Hi, we are almost at the end of our long and drawn out purchase of a property through the viager system.
It was complex because we have vacant possession.
We now need to draw up a deed of trust in the UK. The current owner wants the amount we will pay in £ no matter what the exchange rate stated, which is great.
The issue we will have is that he's now worried about what will happen if both my husband and I die before they do or if we default on the payments and wants these clarifying in the english document.
We have explained that the latter is very clear in the French contract and doesn't need reiterating in the English (they can take the property from us if we miss just 2 payments) But we aren't sure how to deal with the former issue. The lawyer isn't being particularly helpful with this and has asked for £500 to draw up the document but we have to tell him the wording of what we'd like.
Can anyone help us? Is there an insurance policy we could take out to continue the monthly payments?