Discover the interview of Bank Expert, our expert on the purchase of balances at Person A.
What is the redemption of cash?
Bank Expert : First of all, the term redemption of balance does not exist, the real term is the financing of balance . Sum intended to return the fair share to the other party, so as to become the sole holder of the property, which avoids having to sell. The balance is mainly used during a succession, a divorce or an exchange of property. It is a kind of compensation.
How is a cash payment calculated in case of separation?
SV : The amount of the balance is defined by a notary, called liquidation share, which establishes the assets and debts of each. This document is authoritative for brokers and banks to establish a loan.
How to buy the share of an apartment?
SV : The share buyback is the meaning of the balance to which can be added the outstanding loans on these same goods defined in the split liquidation including the calculation of the outstanding capital, penalties, fees and incidentals.
What are the benefits of the rebate?
SV : The advantages are a simple separation, so that the patrimonial and financial balance is respected. Payout financing usually takes place before the divorce is pronounced in order to liquidate the community.
In the case of a death?
SV : Unfortunately in this case it will be necessary to wait for the notary to draft the succession.
Can there be fees in a payout financing?
SV : In the financing of balance is added the emoluments of the notary and the penalties of prepayment on the loans in progress.
Example of calculation of balance:
Take the example of a divorcing couple who was married under the community-restricted property regime.
They had bought an apartment and still owe € 100,000 to the bank.
According to the certificate of value, the apartment is currently estimated at 300,000 euros.
How to calculate the amount of the balance:
(value of the apartment / 2) – (amount of capital remaining due / 2).
According to our example, the amount of the balance :
(300 000 € / 2) – (100 000 € / 2) = 100 00.
Clearly, the one who will become owner of the apartment will have to pay 100,000 euros of balance to the one who sells the good.
To this amount given as an indication, it will be necessary to add the penalties for early repayment, the emoluments of the notary, the costs of transfers and other taxes that are levied by the notary to be transferred to the Treasury and local authorities.