INVESTMENTS IN HISTORICAL MONUMENTS

Any taxpayers domiciled in France who purchase or who own real property that is classified, registered with or approved by the Department of Cultural Affairs and who carry out restoration works may benefit from the law on Historical Monuments.

 

This tax exemption is intended to favour the maintenance and restoration of real property classified as Historical Monuments. For the buyer, this allows for deduction of the costs of restoration and maintenance and the borrowing interest connected with the acquisition of the real property and for the works at 100% of the real estate income.

 

Thus, this is addressed to highly-taxed taxpayers who are seeking to invest in real estate while effectively reducing their taxation. This creates an estate that is much more interesting since the donation or transmission of this estate is thus exempted from inheritance taxes.

 

Numerous structures have been designed on the basis of these tax mechanisms in order to offer “packaged” investment products to investors. However, it is not rare that difficulties exist both at the level of the structure itself and at the stage of its

Examples of issues addressed by the Firm :

 

  • Management of crises at the operating level of the ASLs (homeowners’ associations) (vehicles often created to group the investors),

  • Management of worksite crises (stoppage of work, termination of the works contract, etc.),

  • Assisting the project owner in monitoring the operation (assistance at worksite meetings, general meetings of shareholders of the ASL, operational and legal relations with the project managers, etc.),

  • Actions for compensation of harm suffered by the investors,

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