Tuesday, February 26, 2008

New consumer protection laws on real estate sales in Paris

One of the first laws adopted was the "Loi Carrez" passed in the mid-1990s which requires sellers to indicate the exact size of the property when the sales contract is signed. If it is subsequently revealed that the actual size is more than 5% smaller than that stated in the contract, the buyer is entitled to claim a price reduction of the same proportion within a year of the purchase being completed.

The so-called "Loi Bachelot du 30 juillet 2003 came into effect on 1st June 2006 which requires sellers and landlords of properties to deliver a certificate of "natural and technological hazards" ("les risques naturels et technologiques").

Information From: KHS Paris Real Estate Blog

French Properties added

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