How to protect yourself from the moment you sign the deed of sale?
When buying a property together, it's essential to take certain precautions as soon as you sign the deed, to protect yourself in the event of separation or unforeseen events. First of all, the choice of legal status is crucial. If you are not married, you can opt for a PACS agreement. In this case, you'll either buy separately or jointly. If you are cohabiting, you will need to draw up the deed of purchase, indicating the division of shares according to each person's contribution. If you're married, it's important to understand the implications of the matrimonial regime you've chosen (communauté réduite aux acquêts, séparation de biens, etc.).
This will clarify ownership of the property and avoid any disputes over respective shares in the event of a break-up. Finally, it is also advisable to take out appropriate death and disability insurance to protect each co-buyer in the event of the death of one of them. Your notary will advise you beforehand to avoid any problems later on. Make an appointment before you buy, to find out what's best for you.
How can I protect myself from the moment I sign the deed of sale?
When buying a property together, it's essential to take certain precautions as soon as you sign the deed, to protect yourself in the event of separation or unforeseen events. First of all, the choice of legal status is crucial. If you are not married, you can opt for a PACS agreement. In this case, you'll either buy separately or jointly. If you are cohabiting, you will need to draw up the deed of purchase, indicating the division of shares according to each person's contribution. If you're married, it's important to understand the implications of the matrimonial regime you've chosen (communauté réduite aux acquêts, séparation de biens, etc.).
This will clarify ownership of the property and avoid any disputes over respective shares in the event of a break-up. Finally, it is also advisable to take out appropriate death and disability insurance to protect each co-buyer in the event of the death of one of them. Your notary will advise you beforehand to avoid any problems later on. Make an appointment before you buy to find out what is best for you.
What do I have to do when I borrow money together to buy a property?
When the notary draws up the deed of purchase, the proportions you specify must reflect reality. If, for example, you are cohabiting and you buy 50/50, the loan will have to be repaid half and half. If, in reality, one of you is paying back a much larger share, it will not necessarily be possible, in the event of resale or separation, to claim a higher share than that indicated at the outset; even if you have bank statements as proof. Be careful, if you pay more than your share, the French Supreme Court considers that "this over-contribution by one party constitutes a debt owed to the other".
If the latter does not reimburse within 5 years, the claim becomes time-barred. On the other hand, there is no statute of limitations for married or civil union partners.
What should I do if I borrow money together to buy a property?
When the notary draws up the deed of purchase, the proportions you specify must reflect reality. If, for example, you are cohabiting and you buy 50/50, the loan will have to be repaid half and half. If, in reality, one of you is paying back a much larger share, it will not necessarily be possible, in the event of resale or separation, to claim a higher share than that indicated at the outset; even if you have bank statements as proof. Be careful, if you pay more than your share, the French Supreme Court considers that "this over-contribution by one party constitutes a debt owed to the other".
If the latter does not reimburse within 5 years, the claim becomes time-barred. However, there is no statute of limitations for married or civil union partners.
Is it a good idea to buy with an SCI when buying as a couple?
Buying property as a couple via a Société Civile Immobilière (SCI) can be an interesting solution, but it depends on your objectives and situation.
In an SCI, the shares can be freely divided between the partners (you and your co-buyer), according to the contributions of each. This makes it possible to specify everyone's contribution to the financing of the property, and thus avoid subsequent disputes.
It also makes it easier to organize the management of the property (rental, maintenance, works, etc.), and you can lay down certain terms and conditions when drawing up the articles of association. However, for a first purchase by two people as a principal residence, joint ownership may be simpler and less costly.
Before making your choice, it is advisable to consult your notary to assess the best option for your objectives.
Is buying with an SCI a good solution for two people?
Buying property as a couple via a Société Civile Immobilière (SCI) can be an interesting solution, but it depends on your objectives and situation.
In an SCI, the shares can be freely divided between the partners (you and your co-buyer), according to the contributions of each. This makes it possible to specify everyone's contribution to the financing of the property, and thus avoid subsequent disputes.
It also makes it easier to organize the management of the property (rental, maintenance, works, etc.), and you can lay down certain terms and conditions when drawing up the articles of association. However, for a first purchase by two people as a principal residence, joint ownership may be simpler and less costly.
Before making your choice, it's advisable to consult your notary to assess the best option according to your objectives.
