News from the Chambre de Notaires of Paris and France
Volume XX, Issue 16
ZERO RATE LOAN ON PRIMARY RESIDENCES
While it was supposed to end in December 2021, the Prêt à Taux Zéro (PTZ) has been extended until 2022 and continues until the end of 2023.
The PTZ is a complementary loan that allows you to finance part of the purchase of your main residence. It is granted without interest but subject to resource conditions. Its duration is 20 to 25 years with a deferred repayment of five to 10 or 15 years. However, it is reserved for first-time buyers and those who have not owned their main residence in the last two years before obtaining the loan. While it was supposed to end in December 2021, the PTZ has been extended until 2022 and continues until the end of 2023.
The PTZ is intended for people residing in the national territory and having modest or intermediate resources. It is the N-2 income (reference tax income) that is taken into account for the granting and the calculation of the maximum amount of the PTZ, as well as the number of people in the household and the price of the new or old property (with refurbishment). In addition, there is a ceiling on the amount of the operation. The PTZ is between 20 and 40 percent of the price of the property according to a division of 4 zones of the national territory. An example is given by the ADIL. A couple with two children who purchase a new home for 270,000 euros in zone B1 will be eligible for a loan of 108,000 euros (270,000 x 40 percent).
2021 ANNUAL REPORTS OF THE NOTARIES OF FRANCE AND THE SUPERIOR COUNCIL OF NOTARIES
The annual reports of the notaries of France and the CSN retrace the key figures and highlights of the notarial institution in 2021.
An Editorial Note by David Ambrosiano, President of the Superior Council of Notaries (Translated)
2021, for the almost 16,800 Notaries of France, was an unusual year, far from the usual reference points. In the service of the French, more inclined than ever to change their lives, we have absorbed the catch-up of an eventful year 2020 and, no doubt, have taken a certain lead over 2022 as many projects have accelerated in all directions (moves, but also investments, family transfers, decision-making in the life of companies…).
Such activity has required adaptations: the offices have been strengthened by the recruitment of new staff, and their workforce has reached a peak of 64,200 employees.
Notaries have also completed their digital transition: 90 percent of authentic deeds are now signed and stored in electronic form. A symbolic milestone, the profession’s digital archives – the holy of holies, which stores deeds in electronic form – was recording 20 million authentic deeds at the end of October, preserved forever. At this rate, the 25 million mark will probably be reached before the end of 2022.
They have also adopted new habits, and have offered their clients even more remote authentication or the signing of deeds in offices located in different geographical areas. Beyond the commitment of each notary and each employee to the service of clients, the profession as a whole has acted in the collective interest.
Thus, its mission of information and advice has been further strengthened, for example with the Semaine de l’Immobilier deployed nationally and in the regions. By reinforcing the “Notaires Infos” telephone service and making it widely known, the notariat has confirmed its vocation to listen to the French people, throughout the country, just as it has listened to students to reach out to them in a difficult period. It was a beautiful operation of solidarity.
The public service of justice and access to law, of which the notary’s office is a component, requires the transparency and intelligibility of the rules that apply to it. An essential reform took shape at the end of 2021 and will be put in place in the coming months: it is that of our professional ethics and discipline. A reform that we asked for and which has been written by the Chancellery in full consultation with the profession. A reform of which notaries will now be the architects. We are constantly giving ourselves the means to deserve, even more, the trust of the State and of our clients. One of the cornerstones will be the drafting of a Code of Ethics, written to be understood by all and easily accessible. It will be our guide for the coming decades.
Without making a fuss, but driven by its values and its raison d’être, with perseverance and agility, the notariat is moving forward. I hope that these changes will be noticeable and visible to all our partners and clients.
This 2021 report gives an account of the missions and activities of notaries: full-fledged players in the public service, playing an essential advisory role for families and all economic players throughout the country, major players in a constantly evolving real estate business in which notaries are asserting themselves as both experts and references. The notary’s office, a profession that participates in and contributes to the public debate and a local territorial organization.
The report of the Conseil Supérieur du Notariat (CSN) invites you to discover some of the Institution’s achievements and its activities that are part of its raison d’être.
The Adrian Leeds Group
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