Hello, I’ve been reading posts on the site with interest but am new to posting myself. I wondered whether someone might be able to help with some inheritance questions or who could point me in the right direction please. My mum and dad jointly own a holiday property in the Vendee worth about 200k euros. My father sadly passed away in December and my mum is thinking of transferring ownership to myself and two sisters as she doesnt want the responsibility any more. My questions are 1. If she decides not to transfer ownership, what percentage of the property would we each own as I understand that in French law ownership wouldn’t automatically pass to her as it would in the UK, 2. What is the time limit for paperwork to be completed as I assume we will need to find a Notaire either locally in France or in the UK? If anybody has any guidance on dealing with all this or can point me to other websites then I’d be really grateful. Thank you in advance.
You and your mum need to discuss this with a French notaire. It may be best to use the same notaire who handled the purchase.
OK thanks, they bought it over 30 years ago now so the same notaire may not be around but I’ll see what we can find.
You are supposed to have 12 months, but many successions exceed this! Talk to a notaire (the notaires office is probably still in existence even if notaire has moved on) about if your mother renounces her succession of the FRENCH assets only they should pass directly to his children.
Would that be tax efficient Jane as ISTR no tax on inheritance by children?
Notaire’s offices serm to carry on either inherited or sold lilke other ‘practice’ type businesses - we’ve dealt with 2 generations in our notaire’s office snd pretty sure the next time we deal with them it will be the third generation. Unless unhappy with them it gives a quicker start as they will already have the old records so yoiu could change but I don’t think.people would without a reason.
I think it’s only tax free up to €100k for children.
Thanks for help all, we will arrange an appointment with the original office if possible.
I was reading up about this but I wasn’t clear if it was 100k for each child or in total.
Per child. Inheritance tax is calculated for each individual heir.
That’s why I say talk to notaire, as may be more tax efficient as within amount allowed for a don manual gift so all passes directly.
Or may not, as would get 75% of their father’s 50% as reserved heirs, and then their mother would get the remaining 5/8ths and may have to pay extra transfer fees to move it to the children.
Thank you
The best advice for you is to go and see a notaire. This is a hugely complex subject in France due to the strict inheritance laws. If your French is not good! there are some English speaking Notaires, so it’s probably worth taking time to find one. Good luck!
Thank you Jonathon
Hello Czara - Welcome to SF!
Firstly, nobody has really answered your specific questions so far, so let’s start with that.
- Under French Inheritance Law in this situation, when one parent dies the 3 children and surviving spouse would get 25% each. Usually the surviving spouse stays in residence - but this is not supported by law, only the agreement of the children.
- There would be no Tax involved at the €200k level.
- A notaire here has approx 12 months in which to submit a Tax assessment to the Impôt [Inland revenue] from the date of death. Penalties and interest are payable if this timescale is not met. So you have time available at present!
- However, my concern is that your Dad’s death is a UK situation - and comes under UK Law. His assetts happen to include a property in France, which you say is ‘jointly owned’ - whatever that may be in practice. Since there is no Inheritance Tax collectable in France, I don’t think they are going to be interested!
I think that you should rely on a UK solicitor to handle the necessary details - they will be able to liaise with a suitable French notaire to handle the paperwork. Leave it to them.
I can’t see that your Mum need worry about who is ‘responsible’ for the property. It legally belongs 75% to you three girls anyway. When the time comes, as far as the French are concerned you will own it all between you anyway.
Best wishes, Michael xx
Not necessarily as depends on how it was purchased (eg tontine) and what their marriage regime was. If séparation des biens then children would get 75% of the father’s 50%. The wife would get her 50%, plus the remaining 25% of her husbands share…
Did he have a French will?
Thanks so much, I thought the same as this but there is a lot of conflicting advice. I think we are going to have to find out exactly what was specified in the original documents and take it from there eg I can’t imagine they specified to include a tontine unless guided to by the notaire.
Thank you Jane. My mum said she thought that they were told that on one of their deaths, the deceased half would be split between us three girls but its obvious we need to find the paperwork and speak to a notaire. We spoke to a notaire in the UK but they said it would need to be dealt with in France.