Selling my interest in a house

[tenniswitch]

I've had an offer for my share (half) of a house from a 3rd party.  The other owner of the house seems ready to agree to the sale.

I know that there've been some changes in the laws/rules for property sales since we originally bought the house.  Could someone please point me to any websites where I might find more information.  Of course, we will be talking to our notaire, but I would like to have some background.

Thanks.

[pachapapa]

Is it in indivision or SCI.

http://www.planete-patrimoine.com/Gestion-de-Patrimoine/Articles-Patrimoniaux/achat-immobilier-indivision-sci.html

http://www.planete-patrimoine.com/Gestion-de-Patrimoine/Articles-Patrimoniaux/concubins-immobilier-indivision-sci.html

[tenniswitch]

I'm afraid that you've overestimated my command of the French language, but I think it's in indivision.

[Patf]

This question has been asked in different versions from time to time.

The general answer seems to be that you can't just sell out your share.

The whole thing has to be sold as owned by the original partnership, and re-bought  by  the new partnership.

Then any surplus funds transferred from the new part-owner to you (the old part-owner.)

This has to be all recorded in a new Acte de Vente.

I stand to be corrected on this.

[Iceni]

Patf

That sounds like fun - if the house has increased in price does the owner who does not want to sell have to cough up only to be repaid on completion? And what if CGT is involved?

John

[Judith]

When my sister bought me out of my share of the indivision on the house we owed jointly, we did not have a full acte, but something called a Licitation, and of course she had to pay me my share.   This might have been because we "acquired" the house by gift from our father,  who had also to approve of the change (no problem there), and of course the notaire was involved.  It was a small document, and the costs were  not excessive.

Sorry, but I cannot be more precise as the files have just been moved to our new house, but the computer is still in the old one, so I cannot at this moment check the details.

So, a full acte may not be needed, but the consent of the other indivisor(s) would certainly be required. 

EDIT: just read the original post again.  Maybe when it is a third party buying a new acte may be needed.  But the notaire willknow I am sure!!

[mint]

Judith, so the files have been moved to the new house and have YOU moved to the new house as well?  Or are you in the old house, using the computer there?  LOL

Just want to say Good Luck and Lots of Happiness in the new house!

[Judith]

Sweets,

Many thanks!  We have spent the last month (or even 5 weeks) shifting things (books (loads) files (loads) , china, small furniture etc), but have yet to get the telephone fixed up, or the furniture moved, so we are still sleeping in the old place.  (And it will be going on the market as soon as the redecoration is finished).  We are hoping for a quote from a removal company tomorrow - so slowly we are getting there.  Mind you, as soon as we had moved the money over from the UK the rate went up, and then just as we could have done with cool weather the summer finally  arrived --- butwe are (still) getting there.  There is a gite attached to the new house which we don't really intend to use except for our own visitors and as space to expand, but it was let by the precious owners (and being good we honoured the existing contracts), and they have only just left, so we haven't really rushed to move in properly..... but I shall be glad to stop travelling over every day, even if it is only 20 mins drive.

Now, if you were ever to find yourself in this neck of the woods, ..... it would be good to see you .....  how is your house buying project going - buy the house that is right for you, not just as an investment, hey ???/

[Judith]

duplicate post  - why does seem not to have posted, and then you find it did, and then you can't delete it .....

[tenniswitch]

[quote user="Patf"]This question has been asked in different versions from time to time.
The general answer seems to be that you can't just sell out your share.
The whole thing has to be sold as owned by the original partnership, and re-bought  by  the new partnership.
Then any surplus funds transferred from the new part-owner to you (the old part-owner.)
This has to be all recorded in a new Acte de Vente.
I stand to be corrected on this.
[/quote]

Well, here you stand then, as I met with the notaire today, and he assures me that it is permissible and that he is prepared to proceed with drawing up the paperwork for the sale as soon as the other owner signs a form stating that his agreement with the sale.  I expect things to be "en train" within the next couple of weeks as, fortunately, all involved parties are in France at present.

Of course, I understand that there are different ways of owning property in France.  Perhaps, "par hazard", we just happened to stumble into the one that allows for this sort of sale.

[Patf]

Just shows the notaire knows best on these things!

As you say, there must be different ways of owning property in France.

Did the notaire say how to decide on a price? Or do you just negotiate with your co-owner?