How to buy?
Buy in possession: Take precaution!
To buy a home between partners, parents or friends, the possession is by far the simplest solution: no complicated paperwork as with a SCI , no registration fees … But then: if dispute between the owners, the situation can quickly become blocked! But there are solutions “exit”, that must be established from the purchase of housing.
What is possession?
When you buy a property outside marriage, whether with your partner, friends or relatives, and you do not go to a specific formula (SCI Tontine), the purchase is considered a possession.
This means that two or more persons (called “owners”) are owners of the well up to their participation. Note that if the contributions of each are not specified at the time of acquisition, possession will be considered in equal shares.
Once the property (eg a home) purchased, each undivided has rights in the entire property. It is also supportive of all the operating costs of housing, and repayment of the loan for its purchase.
Why is it risky?
The possession is a simple formula, at least at the administrative level. But legally, it is based on a principle quite binding all decisions concerning the property must be taken unanimously. This, in case of disagreement, can quickly lead to a deadlock.
On the other hand, the Civil Code clearly states: “No one is required to remain in possession.” In other words, if one of the owners decides to sell housing, the other (or others) can not oppose it. For purchases within the framework of marriage, divorce is necessary to cause the sale, the ownership makes it possible to lower case!
Finally, if a partner dies, the other has absolutely no rights in its shares. Only the heirs of the latter become owners, and may in turn decide to sell the property at any time.
One solution: Convention in division
To remedy this instability, there is fortunately a solution: sign an agreement to possession with the notary. This agreement has an indefinite or definite period (maximum 5 years) allows you to include some security in case of dispute, separation or death, protect your partner or yourself.
There is for example possible to provide that for death, partner to acquire the shares of the other and becomes the sole owner of the dwelling. It is therefore protected from any supply of housing for sale by the heirs of the deceased partner.
The agreement also allows to circumvent the principle of unanimity: the owners may appoint a manager, and choose from the outset what decisions it might take only what decisions will be taken by majority vote, unanimously … These clauses provide to avoid problems that may arise in the future.
What is possession?
When you buy a property outside marriage, whether with your partner, friends or relatives, and you do not go to a specific formula (SCI Tontine), the purchase is considered a possession.
This means that two or more persons (called “owners”) are owners of the well up to their participation. Note that if the contributions of each are not specified at the time of acquisition, possession will be considered in equal shares.
Once the property (eg a home) purchased, each undivided has rights in the entire property. It is also supportive of all the operating costs of housing, and repayment of the loan for its purchase.
Why is it risky?
The possession is a simple formula, at least at the administrative level. But legally, it is based on a principle quite binding all decisions concerning the property must be taken unanimously. This, in case of disagreement, can quickly lead to a deadlock.
On the other hand, the Civil Code clearly states: “No one is required to remain in possession.” In other words, if one of the owners decides to sell housing, the other (or others) can not oppose it. For purchases within the framework of marriage, divorce is necessary to cause the sale, the ownership makes it possible to lower case!
Finally, if a partner dies, the other has absolutely no rights in its shares. Only the heirs of the latter become owners, and may in turn decide to sell the property at any time.
One solution: Convention in division
To remedy this instability, there is fortunately a solution: sign an agreement to possession with the notary. This agreement has an indefinite or definite period (maximum 5 years) allows you to include some security in case of dispute, separation or death, protect your partner or yourself.
There is for example possible to provide that for death, partner to acquire the shares of the other and becomes the sole owner of the dwelling. It is therefore protected from any supply of housing for sale by the heirs of the deceased partner.
The agreement also allows to circumvent the principle of unanimity: the owners may appoint a manager, and choose from the outset what decisions it might take only what decisions will be taken by majority vote, unanimously … These clauses provide to avoid problems that may arise in the future.
Namely: Therefore, only a judge could possibly decide to end the possession.
Namely: In the case of a fixed term agreement, the owners are related to an end. Therefore, only a judge could possibly decide to end the possession.
Buy Real Estate: first acquisition: new or old?:
The first purchase of a home is always difficult. The choice is between flag, apartment, neighborhood, types of loans, types of credit … And there is the question: new or old. With 126 300 units sold in 2006, the market is new attracts more buyers. But the former, which still represents 90% of sales, also has its advantages.
Buy Real Estate: first acquisition: new or old?
The first purchase of a home is always difficult. The choice is between flag, apartment, neighborhood, types of loans, types of credit … And there is the question: new or old? With 126 300 units sold in 2006, the market is new attracts more buyers. But the former, which still represents 90% of sales, also has its advantages.
To view the lists of ads you could come to a harsh conclusion: the purchase, the new is more expensive than the old one! Indeed, although the difference varies according to type of goods, the price of a new home is 15 to 20% higher.
The former entail other costs, it is important to take into account:
The maintenance cost is higher. Know that the seller must inform you of the costs of maintenance, in the case of an apartment, check the owner of the building.
A large consumption of energy in general enjoy a lower thermal insulation, the old housing to consume twice as much, including heating, as new housing. As of November 1st, the seller is obliged to provide the technical diagnostic kit, which includes information on: energy performance, the diagnosis of lead, asbestos, termites …
Acquisition costs (solicitors and taxes) are 2 to 3% for a new home (excluding VAT) depending on the number of housing construction program in question, against 7 to 8% for the former according to the formalities, checks and costs incurred by the notary.
Funding: no real difference
Whether for the new or the old, different types of loans available to you. The only distinction is made according to the project tenure.
For your primary residence, you will get the loan, the most interesting and which can be combined with other types of loans such as PAS (Ready to social access).
If is a rental investment: You can claim the loan, but can enter into a PEL, a PC and, of course, the conventional bank loans.
Taxation: VAT and 5.5% tax credit for the former
The difference between new and old lies mainly in the tax advantages. To encourage the acquisition, several measures differ depending on the nature of housing. Voici les principales : Key:
New Home:
You will be exempt from tax for 2 years.
you receive a deduction of 65% on your income land: 8% per year for 5 years and 2.5% per year for 10 years.
Dwellings:
You can do work (expansion, renovation, up to standards) with the benefit of exemption from tax (variable duration depending on the nature of work), a 5.5% VAT and a tax credit 15%.
If you put it for rent, you can enjoy a 40% reduction on your income property.
The real question: what life choices?
If programs for the construction of new homes are increasing in all regions, the price is often high and the waiting time is long. In large urban areas where these programs are more scarce and more expensive, the former remains a preferred solution. The dwellings have the advantage of being in all areas: searching, you can find in the city center at a reasonable price, especially with better recovery over time. Les travaux que vous pourrez effectuer contribueront à cette valorisation. The work that you can contribute to this recovery.
If you want to get away from major cities, however, you can always find new non-property premiums, and benefit from a quiet, comfort and equipment standards that the former may not necessarily offer.