question

[Misha]

Hi all, does anyone know if it is possible to become part owner of a property in France which someone is already purchasing by way of having put a certain cash sum down, as well as a loan? Can a party who is in the process of purchasing the property and willing to draw up a contract giving a specific percentage to a 2nd party do so legally? If no one knows, does anyone know a lawyer who might?
Thanks
Misha

[CaroleBay]

Hi Misha

I know the answer to your first question ....

If you are wanting to apply for mortgage finance from a French bank on a property in France, all the people who are named in the Compromis de vente (the sales agreement) as the vendors (purchasers), will have to be named in the mortgage application, irrespective of whether one of the vendors has the cash to buy their share of the property outright.

For the legallity of apportioning percentage shares of the property, I can only suggest you seek advice from your Notaire.

Carole Bayliss
mortgagefrance