When 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!
Hi
Following my request to the local tax office for a list of co-owners i have received a reply:
"in any event,we cannot issue all the details of owners for an entire co-owned property.
Is it your legal right to have the details?.Or is it,which seems usual in France,that if they don't like it,they ignore it!Even the Government tax office!
John
This thread has been set up for owners of the above development to establish a contaact group. Please ID your self by property number.
This thread has been set up to establish owners of this development. Please ID yourself with your property number.
Hi all, I have a leaseback property which I bought five years ago, and to date have received all rental income payments. My question is , if I put it on the market for sale , what tax / % am I liable to pay? i.e. capital gains..I reclaimed the v.a.t. also, do I pay back 3/4 of the v.a.t. amount given I am 5 years through the 20 year term.Any other taxes I would be liable for?
Basically if the property I bought was 200,00. I recouped 40,000 odd through vat refund. If the value has,nt changed , what would I expect to clear after taxes/vat once sold??
If leasebacks didn't have a bad name already,its going to get a lot worse when Jim Moore from INSIDE TRACK and INSTANT ACCESS PROPERTYS gets involved!Both companies are in liquidation.He targetting the same mugs who bought into his buy to let,no money down,for his "OWN A £1MILLION HOME IN FRANCE-FOR NOTHING" scheme which has a full article in the Mail on sunday.
He's claiming that the vat rebate(20.4%)used as the deposit and the rental "guarantee" will cover the outstanding mortgage.
So you have been sold a 5% yeilding property by an agent.
You will be encouraged to sign the lease with a management company and all is well. However now you have paid most of your deposit the management company has had to change. Its name is Tinpot plc, a new cokmpany with no assets and only a 1000 Euros of capital. Rents the fax, hoover and dishcloth.
Hi
I am looking to contact Irish owners in this development in Juan Les Pins.
Please contact me if you are an owner.
Hi !
We just bought a property in the south of France under a lease back scheme and would like to know if anyone could recommend a good accountant who can deal with our tax forms?(not too expensive one!).
Thanks in advance for your replies.
Browny.
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