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Post by Deleted on Apr 28, 2010 17:42:08 GMT
I have heard that if someone who is not a French National, wants to buy a house in France, that it's fine, but they will not be able to hand it over to their kids once they pass away. Is this correct? Does the government have the right to take that property once the owners pass away?
How does this work in other countries? Does it make a difference if you are a European citizen? Or do you have to have the citizenship of the particular European country where you purchase the house?
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Post by onlymark on Apr 28, 2010 18:45:34 GMT
I think there are two points. The first being how do you qualify to be able to buy a house and land and then what is the inheritance law for when you pop your clogs. I think throughout Europe you can buy one if you are European without much of a problem. I just had to get a residence number to buy mine in Spain. That was easy enough when I showed a passport. But as to what happens to it after I die, I haven't a clue. I'll have to look into that now you've got me thinking.
I think the inheritance law varies from country to country more widely than the eligibility to buy somewhere.
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Post by onlymark on Apr 28, 2010 18:54:45 GMT
Just had a quick look for Spain It seems as a British national the Spanish authorities will respect a will I made in the UK. In effect if I want to leave the house to a cat charity, I can. But if I don't make a will then the Spanish law applies. This is that -
Spanish succession law restricts your freedom to leave your assets to anyone you please. This is designed to protect the family and provide for the children, and requires a parent to leave two-thirds of his estate to his children, even by-passing the surviving spouse.
A surviving spouse gets to keep: All assets acquired before the marriage Half of the goods acquired during marriage All personal gifts or inheritances which have come directly to them
When a person dies leaving children, the estate is divided into three equal parts. One-third must be left to surviving children equally Another third must also be left to the children, but the testator can decide how to divide it. A surviving spouse has a life interest (usufruct) over this third. The final third of the estate can be freely willed to anyone.
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Post by bjd on Apr 28, 2010 19:38:13 GMT
I have heard that if someone who is not a French National, wants to buy a house in France, that it's fine, but they will not be able to hand it over to their kids once they pass away. Is this correct? Does the government have the right to take that property once the owners pass away? Who did you hear this from? I just vaguely googled and found a site saying that inherited property depends on the laws of the land in which the property is located. And there seem to be different possibilities for EU residents and others. But given how many foreigners buy in France, I'd be very surprised if kids wouldn't be allowed to inherit property owned by a foreigner.
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Post by Deleted on Apr 28, 2010 19:49:32 GMT
I heard it from someone who lives in Europe. He's quite familiar with the laws there. But I just wanted to clarify it. I know that in places like India, foreigners are not even allowed to buy property at all, so I guess it all depends on your citizenship.
I remember baz once stating that in France his kids have to (by law) inherit a certain portion of his property and only a small amount can be willed to someone else. He is of course a EU citizen. I think it is different if you are not one.
That's very interesting, Mark. It's good to know these things, and it's good that you are a European citizen, otherwise another law might apply completely.
As a Canadian and a EU citizen I am able to leave everything to my kids, including any property that I own overseas. Although I'm not sure how my overseas property would be inherited...have to look into that.
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Post by onlymark on Apr 28, 2010 20:42:09 GMT
The only other law that would apply, if I wasn't an EU citizen, would affect my eligibility to buy the thing in the first place. It doesn't really matter what nationality you are when you die, if you own it the law of that country dictates what you can leave to whom. So in France, no matter if I am Siberian or German, when I die a portion must go to my children, if I have any and if I was allowed to buy in the first place.
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Post by onlymark on Apr 28, 2010 20:47:29 GMT
I have heard that if someone who is not a French National, wants to buy a house in France, that it's fine, but they will not be able to hand it over to their kids once they pass away.
I heard it from someone who lives in Europe. He's quite familiar with the laws there.
Either he got it the wrong way round or it got twisted somehow. But I do bear in mind what I said about the Spanish authorities respecting a UK will, maybe it is the same in France, that a will from another country can override their requirements. Don't know.
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Post by Deleted on Apr 28, 2010 21:11:20 GMT
As far as I know, French inheritance law would prevail for anything owned in France. In France, you cannot disinherit your children (legitimate or otherwise).
If you have one child, the child must inherit 50% of your property no matter what, and you can leave the rest to whomever you want (including the child of course).
If you have two children, each child must receive 33.33% of your property, and you can leave the rest to whomever you want. Three children = 25% each + 25% for whomever you want... etc.
Past a certain age (I'm not sure what age), you can't even sell your house without your children's permission.
Some cultures disapprove of this.
Naturally there are all sorts of rules for "donations" to children or other people before you die, but they are really quite generous when considered by those of us who are not wealthy.
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Post by Deleted on Apr 28, 2010 21:13:29 GMT
Quote:
In France, there is a law that foreigners can not inherit land they bought to their heirs, once they die it falls back to the government, but this is not the case in Spain.
hmm....well that is the direct quote from the person. But I will look more into this and get back to it. Even if this is the case in France, then there must be loop holes to get around it...
I must say that I am surprised that the Spanish government will uphold a will made in another country and actually override their own laws in favour of it.
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Post by Deleted on Apr 28, 2010 21:17:43 GMT
I don't think that is true of France at all. Just thinking of all of the things owned by the royalty of the Middle East and other places, we would certainly have heard of it if any of those families lost anything when the old guy died.
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Post by Deleted on Apr 28, 2010 21:18:29 GMT
I actually like those laws the French have put into place. In the UK for instance, if you have 3 children, you can leave everything to the one and nothing to the other two. This to me, is very unfair. Of course the two kids who get nothing can contest the will, but that is a lot of trouble and expense..
However, what I wanted to know was if you are not a French Citizen (or maybe it should be you are not even European), then can the government take your house after you die, ever if you want to leave it to your kids?
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Post by Deleted on Apr 28, 2010 21:21:24 GMT
Oh okay, I've just read number 9. I will look more into this.
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Post by Deleted on May 9, 2010 17:03:53 GMT
Some further information, for those that may be interested: Quote: Inheritance rules in France are rather complex and quite restrictive as well, especially with respect to real estate. Regardless of the owner's legal residence, the disposal of biens immeubles [real estate] in France is subject to the regulations of French law. The impact of these laws can often be quite different than that to which we, in the US, are accustomed. In many cases, rules of inheritance favor children or other family members over spouses. There are ways of ensuring one's wishes after death are followed, but doing so is not a simple matter. One popular, but not uncomplicated, way to deal with inheritance issues is to purchase the property through a limited corporation called a société civile immobilière or SCI. Simply put, since shares in a company are classified in France as biens meubles [personal property], they are not governed by restrictive French inheritance and taxation regulations. Thus, the disposal of real estate purchased through such corporation is not subject to the same stringent laws as is property classified as biens immeubles. All in all, it is advisable for the prospective homeowner in France to seek legal advice regarding inheritance issues before purchasing.www.slowtrav.com/france/planning/real_estate.htmand www.about-french-riviera.com/french-succession-law.html
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Post by Deleted on May 9, 2010 17:44:27 GMT
Yes, that is pretty accurate. A lot of local scum also use the SCI laws to get around the inheritance laws.
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Post by Deleted on May 9, 2010 17:49:31 GMT
I actually think there is a lot to be said for French inheritance laws. I wonder why they don't have anything similar in the UK and other countries. I wonder what bought these laws into place in the first place.? They make sense to me.
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