The Villages Group

THE NOTAIRES:

ARE TOTALLY INDEPENDENT OF THE BUILDER; PROMOTER. BUYER OR SELLER AND CAN ACT FOR ALL PARTIES; HIS RESPONSIBILITY IS TO THE STATE OF FRANCE!

As seven years of law are necessary to graduate, the Notaire is the most qualified lawyer of the French legal system. The Notaire is both a Public Officer and a counsel. His qualifications allow him to efficiently advise his clients in specific areas of Law - Real Estate Law, Family Law and Corporate Law. He is able to advise clients on matters all over France. A Notaire from Paris can hence equally deal with an acquisition of a house on the French Riviera he can supervise the purchase of a supermarket in Strasbourg or control an industrial implantation in northern France.

The French State confers to the Notaire an authentic power to legalize certain agreements, such as Real Estate sales, which cannot be enforced by any other means. This monopoly prevents almost any subsequent litigation concerning these contracts. However, the Notaire does not only draft and authenticate deeds. As today's legal transactions are more and more complex, counseling clients is also a major function of a modern Notaire.

The Notaire is deemed a Public Officer with powers delegated by the French State to authenticate the deeds he drafts and to provide complete security to the contracts he supervises. The authenticity of the deeds grants them an undisputable date and content in Court. The law imposes a personal liability on the Notaire for his professional acts which is more extensive than that of any other branch of the legal profession. Not only would the professional mistake be penalized immediately by a judge, but it would also mean that all of the Notaires would be held liable among themselves as they have a common insurance, providing an immediate financial guarantee to the client. The overseas investor is therefore facing a specialized lawyer fully liable for his deeds, both professionally and financially.

The Real Estate Registration system in France is highly efficient. The Notaire has the task to both completely satisfy his clients and the State.

The fees concerning the deeds and taxes a Notaire can perform are fixed by Law. Neither the Notaire nor the clients may modify these specific fees. The "closing costs on NEW BUILD are fixed at 2.5% - on all property over 5 Years the fees are between 8% and 12%;

The Notaires have a wonderful website, (also in English) at www.notaires.fr. You will see lots of information plus be able to download free publications. The true knowledge of real estate in France - not written by so-called "experts"; but by the State of France. (Also view the Ministry of Economy website, (also with English version), on www.insee.fr where you will see the trends in real estate again; from the State, not from the “experts”!

LATEST! By law, every new build has to have a government certificate stating that the building is protected against earthquake, (strange as France does not have them!) and is not built in an area subject to floods or any other hazard – whether man-made or natural. The ONLY country that gives such protection – nationwide!