The French notary keeps the deeds of ownership of your property in his office for 100 years, then is kept at the national tax office. The French notary is also responsible for the calculation and collection of specific taxes related to a real estate transaction in France, including, but not limited to, the calculation, collection and payment of capital gains tax on real estate. The notary is responsible for withdrawing taxpayers` money from you on the proceeds of the sale and paying the tax authorities for you. Note: the notarial deed is drawn up in a single original, called “Minute”, kept by the notary. On the basis of these minutes, the notary produces authentic copies of the deed which he submits to the parties. However, the support of a notary is only mandatory for real estate purchase contracts. In company law, French lawyers have the right to carry out the incorporation of companies, the transfer of shares and registration in the commercial register without the help of a notary. The notary is an official appointed by the Minister of Justice, mandated by the State for a public service mission. To fulfil its mission, the State entrusts the notary with part of its public power: the notary ensures the public service of authenticity. This means that he has real prerogatives over the public power he receives from the state. A maximum discount of 10%, strictly regulated by Article A444-174 of the Commercial Code created by Article 2 of the Decree of 26 February 2016, may be decided by the notary for records over €150,000.
The French notary is responsible for ensuring that the procedure is conducted in accordance with French property law and that any stage of the sale of real estate is ensured. As the notary has an obligation towards the public interest (“a function of public interest”), his fees are set by legal provisions. The fees set by the above-mentioned Compensation Act consist of a fixed rate and a proportional rate. For some tasks, such as for example. B commercial leases, notaries have the right to negotiate their fees freely and directly with their clients. “Notary fees” are actually called acquisition costs. They are made up of taxes and levies called “registration fees”. . . .