Another aspect of
buying property abroad are the different inheritance laws.
Unlike in the UK your partner will
not automatically inherit your un-willed assets.
You
cannot even assume that you can make a will
under which your partner will inherit
everything.
It is not that easy.
GET
GOOD ADVICE FROM YOUR LAWYER!
It
is not a question of a foreign government taking over your investment-
it is usually just a way of ensuring
you do not disinherit your children.
A
worthy cause- but rather a complicating one.
Divorce
and children from previous marriages make a complicated situation
positively freudian.
There
are almost always ways to arrange things to your satisfaction-
BUT
ONLY IF ARRANGED BEFORE YOU SIGN THE FINAL CONTRACT OF COMPLETION!
In
France, for example, without any action, your partner could be forced
to sell up and move out
if one of your children (by your present
or any previous marriages) wants the property sold when you
die.
This
can be avoided by buying 'en indivision' or 'en tontine'.
The
children will still co-own with the surviving spouse-
but they cannot sell up and throw
them out.
Setting
up a 'company'- an SCI in France- to own your property
is the only way to remove your property
from these inheritance laws.
This involves costs of its own,
and will also affect the taxes to
be paid if you sell or when you die.
BUT
YOU DO NEED PROFESSIONAL ADVICE!
TO
INFORMATION ABOUT THE LEGAL PROCESSES
