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Mr Norman Babbedge

Question:

My wife and her children are selling their house in France. A buyer was found before Christmas, and my wife and her children signed the compromise and sent it to the selling agent in France. In that compromise they undertook to sell by Feb 15th 2016.

However, following that, the buyer became concerned about a right of way that exists over the property, so he delayed signing whilst he investigated. This was resolved on about 28th Jan when we received a phone call to say a solution had been found and the house sold.

We are going to France for a week on Feb 5th to empty the house etc, and my wife and her children will to sign to give their notaire permission on their behalf when the time comes. The selling agent has indicated that this will take place in March, but has given no further details.

My question is this - can we ask our notaire to delay the final sale until after April 6th as this would suit us for capital gains tax purposes (in the UK)?

Best wishes
Norman

by Mr Norman Babbedge on 01 Feb 2016
Guillaume Barlet

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Answer:

Dear Norman,

In reply to your email, it appears you mentioned that the property was sold on 28th January 2016 but then enquire whether the sale can occur on 6th April 2016. As this seems contradictory, I will assume that you were told on 28th January 2016 that the property could be sold.

In that respect, it is indeed possible to delay completion providing that the vendors agree to it.

Please note that a Power of Attorney should not be signed until the completion deed has been finalised, reviewed and approved by you or your representative. In effect, failing this, the Power of Attorney would allow a third party to sign an agreement which have not seen prior to its signature.

I hope this helps.

Kind regards,

Guillaume Barlet-Batada

by Guillaume Barlet on 28 Mar 2016

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