Hello All,
I completed on my apartment two years ago now, and I have just received a threatening demand from Chaine & Asociés (Notary) asking for funds that they overpaid to me. I am not the only one that have received letters demanding money (court action on non-payment) from them.
I am considering purchasing french lease back at Evian Les Bains ,south side of Lake Geneva . I found the development through
Pat Creevy,Managing Director,Charles Oliver Ltdwww.charlesoliver.co.uk
I have very little understanding of the Lease back system, and non of the site, other that the information availiable on the net .
For the sake of argument, let's say I have no joy getting my rent from the current management company and the lease is broken. Other than selling, the options are to run the property myself or find another management company. Do I need a management company and a lease to retain the property's leaseback status? Or, do I just need to demonstrate that the property is being rented to keep my VAT refund?
When i bought my leasebacks,regretably i didn't use an English/French independant solicitor!Because if i did i could easily sue him for the omissions in the contract.
1)Possible penalties for exiting the lease at the end of the 9-11 years
2)3,6,9 year break clauses that tennant can exercise with 6 monhs notice.
Interestingly people that did use an independant solicitor also wern't told of these clauses!So they could easily sue!
Hi
Following my request to the local tax office for a list of co-owners i have received a reply:
"in any event,we cannot issue all the details of owners for an entire co-owned property.
Is it your legal right to have the details?.Or is it,which seems usual in France,that if they don't like it,they ignore it!Even the Government tax office!
John
This thread has been set up for owners of the above development to establish a contaact group. Please ID your self by property number.
This thread has been set up to establish owners of this development. Please ID yourself with your property number.
Hi all, I have a leaseback property which I bought five years ago, and to date have received all rental income payments. My question is , if I put it on the market for sale , what tax / % am I liable to pay? i.e. capital gains..I reclaimed the v.a.t. also, do I pay back 3/4 of the v.a.t. amount given I am 5 years through the 20 year term.Any other taxes I would be liable for?
Basically if the property I bought was 200,00. I recouped 40,000 odd through vat refund. If the value has,nt changed , what would I expect to clear after taxes/vat once sold??
If leasebacks didn't have a bad name already,its going to get a lot worse when Jim Moore from INSIDE TRACK and INSTANT ACCESS PROPERTYS gets involved!Both companies are in liquidation.He targetting the same mugs who bought into his buy to let,no money down,for his "OWN A £1MILLION HOME IN FRANCE-FOR NOTHING" scheme which has a full article in the Mail on sunday.
He's claiming that the vat rebate(20.4%)used as the deposit and the rental "guarantee" will cover the outstanding mortgage.
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