English
FrançaisHello,
Can i ask what may be a stupid question. At what stage can a sale/leaseback property be sold as a freehold , not a touristic apartment.
I am 10 yearts in and lease is up for renewal . I have not signed anything yet. I would like to offload if possible.
Regards,
Sean
You can sell it at anytime but if you have a lease with a management company then this will continure in perpetuity and you may find it difficult to seel with a leaseback in position. Your only other option is to pay the eviction indemity compensation that the management company will demand and then put it on the market umencombered.
Thanks for that info. When you say impertuity... does it not run out after 20 years . If a new management group have taken over and i have not signed anything ??
Sean
Perpetuity sorry
Hi I am sorry but in pertepuity means for life - the lease never ends unless you pay the management company an Eviction Indemnity as dictated by French Commercial law - even if you have not signed anything the lease will automatically renew after whatever period you intially signed up for 9, 11 etc, and continue to indefinately - the only way you can get out of a leaseback is to issue a conge to the company stating that you do not wish to renew your lease with them, this must be done using a bailiff. After that the management company have two years to respond, during these two years they will still have use of your house. Before the end of the two year period you will probably recieve a summons and a bill. This is not what people want to hear but this is the reality of the leaseback system that teh French Government set up - it was a con and they shoudl be ashamed.
This article clearing points out where you stand in French Commercial Law - https://fightleaseback.com/faq/
Hello,
Can anyone tell me whether they have used the 'Fight Laeasback' company of lawyers that help you get out of your leaseback obligations under French Commercial law that had all the odds stacked up against owners ?
Thanks
NK
The property can only be sold as freehold when you are out of the lease, then you will still have to pay the remaining TVA back to the tax people when you sell it
Yes I too would be interested to know whether anyone out there has used the "Fight Back" lawyers mentioned above. Their article about different ways of getting out of the lease etc is very interesting and offers a small degree of hope!
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