The process of buying a property in France is riddled with technical steps and legal issues, most of them different from those in the U.K. and the U.S. First of all, a Notaire is a mandatory part of the process in France. The Notaire drafts the key documents-- the “promesse de vente,” the “acte de vente”, etc. Important to keep in mind is that the Notaire’s main job is to draft documents and to check title, but not to explain the contents of those documents or to discuss ways of structuring the real estate holding, nor to suggest alternatives and their legal consequences. In addition, there are numerous tax and inheritance implications of owning a property in France. Each and every step of the transaction and its tax and inheritance implications should be understood BEFORE you put your signature to any document. Because of this, the need for a lawyer’s input on the intricacies of the system is essential, for residents and non-residents alike.
The Okoshken Law Firm provides customized counsel/assistance to purchasers or sellers of French real estate, including interfacing with the Notaire, vetting the contracts pertinent to the purchase transaction, advising on the pros and cons of possible holding structures and on collateral issues such as wealth tax, tax on rental income, capital gains on sale, inheritance tax at death, forced heirship rules, bequests to family members, etc. They also advise on the consequences of fractional ownership. The Okoshken Law firm also advises on general tax matters and prepares U.S. and French tax returns for their clients, as well as addressing other “expat”-related matters such as business planning, estate planning, employment agreements, etc.
Flat Hunter has chosen The Okoshken Law Firm to care for you, our international clients, because the firm emphasizes personalized service and boast 30 years of experience in local and international legal and tax issues. The firm employs accountants and French and U.S. lawyers who are members of the French Bar, as well as one or more Bars in the U.S., as well as accountants and tax consultants. As customer service is of great importance to Flat Hunter, it is important that you receive the best service from our Partners as well. One of The Okoshken Law Firm’s most well known and respected qualities is its customer service.
Flat Hunter’s partnership with The Okoshken Law Firm provides you with access to guidance on:
26 rue Marbeuf
75008 Paris
Tel : +331 42 56 54 20
www.Okoshken.com
