As the title reads; I'm about to inherit a villa in France from a deceased relative.
The problem with this is the 60% inheritence tax they currently have in France. I spoke to a broker in France who told me; Once the house has been valued, I will have to pay 60% of the total value of the house BEFORE I even get the house on the market to sell it.
Houses in that area are valued at about 400,000 - 1,200,000 €. Keeping in mind that I'd have to put up 60% of the value, I'd have to take out a bank loan. Wich, in current state, would be impossible since I'm studying.
I don't live and never have lived, in France. He was my cousin so there's no chance for me to dodge the inheritance tax. Only close family members can reduce the tax, afaik.
My question to you guys is this; Do you think the banks in France are willing to hand out a loan to a foreigner to pay for inheritance taxes? If not, then this stupid inheritance tax is gonna make me go bankrupt.
Are there any plausible ways to somehow reduce the taxes payed towards the inheritance tax? I.e. undervalue the house or similar.
I'm sorry for my poor English, it's not my native language. Also, it's getting pretty late here, so I might not respond tonight, but I'll make sure to reply tomorrow should I fall asleep now. Thanks all in advance!
Submitted September 03, 2017 at 03:47PM by Yippieshambles http://ift.tt/2gCmGs1
