Hi all, first time poster, long time reader. All of your contributions have been very helpful throught the tricky admistrative steps of settling in over here.
I have a question regarding money, property and family. Three things that should probably be kept apart from each other if you want to keep life simple.
In fact I want to buy a property in France, and ideally i want to buy one with the help of my parents and in return provide them with a holiday 'home' or studio with which they can do as they please, ie stay, rent out, let friends use etc.
My question is regarding the money that they would contribute to the purchase and how legally and tax-ually (cant think of a suitable word) that would have to be done.
How much can a parent give a child without being subject to tax for example. If i go to my worst case which is where I need 150k, can i receive this tax free and directly put it to the house purchase and purchase in my own name.
If not, can they contribute to the purchase but not the mortgage and be named on the deeds as owners?
I am really trying to understand all the options and what are the advantages/disadvantages of each and if anyone has input i would love to hear it, thanks alot!