LegalNews

French Leaseback Owners Survey

We would like to build a clearer picture of exactly who the key players were in the sale of problematic French leaseback properties.

To do this we’re asking people to complete a very short survey telling us who was involved in your original leaseback purchase. By creating a profile of the various parties involved, we believe this will help to further strengthen our campaign in seeking justice for hoodwinked owners.

It will only take a couple of minutes, and if you don’t remember all the names (the notaire for example) just put in ‘can’t remember‘ or something like that and fill in what you can (the more people who fill it in the better – even if its not complete).

We hope to use this data to back up our engagement with the European Commission.

Remember, no personally identifying data will ever be used.

You don’t have to add your name and email address, but if you do, rest assured it won’t be passed on to anyone.

The survey is on Google Forms:

French Leaseback Owners Survey

4 thoughts on “French Leaseback Owners Survey

  1. We purchased a 2 bed house at Les Jardin De St Benoit Languedoc France May 2006 for 255,000 Euro. The main driver for the purchase was the guaranteed income of gross 4.22% income and the option to sell after 9 yrs. The selling agent in Ireland was COLLIERS JACKSON STOPS(Ingrid Gardiner, Gillian Ryan,Paddy Gibbons) marketed the place with words like: the lease back period is 9 to 11 years and the management company can opt to renew after this period. However they rarely insist on renewal of it is not wanted. The Leaseback option document from LSJB and the brochure stated a 9 yr lease. There was never any mention of the word “Commercial lease” in the advertising phase or at time of deposit and this was only added in the final contract after October 2006 . The option we picked guaranteed 4.22% tax inclusive with possible increases at 3 year intervals to a max 2% this was not honoured. The information given by Colliers Jackson Stops and Garrigae in the sales brochures did not mention Commercial Leaseback and that there was a penalty clause to get out of it. This surely amounts to false advertising.

    1. I believe Paddy Gibbons worked for Garrigae and I met him in their offices in Beziers at the time. It appears that very few, if any, purchasers at Les Jardins de St Benoit were aware of the ‘eviction compensation’ requirement to get out of the contract under French commercial law…

    2. Like you, I bought through an Irish agent, DNG after extensive advertising particularly in the Irish Times. I would suggest you make a formal complaint to the Society of Chartered Surveryors see below. I did and it’s ongoing but logged. Think that is critical if we pursue the results of the DGCCRF investigation in France. Noel

      Contact
      Gwen Wilson
      Director of Regulation
      Society of Chartered Surveyors Ireland
      38 Merrion Square
      Dublin 2
      gwilson@scsi.ie

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