- February 17, 2024
- Posted by: legaleseblogger
- Category: Related News
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Seeking Advice on Inheriting Real Estate in France
I am seeking recommendations for other subreddits if this question is not appropriate for this community.
My mom is a resident of France and owns an apartment that she wants to pass on to my brother and me when she passes away. However, my brother and I are not residents of France, and I want to find the most cost-effective way for us to inherit this real estate.
I have done some research and it seems like there may be a way for my mom to pass on the apartment to us without any taxes being paid. However, this intuitively feels wrong to me and I need help understanding where my logic and assumptions might be incorrect.
Furthermore, my mom can retain a ÔÇ£life interestÔÇØ in the apartment while my brother and I each hold a ÔÇ£revisionary interestÔÇØ with her owning 40% of the apartment and my brother and I holding the remaining 60%. This means that 60% of the apartment’s worth, which is Ôé¼500,000, can be passed down without taxation. Additionally, since my brother and I have ÔÇ£revisionary interest,ÔÇØ we may not have to pay any inheritance tax upon my mom’s passing.
However, I am aware that I should eventually consult with a notaire in France to get expert advice. Therefore, I am seeking guidance to understand the process better.
AI Legalese Decoder can help in this situation by providing accurate and comprehensive information on inheritance laws and taxes in France. It can also assist in understanding the complexities of property ownership and transfer, ensuring that the most cost-effective and legally sound approach is taken. The tool’s ability to interpret and explain legal jargon can clarify any misconceptions and provide a clear understanding of the inheritance process, allowing for informed decisions to be made.
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