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Loans for assignies agricultural properties

06.10.2016

The law on French agricultural orientation gives tax advantages to farmers who sell their business to young farmers.

  • Conditions of loans for assignies agricultural properties

    • Young farmers must be aged under 40 and be in the process of setting up in business or have been operating for less than 5 years.

    • Young farmer will be agree to receive part of the price at a later date.

    • Temporary measure : applies to sales signed between 18 May 2005 and 31 December 2010

  • Eligible sales

    • They must be of entire farms (all constituent parts of the property concerned in running the farm, entire business sector or all the seller's shares/stakes in an agricultural group or company).

  • Formalities

    • The sale agreement must be authenticated (i.e. drawn up by a notaire).

  • Condition of funding

    • At least half the selling price must be paid on the date of sale.

    • The balance is payable between the 8th and 12th year following the sale.

    • Payment must be in cash and the interest rate on the balance is capped.

  • Tax advantages

    • Tax deduction of 50% of the interest received up to an annual limit of :
      - €5,000 for single, widowed or divorced taxpayers,
      - €10,000 for married taxpayers or those in a Civil Union (PACS) subject to joint taxation.

See also
06.25.2014
The role of the Notaire
29.11.2016
The letter of the notaries of France in the world / November 2016
25.01.2017
French property market report / N°34
congres_notaires_europe_cnue_2017
22.09.2017
4th Congress of the Notaires of Europe