Disbursements
All costs incurred by the undersigned on behalf of his client (cadastre, conservatory mortgages, surveyor).
Reflection period is the statutory period of 10 days available to the borrower to give his acceptance on the offer of credit.
Withdrawal period
See prior offer of credit.
Delegation insurance coverage
by an individual contract may be justified in two cases:
you are a very good risk, that is to say you're young and healthy, you situation and stable income from employment and can benefit from very favorable insurance conditions;
you're a bad risk for questions of age, health or dangerous profession, and insurance group, you covers poorly or a higher cost than insurance you may have purchased elsewhere.
You can have interest in both cases to negotiate with the bank that will grant you the loan, the transfer for the benefit of these guarantees. That is what we call the delegation of insurance. In practice, the delegation of insurance is generally used in case No. 2 (bad risk) than in the case No. 1 (very good risk), because insurance companies specifically seeking to reduce their risk by keeping good risks and eliminating the bad.
Deposit (rental)
deposit paid to the landlord by the tenant to cover risks related to leasing.
Grace
Through the purchase of a new home, a loan may include a grace period either:
-part: During this period, the borrower pays only interest, without repaying the borrowed capital (this period corresponds in principle to the duration of construction);
total: at the end of the grace period, repayment of principal and interest begins.
Divorce
There are various cases of divorce:
-if you agree with your spouse for divorce, you can file for divorce by mutual consent on joint application or request for a spouse with acceptance of others;
-if you disagree with your spouse for divorce, you can seek divorce for misconduct or breach of common life.
In all cases, counsel is essential for both spouses. However, in case of divorce on a joint application, you can by mutual agreement select a single lawyer.
mutation
Right Amount to be paid to the tax authorities by a person who receives property by gift, estate or pecuniary
Law Faculty of preemption to acquire property in priority to any other buyer.
EC (Housing savings account)
Any person may hold both a C. Peles and for the same transaction. This form of housing savings is very flexible compared to P. but it is much less efficient.
COS (coefficient of land use)
Sets number of
Cadastre
Cadastre is a document prepared at the municipal level that identifies all land and fixed their rental value as a basis for local taxes. Each hall has a service inventory that provides you with this document. The consultation documents cadastral town hall is free. See Real Estate Tax.
Deposit The deposit is the natural or legal person who undertakes to guarantee payment of a mortgage in the event of default by the borrower.
Planning Certificate
It is the main document Official intelligence on potential uses of land, as well as architectural constraints to be respected (shapes of roofs, windows, colored tiles), whether built or not. It can be obtained at the town hall. It is essential to obtain a planning certificate before any real estate transaction.
Communal Services
These are fees and expenses necessary for the proper functioning of a condominium. Each building has its own characteristics.
-borrower A loan agreement may be signed by a single borrower or a borrower and a borrower. In this case, they share a joint obligations of the loan agreement.
Soils (COS)
It lets you know the maximum number of buildable square meters over the ground surface. This is the Soil Map (SOP) which sets for each zone one or more COS
Sale agreement
The sales agreement (indenture or promise) is a term that corresponds to a legal a promise of sale. This is the first legal instrument that connects and engages both the seller and buyer. It is an outright sale. It can be either a deed signed before a notary or a private act.
Conditions Precedent contained in a preliminary contract (promise of sale or sales agreement), the conditions precedent shall suspend performance of the contract upon the occurrence of an event. The contract will take effect only when the upcoming event will happen.
Union Council is composed of owners appointed by the General Assembly and its purpose is the preservation of the building and Public Administration. It assists the agent and control its management.
Contract Construction House Detached (CCIC)
This contract is strictly governed by rules of public policy designed to protect the client developer. It is essential that any person who is responsible for building a house with no more than 2 units for the customer, according to a plan he has proposed.
ADI
Départementalsur Housing Association.
ANAH (Agency National)
ANAH subsidizes improvements made in housing located in buildings completed over 15 years belonging to private owners, hired as a principal residence and subject to additional tax law lease, or exempt from it because of the amount of rent.
personalized housing (AP)
It is an aid to the person intended to reduce the housing costs of its beneficiaries.
Deposit
Housing Associatio.
acquests
In the community of acquisitions, property that spouses have before marriage are considered separate property (belonging exclusively to each of them) and those acquired during the marriage as acquisitions (acquired under the plan).
Deed Sales
Act drafted by a notary public (notary, bailiff) defining the rights and obligations of the parties to formalize property sales. In contrast: a private document.
the Mortgage Contract by which a debtor gives his creditor an asset, a portfolio of securities etc. ... as collateral for a loan. The act of pledging is required to be served by a bailiff, but its cost is lower than a mortgage.
private deed
Act drafted and signed by the parties does not require the validation of a public officer. This term is opposed to notarial or authentic.
Award Award by the judge or by a public officer (notary) of a building put up for auction.
Property manager
The purpose of the property manager is to manage all or part of the component assets.
estate agent
It conducts real estate transactions. The estate agent is brought one hand to intervene in the conclusion of legal acts and secondly to handle large funds.
Housing Allowance (A)
This allocation allows families to reduce housing costs, under certain conditions.
Personal contribution
The acquisition, construction of a dwelling or important tasks often require a loan. In most cases, a personal contribution is required. This amount is used to finance part of your property investment. Please note, notary fees and guarantees are not funded by the lender
Architect The architect is a real estate professional who works on a construction project or renovation. It prepares, controls, directs and evaluates the work costs.
Deposit Amount of money paid when a sale or booking a rental (seasonal). She is credited towards the price anticipated when the person who paid it confirms his choice, or it is lost if the person changes his mind. Furthermore, the person who received the deposit must return double what she earned if ever it was she who withdraws.
General Assembly owners
The General Assembly includes all owners, everyone has an equal right to participate.
Please note, the seller, who still owns, has the right to vote for major repairs that remain be responsible for the acts and provisions (eg sale of a common part)
Insurance (or job loss)
Insurance guaranteeing the borrower's repayment of part deadlines in case of unemployment. It is subject to strict criteria.
Death Insurance Disability / Disability
It ensures support of all outstanding amounts (in case of death or disability absolute and final) or refund deadlines (for the period of incapacity or permanent disability, total or partial). It is required by the lender for any subscription to a home loan.
Insurance liability and damages
work-work-life insurance allows the purchaser when a disorder is found and returned in the area of damage guaranteed to get compensation without having to search the manufacturer's responsibility.
FICP
is the national register of incidents of repayment of loans to individuals. This file is managed by the Banque de France, which centralizes the one hand incidents Payment characterized individuals associated with credits and other measures adopted by the review boards deainsi situations that civil judicial remedies
Agency fees are calculated by percentage of the amount of real estate transaction. The fare is free and subject to a legal obligation to display in the window. If they are included in the amount of real estate transaction, they can be financed by the lender.
handling charges are billed by the establishment financial lender for the study and establishment of a mortgage.
release fee if you sell a house before the end of the loan payments or less than 2 years after the last installment, we must, if the property is mortgaged or secured by the lien of lender of money, obtain release from the registrar of mortgages
Warranty biennial
Guarantee biennial (or performance warranty) covers items of equipment not incorporated, as opposed to elements construction covered by the ten-year guarantee. Its duration is 2 years from the date of receipt of the work.
guarantee perfect completion
covers for a period of one year (from date of acceptance of work), apparent defects or faults have been recorded in official reserves Proceedings of receipt, and / or disorders appeared after the receipt of any kind.
Decennial
This warranty covers all mandatory construction defects compromising the strength of the work or making it unsuitable for its purpose for 10 years. This warranty also covers any damages that affect the strength of equipment components are inseparable from the building. The starting point of the ten-year guarantee is the receipt of the house by the Owner
Mortgage The mortgage is used to guarantee payment of a debt on a property. This ensures that is the most frequently requested. It can be taken irrespective of the good. If the property on which the guarantee is taken there (old or new closed), for reasons of cost, it is better to register a lien lenders of money.
solidarity tax on wealth (ISF)
are indebted to the solidarity tax on wealth individuals, whatever their nationality, owners of the date of 1 January 2002 of a taxable assets whose net worth exceeds € 716,510, their tax residence is located in France or abroad. The person is tax resident in France soumis.SF on all of its assets located in France and abroad.
Undivided
This formula allows acquisition of unrelated persons to share ownership of a dwelling. It is distributed either equally (each has half) or unevenly (one has 70%, the remaining 30% for example).
Act Besson Besson
The device allows you to invest in real estate (new or old) to view and benefit from rental real tax benefits. One of its main features is to have an indefinite life. To claim the benefit of this system came into force since 1 January 1999, the buyer must make a binding agreement to rent the unit under certain conditions (status of the Lessor agreement).
Carrez law
This law aims to improve the protection of purchasers of condominium lots by establishing a security area. It requires the seller to inform buyers about the size of the lot sold by a reference to appear in the first act signed.
Act
In the 3 objectives: to develop a procedure for prevention of problems families and more responsible lenders and borrowers (Act applies only to natural persons).
Act
This law allows for a real estate investment (new housing purchased turnkey e and at rental purpose. This device allows the buyer to benefit from tax reduction. Beware, since 1 January 1999, the Ballast replaced by the Act Besson with a limitation of tax benefits. See Besson Law.
Act
This is a tax exemption scheme. This law s address to individuals wishing acquire a new property, profit rental (minimum 6 years) in the DOM-TOM. The investment allows for a tax of 45% of the total purchase price.
Eligible sectors are: industry, fishing, hotels, tourism, new energy, agriculture, construction and public works, transport, crafts, maintenance for the benefit of industrial, production and broadcasting and film and making the necessary investments to operate a public service concession to local industrial or commercial character.
This type of investment is for tax households with higher income tax bracket is around 50% or more
Act
The law called Lo, No. 79-596 of July 13, 1979, is part of the Consumer Code. 312-1 et seq.) It aims to protect consumers against the dangers of credit.
It raises the mandatory rules that limit freedom of contract regarding real estate lending. It applies to all loans for the purchase of buildings for residential or professional use and housing, buying land for building, renovations, or construction for an amount greater than € 21,343. Whatever the purpose of the transaction, or investment house.
Formal notice
The formal recognition is a delay by the debtor in the execution of an agreement.
Nu-owner
The owner of property subject to a usufruct is known as the bare ownerLoan Offer (or: prior offer of credit)
See Act.Your loan application must be filed with the lending institution of your choice.
latter to you, free by post, an offer of loan whose content is regulated. This job calls the credit for thirty days or more after receipt
PAP (Ready to Help the Property)
The decree of September 29, 1995 removed the introduced and the 0% rate Loan Department housing. See Loan at 0%
EP (Housing Loan Savings)
Savings housing is to encourage savings for obtaining a mortgage on favorable terms, to achieve a project purchase or construction of a housing. It may be a primary or secondary residence, provided that it is new and personal or family use. It can also allow you to fund research in a primary or secondary residence, though it is forbidden to work and simultaneously fund the purchase.
Soil Plan (POS)
The SOP is a document available in City Hall, which establishes the planning rules applicable to the territory of a municipality and it allows you to organize and plan its development. As it gives you a way to know if a property is buildable or not and it indicates the future destination of each plot municipal territory. It is developed on the initiative of Commons but the law does not oblige them to adopt such a document. Currently, more than 15,000 municipalities have approved a POS
Ready
Under a floating rate loan, the increase rate is limited by a contract or more least 1.5, 2 or 3 points from the starting rate. Example: The starting rate is 4.7% with a cap of 2 points, the rate will not surpass the 6.7%.
Guaranteed Loan
The mortgage bonded you can significantly reduce costs by avoiding the costs guarantees making mortgage and release. It involves a specialized institution in the bond such as the Housing Credit. We can cite other specialized companies such as: the Bank for (group credit unions), for the Crédit Agricole.
Privilege of the money lender (PPD)
There are two kinds of collateral: the conventional mortgage lenders and the privilege of money. PPD can only apply to existing properties, it can not be used plan for sales (Sale in Future) or to build a house.
Promise sales
The promise of sale is the legal term for the sale agreement. It exists in two forms: - bilateral engagement of 2 parts called indenture agreement or promise of sale - a unilateral commitment to selling only the owner agrees to sell the property to the beneficiary under the terms proposed.
SPR (special reserve)
It is mandatory for companies with over 50 employees and having positive results (net profit after tax of more than 5% of equity - Law of November 7, 1990).
Regulations condominium
It must be established for all condominium. Its purpose is to determine the destination of the units as common areas, to determine the conditions for their enjoyment and to indicate the rules governing the administration of the common.
Liability
part of their business, real estate agents, administrators of property .... should be insured against the consequences of their mistakes, causing harm to others. This is the PII (Professional Liability).
SHON / SHOB
Off The surface (meaning outside of) to calculate the size Excluding Net (SHON). This surface is the basis of calculating fees in the construction (building permits) as well as various fees related to building (residence tax, local tax of equipment).
Easements The property right has limits called easements. The easement is attached to a building and not the owner of a building. Each owner will comply. It may benefit or suffer the consequences
APR (annual percentage rate)
It measures the total cost of a loan. It includes the loan interest, administration fees, insurance fees and expenses which may arise directly or indirectly in the operation.
rate is a variable rate which may not exceed a certain limit or fall below a certain level set in advance.
Fixed Rate Loan interest rate undergoes no change during the life of the loan.
Variable rate (or variable)
interest rate loan that is moving upward or downward based on a defined index. It is a cheaper option initially, but with a more flexible risk
Property Tax
It is caused by the individual owner on January 1 of the tax year. In case of sale of the property, the seller and the buyer may provide in the deed of sale, the tax sharing between them.
fee is due in principle by any occupant of a furnished apartment, either as owner or tenant living in the dwelling on January 1 of the tax year .
Usufruct
The usufruct can be defined as the right to enjoy something belonging to others, provided you keep this thing. The beneficiary of the usufruct is known as the usufructuary. The usufruct can be granted for a specified period or for life. The owner of property subject to a usufruct is known as the bare owner.
sale (off plan)
Any sale of a building to be constructed and the land must be governed either by a contract of sale in the future state of completion, whether under a contract of sale forward. VEFA by the purchaser becomes the owner of the ground immediately and constructions already completed and the owner of the building to come as and when progress
Arkwright
A latent defect is a default we can not detect in carefully examining the property (movable or immovable), without needing to use the services of an expert. When a latent defect renders property unfit for its intended use or that it significantly reduces the use of the property buyer may have recourse against the seller. A latent defect can affect both personal property (automobiles, appliances) a building (house, apartment).
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