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Top Tips When Buying To Let In France

18 August 2009

Buying to let properties in France may seem like the best of both worlds for couples seeking long-term investment rewards and a retirement bolt-hole - but beware of the pitfalls, says Kent debt recovery specialist Martin Kingman.

Martin, who heads the debt recovery and insolvency team at leading regional law firm Furley Page, explains: “Renting properties in France can be an attractive option but what happens if relationships with tenants turn sour? The legal system in France differs greatly from England and Wales. France has a codified civil law which means it’s condensed into one document known as the French Civil Code.”

Martin’s top tips to bear in mind are:

  • the debtor is sued in the country they reside in unless another is specified in the agreement;
  • seek advice so you understand the time limit on bringing a claim. In France this is called prescription and is generally 30 years but there are exceptions. (In the UK limitation is usually six years.)
  • It’s advisable to send a letter before taking action. In France, the Mise en Demeure (MeD) has the effect of triggering interest immediately on a claim. (In the UK where the claimant is a business and the debtor an individual, the Letter before Action (LBA) - must advise the debtor to seek independent legal advice, point out where this can be obtained free, and allow them 14 days to respond.)
  • The MeD should be written in French, and must be sent by registered post and include the full name and address of the debtor; amount of the debt and the relevant currency; details of the creditor; a brief description of the sum owed and why; the deadline for a response; and mention article 1153 of the French Civil Code to allow interest to be claimed.

For further information on debt recovery contact Martin Kingman, Debt Recovery Manager on 01634 828277.

For information about owning property in France, French succession and French Wills, contact Sarah Bogard, Partner and Head of French Property Services. 

 

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