I have recently purchased a property that is currently on leaseback and the first 9 years is due to expire in September this year. I do not plan to sign another leaseback contract but wish to use myself and also rent privately. In this situation, who has to pay (if anyone) the TVA - the seller, the b uyer or a bit of both?
Thanks
Andy
Given the amount of complaints about leasebacks I suggest
that we start a Facebook group for lease back owners. The
advantage with Facebook is that it is free to use and it
searches very well in Google. I'm not sure how long our
complaints will be tolerated here given the forums
involvement with leaseback sales.
We have seen in recent weeks how Facebook groups have
been instrumental in getting the message across and
causing major headaches for companies and governments.
Hi boys and girls,
A quick question. Are owners making use of their allocated weeks eligible to be charged taxe de sejour ?
Paul
Hi,
We have both a current account and a mortgage with a
French bank. We're very dissatisfied with the bank in
question who seem to randomly make charges on our current
account and are very unresponsive when we have questions.
We're thinking of closing the current account and
directing the management company to pay our rent into a
non-French bank account.
However, we seem to remember being told when we were
buying our property that in order to have a French
mortgage, you had to maintain a French bank account.
I am very fortunate to have some very good assistance in dealing with my leaseback matters and tend to keep most things close to my chest on my personal matters.
However if any of you receive a bill for the above, do not pay it without taking proper advice!
Most ex-leasebackers who rent privately (of which I am not one) are being asked to pay the above tax meaning that you operate your property rental as a individual business (enterprise). All seems fine you may think.
hi new new member
Interested in resale leases in the Cannes,Nice,Sainte Maxime area, Have been told no VAT to pay
Regards
Swannie
I have just (18 Dec) taken delivery of an off plan leaseback apartment. Although the apartment itself is fine (a few areas arn't as in the Notive Descriptive so I think I have to tell the developer by registered letter within one month?), the furniture package isn't.
I would be very interested to find out any information about CGH's actions towards/at the end of the lease. I own a leaseback apartment built by MGM, managed by CGH (their subsidiary). Recently the owners have been sent a request by CGH to fund the cost of new flat screen televisions for each of the apartments. The residences association has said "no" but we were quite astonished to have been asked in the first place as this is not our responsibility under the lease.
Just wanted to say hello. I own a leaseback purchased off plan from MGM in 2005 and managed by their management company CGH under an 11 year lease. I opted for rental up front as a discount on purchase price to avoid cash flow risks. So far I would say it has gone well, with the property well managed and after 5 years of use the apartment still looks like new. The management fees are quite steep but no more than I expected. I do have one big issue though - when I purchased the apartment I reserved a parking space in a separate parking building that was yet to be built.
I have been asked by the developer to provide "non occupying owner insurance" when I take delivery of my leaseback property.
What exactly does this cover and can anyone recommend somewhere to purchase this?
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