Choosing Succession, Insuring Your Rental and a Nice Nice Property For Sale
French Property Insider Volume XIII, Issue 16 Thursday, April 16, 2015 • Paris, France
Don't miss a single issue of French Property Insider! "Whitelist" French Property Insider by adding "firstname.lastname@example.org" to your address book.
FREE FINANCIAL FORUM!
Thursday, April 23, 2015
Sponsored by the Adrian Leeds Group Presentations and Q & A by Dunhill Financial
Join us for one or both sessions with Brian Dunhill and his team for an in-depth look at how American citizens deal with the ever changing regulatory environment and financial challenges and take a look at the future of the economy how that affects your future!
Upstairs at Le Café de la Marie On the corner of rue des Archives and rue de Bretagne, 75003 Paris Métro Lines 9, 3 et 11, stations Temple, République or Arts et Métiers See map here
On August 17th of this year, the European regulation adopted July 4, 2012, will allow you to choose the law of the country that will govern the succession of your property. This regulation is applicable throughout the European Union except the United Kingdom, Ireland and Denmark.
Currently, the criteria determining the applicable laws governing an estate differ from one country to another. This may be the laws of your last domicile as it is in France, or the law of the deceased's nationality, as it is in Italy.
As of August 17, 2015, the estate of a person shall be governed by the law of the country of his last residence, unless there is a will in testament to which a nationality refers.
This option has the advantage of stability since the change of residence does not challenge the settlement of the estate. Otherwise, at every change of residence, one would have to learn about the local rules of succession.
Several conditions must be met:
- the person must first choose the law of the country of which he is a national; the nationality that he has when making the choice or at the time of his death;
- the choice must be described in a will,
- the chosen law may be that of any country, a member of the European Union or not.
GUARANTEES FOR THE LANDLORD AGAINST NON-PAYMENT OF RENTS
An agreement between the State and "Action Logement" (formerly knowns as "1% Logement") was reached in four areas of action for the period of 2015 to 2019. It changes the guarantee of a rental rate to help provide access of certain individuals to rental stock.
An owner of a rental property can be insured against any unpaid rent, damages and expenses for which the tenant could be responsible. The landlord may choose any insurer for a policy called "GRL."
Instead of "GRL," "Action Logement" guarantees the rents for certain tenants: young people under the age of 30, those with a CDD employment contract (contrat à durée déterminée -- limited contract), an intern or apprentice and during their probationary period and employees on permanent contracts. The regulations for the benefit of the unemployed is still being discussed.
This five-year agreement should be signed soon for entry into enforcement in January 2016.
NICE IN NICE FOR SALE
Parler Nice Apartments - Le Matisse
I am headed to Nice as I write this! There is a happy renter in "Le Matisse" I want to meet -- so I will stay in a nearby hotel while my tenant has use of my apartment. This is the burden an owner must bear, if they want to maximize their return or simply keep their property occupied and well-maintained. Rentals are now being taken for the Summer holiday season.
The spacious two-bedroom/two-bath apartment that shares the same entry with Le Matisse was recently put on the market for sale:
FOR SALE: LA COTE DU PARADIS in Nice!
This luxurious two-bedroom/two-bath Riviera apartment is in the heart of the Carré d'Or district of Nice, just behind the Meridien Hotel on rue Masséna near Place Masséna and the new Promenade de Paillon...has been a successful rental apartment on Parler Nice Apartments and is NOW HOT ON THE MARKET!
This property is also for the right person or family who wishes to make Nice their home. Located on the third floor of a Niçois bourgeois building, sharing the same entry as "Le Matisse," south facing for lots of light all day long. It has everything anyone would wish for: large living room/dining room/kitchen, two spacious bedrooms (one with its own balcony), two full bathrooms (one with large tub, the other with large shower), fully equipped and decorated by mosaic artist Véronique Husson and Interior Designer Martine di Mattéo. In perfect condition, ready to move in!
P.S. Own a fraction of an elegant studio on Ile de la Cité in the center of Paris."Le Notre Dame" has been entirely restored to include its original centuries-old wood beams, fireplace and antique touches. There are only two shares left. Don't miss out on this incredible opportunity! Visit Le Notre Dame for more information.
FOR SALE: NEW LISTING IN THE 7TH ARRONDISSEMENT
Located in a prestigious and much sought-after neighborhood, this elegant two-bedroom apartment has been completely renovated and is move-in ready. Light and bright and well laid out, it’s perfect for a family of four.
5, rue José Maria de Heredia, 7th Arr. UNESCO/École Militaire Ref. #006
To peruse all of our current properties for sale, visit AdrianLeeds.com. And if you have a property you wish to sell to our North American/Anglophone market, do not hesitate to contact us at Contact@AdrianLeeds.com.
Copyright 2015 Adrian Leeds® Adrian Leeds Group® adrianleeds.com PAdrian Leeds® is a registered trademark in France. INPI: March 10, 2006, #063416238. Adrian Leeds Group® is a registered trademark in France. INPI: December 22, 2014, # 14/4144068. Anyone using these brand names or any kind of advertising without permission may be prosecuted. AdrianLeeds.com, AdrianLeedsGroup.com and AdrianLeedsEnterprises.com are reserved domains for exclusive use of Adrian Leeds® and Adrian Leeds Group®.