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Property buyers urged to seek legal advice

Article Date : Wednesday, July 25, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Investors considering the purchase of a retirement home should seek legal advice first, an expert has said.

Heyday director Alisa Ogilvie was commenting on the difference in inheritance laws in France and the UK as recent figures from the Institute for Public Policy Research estimated that one in five British pensioners will retire overseas by 2050.

Around 20 to 30 per cent of the total cost of health care is likely to have to be covered in France but those who are not yet pensioners or working in France could be charged the full amount.


"To try and avoid any pitfalls when purchasing a home people should obtain appropriate legal advice," Ms Ogilvie commented.

With French inheritance laws applying to any property bought in the country, buyers are advised to write a well in French as their English one may not be recognised, she added.

Early this month, a Property Frontiers spokesperson claimed that increased airline accessibility to French locations, such as Limoges, has boosted the country's popularity among British property investors.
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