Hi, I just thought I would let everyone know that there is a petition on Chris McKay's facebook page, set up by the French group of leaseback and toxic properties owners.
There was also a very good article by Cian Molloy on one unfortunate leaseback owner and the dangers of these properties, from the Sunday Times, 20th of Nov.
Chris is booking his full 15 weeks allowance, I will do the same. Everyone should do this and maybe after 1 year of this we may be free.
Patricia
Hi,
for those of you who have the Irish edition of the Sunday Times from 20.11.2016, there is an article on leasebacks and the perils of buying one by journalist Cian Molloy which you may be interested in.
It is on page 10 of the Move supplement.
The online version is behind a paywall.
My father and I co-own an apartment within a CGH residence in Champagny. Our leaseback contract will be expiring shortly, and we're keen to explore options.
We're pretty new to the leaseback game (property purchased through auction mid-lease), so I was hoping someone could shed some light on a few questions we had:
- Are there any penalties for NOT renewing a leaseback contract?
- How much notice should be given?
- Which ongoing fees are still applicable?
Dear All,
I have recently issued an indemnity of Eviction order to our management company, In order for them to hand over our keys to our property. They have requested a payment equivalent to three years Gross rental income. In most cases this will equate to a much larger figure than the rent they have been paying us.
Is anybody else in the same situation, i.e have paid an Indemnity of eviction fee ? To Pierre et Vacances or any other management company.
Hi,
I had been under the impression that completing tax returns in France for a leaseback property meant no further action was required with the revenue service in Ireland (country of residence).
Having been told that this is not the case, I got in touch with a tax adviser and was told that a hefty bill awaited us for this year's return (and therefore for previous years also I presume).
A 3rd call for information on this French leaseback scandal.
2 simple questions:
1. Are there any owners out there who have now concluded legal proceedings in France (or elsewhere)
alleging fraud/mis-selling during the sales process or at some stage thereafter ?.
2. Are there any leaseback owners out there who have been successfully sued in France (or elsewhere) by any party alleging that they were somehow at fault and who have had a judgement successfully served on them in either the UK or Ireland ?.
Hi,
I have an offer to sell my leashback. I have acceted an offer well be it's original value. Painful has it is I want to wash my hands of this place and move on. So my question is I bought this is 2008 and was told the VAT repayment was not an issue because some law had changed etc etc. Now seeing the sales people at P&V kept quite about a lot of other stuff, I am now wondering am I OK to sell up and walk away with the new owner taking over the lease. After reading some other posts on this forum it is quite easy to get worried with anything to do with leasebacks.
Dear All here is the following letter Brian Crowley MEP received when I asked him to take up the case of Leaseback. If the contents of the letter are true then it is quite disturbing…Seamus might comment. I have asked him to have this verified, I will update you all when I hear back.
Hello,
I intend to buy a new leaseback property. I need advice about French income tax, or even UK an US too, as I'm not sure whether my UK/US tax situation is affected. Can anyone recommend a good source to advice? I am a UK citizen working for a US company.
I have a leaseback in Les Contamines in the French Alps. First lease was from December 2004 for nine years.im in second 9 year period and considering whether to try and sell or to hold. Unsure of what will happen at end of second lease period? The TVA refund will be almost expired. Nemea are management company and unsure what will happen to residence are this time assuming many owners may wish to exit leaseback scheme?
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