If you intend to buy a property in France, it is very important to anticipate the different ways to buy before signing the definitive contract.
Only a lawyer, specialist in International laws (notaire, avocat, solicitor) , can advise you about the best way to do according to your wishes, that’s why it is very important to have a consultation before the completion of the sale.
To learn about the process of the sale in France read our post 5 key steps to buying a home in France
Here is a non exhaustive enumeration of the options you have :
- MAKING A MATRIMONIAL CONTRACT
The purpose is to give a better protection to the surviving spouse in case of death for more information please read our post « Matrimonial regimes and inheritance ».
- TONTINE
If you buy with another person (spouse, partner for example) the effect of the « tontine » is that, at the death of the first of you, the property belongs in full property to the survivor.
Pay attention to the tax consequences and get some expert advice.
- SOCIETE CIVILE IMMOBILIERE (SCI)
May be relevant if several persons buy together because the management of the property is easier than under joint ownership.
It can also be a way to avoid the very restrictive French inheritance laws because the shares of the SCI are considered as moveable property, not real estate.
But it is not a miracle solution because the French Courts may decide that the SCI has been set up with this in mind and cancel its effects.
This solution has also to be discussed with an expert before the completion of the sale.
- MAKE A WILL
This can be done after the completion of the sale. For more information read our post Why would you need to make a will ?