Buying alone - inheritence?

[fledermaus]

Another question! (Thanks to those who have helped so far)

My husband and I have signed the compromis together, but now think I should buy our place in France alone, due to his previous children and the fact that all the equity came from me.

a) is it possible to change things after both signing the compromis?

b) what happens if I die, can my husband stay at the property? (We have 2 children, but they are only young, so if I died unexpectly they would not be able to take on property). Or what arragements can be made so he can remain there as long as he wants to?

Thanks for any tips, I have read various articles on this, but am still rather confused... I will of course talk to the notaire, but would appreciate hearing any experiences people can share.

 

 

 

[Teamedup]

You really need to talk to at least one notaire about this, but I would contact your notaire asap if you want your paperwork changing.

 

If the property is in your name alone, then then when you die it passes to your children. If you are a french resident then the law that came in a year or so ago should protect your husband's right to remain in the property. Although I would ask about 'usufruit' which would mean that your husband would have full use of the property during his life time in the case of you dying first. He would be able to live in it, or get the rent from it, the only he thing he would not be able to do is sell it.

[Will]

I'm not saying what you want can't be done, but French law makes it very difficult to avoid inheritance tax by putting property in only one partner's name. The situation is different if you are a non-resident as you can achieve this through vehicles like an SCI (a property owing company) though this has disadvantages as well as benefits.

Also, it can make things difficult if there are significant differences between the compromis and the acte de vente. Do as TU says and take legal advice  - preferably from more than one source.

[Tourangelle]

I have friends who have a separation de biens marriage contract, because of the job one of them does, it means that they are not liable for each others debts and I think this means that they can own propery separately. So perhaps this is something to ask your notaire about.

I think it is no longer the case that the spouse receives nothing if there are children, you always had the right to do as you wish with a part of your property and leave it to anybody you like and for a couple of years now the spouse has been considered a legal heir (good from a tax point of view). I know it has not always been the case, but it certainly has been from 2003 - my (French) father in law died then and we had to deal with the whole inheritance thing.

[Debra]

'Although I would ask about 'usufruit' which would mean that your husband would have full use of the property during his life time in the case of you dying first. He would be able to live in it, or get the rent from it, the only he thing he would not be able to do is sell it.'

 

I understood this couldn't be done if there were children from a different relationship than the current one.  Are you saying it can be done if one spouse buys the property, giving usufruit to the other, even if the spouse buying the property also has children not from this marriage?

[Debra]

or can it be done in this case because the spouse buying the property only has children from the current marriage?

[Teamedup]

This is my personal view on this, and that is all it is, a notaire may well tell you that I am talking out of my backside, and if I am, please let me know.

 

As it is you with the funds to purchase the property, then I don't see why you shouldn't be able to buy this in your own name. And this property upon your death will pass to your children.

The law changed in the recent past and spouses got some protection and in theory your husband should be able to live in the property or rent it out and get the proceeds from the rent until his death. Prior to this then the property would have passed directly to your children in these circumstances and they could have kicked him out and sold it. To stop this happening people used to take the option of usufruit, which more or less does what the new law does.

And back to me personally, I would still make out a usufruit, so that it is clear that that was my intention.

 

You really do need to see a couple of notaires and see what they say, make a list and do not forget to go over every point. IE what happens if you die and the children are minor etc etc.