General information on beginning the search / Where would you like to buy real estate?
House or apartment?
New building or old building?
What does the price of the object depend upon?
Who is your negotiating partner for acquisition?
The current market situation on the Cote d’Azur
Acquisition of an old building / Viewings / Appraisals
Preliminary Contract ( „avant contrat“)
Role of the notary / „acte authentique“
Additional expenses for the purchase („frais de notaire“ or „frais d’acte“)
Purchase of a new building
Purchase of land
Financing
Foundation of a S.C.I. („société civile immobilière“)
Purchase on the basis of pension („viager“) as a special form of property acquisition of real estate
Taxation of the gain („plus value“) from sale
Right of succession
Monaco
Conducting a sale / Preparations for the sale
SELLING A PROPERTY / USING AN AGENT?
SELLING A PROPERTY / PREPARING THE PROPERTY FOR THE SALE
Landing stage for your boat: Buy or rent?
Purchase on the basis of pension („viager“) as a special form of property acquisition of real estate

The acquisition and sale of real estate on the basis of pension („viager“) has a long tradition in France. There are 2 basic forms of acquisition / sale „en viager“:



- „viager occupé“: In this case the seller („crédirentier“) keeps the lifelong right of abode for the house or apartment or until premature move. For that the purchase price– here it not only depends on the value of the real estate but also on the age of the seller(s) and of course on the purchase modalities – is reduced appropriately. Normally the purchase price is (this is not compulsory) balanced by a single payment („bouquet“) and the lifelong subscripted pension. In the case of premature move of the seller the use of the real estate is passed over to the purchaser / owner

(„débirentier“). For this case a respective agreement on the increase of the pension is already concluded in the sales contract due to the fact that according to experience 20 to 25% of the sellers make use of this.

This form of the viager amounts to more than 90% of all viager-transactions.

- „viager libre“: This has become a very rare form of the annuity pursuant in which the buyer can immediately make use of the house / the apartment.



The sales contract ( „contrat de viager“) contains



- a regular / classical sales contract and

- a « constitution de rente viagère ».



As when purchasing an old piece of real estate the contract can be freely concluded between both parties. The „acte définitif“ is concluded in the presence of a notary.



During the time period in which the crédirentier (seller) is still living in the apartment or the house he/she bears the housing tax („taxe d’habitation“) whereas the débirentier (buyer) is responsible for the real estate tax („taxe foncier“), the „charges“ (housing expenses) and necessary larger repairs on the real estate.



The purchase of real estate on the basis of pension is almost an ideal way to already prepare for your future residence on the Cote d’Azur at a time which does not yet allow you to use an apartment / a house for very long because you are still employed. At the same time it is usually quite good an investment for the retirement provisions which does not tie up much capital.

On the Cote d’Azur there are some real estate agents specialised in this type of purchase. We are not one of them but we will gladly help you find the right partner (www.riviera-domicile.com ).