English
FrançaisWhen i bought my leasebacks,regretably i didn't use an English/French independant solicitor!Because if i did i could easily sue him for the omissions in the contract.
1)Possible penalties for exiting the lease at the end of the 9-11 years
2)3,6,9 year break clauses that tennant can exercise with 6 monhs notice.
Interestingly people that did use an independant solicitor also wern't told of these clauses!So they could easily sue!
On the advise of the agent,we just used the notaire,who by the way was usless,he got dates wrong,sent papers twice and only paid a 1/3 of the furniture package!
When we arrived at the notaires office in canne,we were shown in to a waiting room.Already in the waiting room was an elderly French gentleman who starting chatting in broken English.When the secetary called us into the notaires office this elderly gentleman followed in behind us!Apparently he was our interpretor!.Never asked for,never told,when i got home i got a bill for 350 euros!
So thats the funny side!But what are the Notaires responsibilities?
We were in his office no more than 10 minutes.We confirmed our names,ages etc.,developers name etc.,Buying price,length of lease and dates.
At no time were any penalties for exiting the lease mentioned.
At no time were the 3,6,9 year break clauses mentioned.
I know people are going to tell me his main function is to collect taxes on behalf of the French government.But whats the point of him going though the process if he dosen't point out major clauses,after all he knows it is a commercial lease!
Regards
John
Regards
John
Just Received a phone call from my Notair in Canne regarding my purchase of 2 leasebacks in 2003.We had a lenghty discussion regards the 2 clauses i.e Exit penalties and 3,6,9 year break clauses that i said that he failed to mention!.He says:
1) He only acted for the purchase of the freehold property which has to be notarised in French law!
2)The legal agreement with the management is not notarised and wasn't part of his duties!
So that explains why we were in his office 5-10 minutes,because it was the freehold purchase agreement we were going through and not the management lease agreement!
I am still confused!Could i have asked him to notarise the lease,for an extra fee of course?
But at least he did phone me and explained the situation!
Regards
John
John
have a look at this link:
http://www.notaires.fr/notaires/notaires.nsf/V_TC_PUB/COMMER CIAL-LEASES
Did any one else just use a notaire for the completion of there leaseback property?
Is the Notaire correct in saying that he only dealt with the Freehold purchase and not the management "bail commercial".
I must concede,that 6 years on,i can't remember if i signed the "bail commercial" at the same time or a different date!
Regards
John
John
There was a notaire's representative at the signing of my bail commercial. In addition, why is there a page pertaining to bail commercial on the notaire's website (illustrated in my last post) if they only deal with freehold issues?
As we approach Easter this behaviour reminds me of a certain Pontius Pilate washing his hands at a crucial stage in proceedings.
John
Just found this.
http://www.notaires.fr/notaires/notaires.nsf/V_TC_PUB/ENGLIS H-HOMEPAGE
It says "My Notaire Advises me"
"My Notaire ensures my projects are secure"
Bail commercial is listed in the list of responsibilities
Looks like everyone is using misleading advertising!
Juan Azur,
Thanks for the info on the French notaires site.
I have registered my complaint with supervisory notaire!
I will post when i get a reply.
Regars
John
Where a leaseback purchaser lives overseas, French Notaires usually
notarise the Acte de vente (Deeds), not the reservation contract or the
'bail commercial'. A Notaire does not have to notarise a 'bail' for it
to be legal. Indeed most 'baux commerciaux' (business leases) are
simply signed by Landord & Tenant without the notaire's presence.
Such contracts, signed without a notaire legalising signatures, are
called 'actes sous seing privé'. They are perfectly valid. For a lease
to be notarised, Landord & Tenant must personally attend a
signature meeting before the same notaire, in France. Needless to say,
this rarely happens when buying a leaseback property... The lease is
then called 'bail authentique'. The only advantage in having a
notarised lease resides with the fact that the lease is considered as a
legal Title, not just a contract, thus payment of the rent can, under
certain conditions, be directly enforced upon Tenant (the leaseback
company), e.g. by seizure of the leaseback company's assets, without
having to enter Judgment first.
http://www.solicitor.fr
cordiez39858.7526388889
John,
I found this by Googling:
Le notaire en vertu de sa qualité d’officier public est tenu d'informer et d'éclairer les parties sur la portée et les effets, notamment quant à ses incidences financières, ainsi que sur les risques de l'acte auquel il prête son concours, et, le cas échéant, de le leur déconseiller, sans que leurs compétences personnelles ni la présence d'un conseiller à leur côté ne le dispensent de son devoir de conseil.<?:NAMESPACE PREFIX = O />
Il a un devoir de conseil et de protection des intérêts des personnes qu’il représente et doit attirer leur attention sur les problèmes éventuels.
which, as a rough translation states:
The notary, by virtue of his status as a public officer, is bound to inform and enlighten the parties as to the extent, effects, particularly as regards its financial impact, and risks of the deed in relation to which he is acting and, where appropriate, to advise them not to proceed. Neither the parties’ personal competences nor the fact that they are accompanied by an advisor shall exonerate him from his duty to provide advice. <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
He has a duty to advise and to protect the interests of the persons whom he represents and must draw their attention to any potential problems.
Regards
Pam