Paperwork, processes and prices
Most of the nitty gritty of buying and owning a
French property is the same whether you are
going it alone or in a partnership.
For example, French banks do not impose
stricter mortgage-lending criteria on sole
borrowers than on couples, says Fiona Watts of
mortgage broker International Private Finance.
“In fact, because there is only one person’s
financial and personal circumstances to
examine, there is typically half the paperwork
so you may get approved in half the time!”
One complication of renting, especially if you
are young or on low income, is that you may
have to provide a guarantor for the rent and if
so, that guarantor must be a French resident.
Even if you are buying a property with a
partner, it’s important to think ahead to the
challenges you might face in the future, says
paperwork specialist Madeline Aveson, of
Aquitaine Lifestyle Solutions.
“We recommend that people keep single
accounts as well as a joint account as this can
be blocked upon the death of a spouse,” she
says. “Put both names on the car papers to
avoid transfer issues if a spouse dies and make
sure that both names are on all utility bills.”
Charlotte Macdonald, an associate solicitor
specialising in cross-border law at Stone King
urges sole owners to make sure they have a will
in place in France to ensure their property
passes as they wish on their death.
“If a person dies without a will then French
rules of intestacy will apply. If the person is
unmarried without children and they want a
favourite godchild or friend to inherit, it’s very
important to have a will in place,” she says.
Inheritance laws in France mean that at least
a proportion of a deceased person’s estate must
be passed down to the children, the whole
amount only going to a spouse if there are
none. But under a piece of EU legislation
known as Brussels IV, UK residents who own
French property can specify in their will that
they want the law of their country of
nationality (e.g. England and Wales) to apply
to their French assets.ANNETTE’S TOP TIP
“Owning a dog is an amazing ice-breaker, but
even if you don’t have a dog, you can meet
people through walking one for the local SPA.
There are many thousands of beautiful dogs
in rescue shelters in France. Through dog
fostering, dog walking and volunteering at
local dog clubs you’ll meet so many
wonderful people.” Visit la-spa.frAnother future scenario to consider is the
loss of mental capacity through an accident or
long-term dementia,” says Charlotte. “If you
have moved across the Channel without a
partner or family support network, make sure
you set up a power of attorney in France,
authorising someone to look after your
personal and financial affairs if need be – sell
your house for you, for example, or arrange
funds to pay bills on an ongoing basis.”
Although some French institutions will
accept a power of attorney document made in
the UK, most will not, says Charlotte, so it’s
worth visiting a French notaire and asking then
to set up a mandat de protection future.
Single residents in France don’t generally
have the tax advantages of married or civil
partnership couples, says Debbie Bradbury, of
English-speaking French accountants Sareg.
This is because income tax returns and wealth
tax returns are filed per household, not per
person. “However, if a resident is elderly, or has
a low income, then there would normally be
allowances related to reduced habitation tax,
or an exemption from habitation tax,” she says.
“The family allowance/benefits office (CAF)
can also provide other benefits for single
people, disabled people, the elderly etc
according to certain situations and criteria.”
When it comes to affordability, it’s good
news across the board for solo buyers. Average
house prices in the vast majority of
departments are lower than in north-east
England, the most affordable region of the UK,
especially away from the coast and major cities.
So whether you are buying a home with
someone else or going it alone with your French
property dream, there is every chance that you
will find ‘the one’ in la belle France. On y va! Almost four in 10 expats in France are singleGetty Images/Digital VisionAnnette Morris with SkypeEXPERT ADVICE