If becoming a co-purchaser of real estate does not pose any particular problem, provided that certain rules are respected. It also seemed useful to us to recall the differences between the notions of co-borrower and co-purchaser . The point with FIL-DU-CREDIT.
It is quite possible to co-acquire a property independently of the fact of being a co-borrower, even if this situation is rather rare.
Definition of co-buyer
Co-acquisition can be defined as the joint purchase by one or more people of real estate . The legal nature of each buyer depends on the status chosen at the time of purchase ( SCI , joint ownership , matrimonial regime , etc.). This notion is not necessarily linked to that of co-borrower, on which it nevertheless most often depends.
Definition of co-borrower
The status of the co-borrower is governed by the loan agreement . As part of the Scrivener Law, the bank is required to send each borrower and each possible guarantor a prior offer. It defines the rules governing the relationship between each co-borrower, particularly in the event of default by one of them. Note that it is possible to co-borrow with one of his children without becoming a co-purchaser .
The different statuses of the buyer
In more than 90%, the status of co-purchasers living in a marital relationship (pacsés or cohabitation) is that of joint ownership. The status is simple to set up and does not incur any costs. Banks and notaries are accustomed to this type of real estate purchase which is a temporary situation insofar as the Civil Code offers each co-owner the possibility of leaving it at any time. Each buyer is the owner of a share of the property fixed at the start. Each co-owner is jointly and severally liable vis-à-vis third parties.
Housing management is more complex insofar as decisions must be taken unanimously. In case of separation, it will therefore be necessary the agreement of the two members of the couple to decide to sell the property. In the event of disagreement, the courts may decide.
Case of persons married under the community regime
This is the simplest and most classic case. The spouses are equal owners of everything purchased by the community. Real estate is therefore the common property of everyone.
Case of the SCI
Setting up an SCI is only justified in the case of a rental investment. The real estate civil society allows a plurality of buyers to become the owner of a property in common. The relationship between them is governed by the statutes.
In all cases and whatever the status of the buyer, the co-borrowers registered in the loan contract remain jointly and severally liable for the loan itself. Only the bank has the power to separate one of the borrowers in the event of separation .