Faure-Letchimy property law adopted in Senate | THE DAILY HERALD

 

MARIGOT–Senator Guillaume Arnell disclosed that the Faure-Letchimy Law pertaining to facilitating the exit of undivided co-ownership succession was recently adopted in the Senate and will come into force when it is promulgated by the President of the Republic.

  “Before the law came into force, the consent of each of the undivided co-owners was required for the deeds of disposition, and in particular in the event of a sale or sharing.

  “The unanimity rule then frequently led to situations of blocking in the event of distance or disagreement between the undivided co-owners, thus paralysing any construction project, reconstruction or rehabilitation of undivided property,” Arnell explained in a communiqué.

  “This law constitutes a major step forward for overseas undivided successions by providing, subject to compliance with certain substantive and procedural rules, the absolute majority (51 per cent) of the undivided rights held in full ownership will suffice to take deeds of disposition on undivided property, and it will have the effect of releasing a significant part of the land paralyzed in the context of joint inheritance overseas and particularly in St. Martin.”

  Initially, St. Martin was excluded from the provisions of the Faure-Letchimy Act. The draft law presented by Serge Letchimy, Member of Parliament (MP) of Martinique, was introduced on December 6, 2017, to the National Assembly at first reading.

  This bill, the main purpose of which was to relax majority rules in the context of an undivided succession, was doubly limited in principle: the first limit was temporary. It was planned that this flexibility scheme would be applicable until December 31, 2028, and only for successions that have been open for more than five years.

  The second limitation was geographical. The purpose of the Faure-Letchimy bill was not to apply only in matters of joint ownership of undivided property located on communities governed by Article 73 of the Constitution (i.e. Guadeloupe, French Guiana, Martinique, Mayotte and Réunion). The Collectivité of St. Martin, governed by the provisions of Article 74 of the Constitution, was excluded from the territorial scope of the proposed law.

  “However, in my opinion, the land situation in St. Martin, like that of the above-mentioned territories, justified, in particular, the following in view of the difficulties encountered in the territory in terms of joint inheritance, the introduction of such a system softening device,” Arnell continued.

  “In view of the abovementioned issues, it seemed essential to me to promote the interests of St. Martin. Therefore, on the basis of the analyses carried out in close collaboration with my two colleagues whom I particularly thank for their expertise, I worked throughout the Senate’s review of the legislation, making it clear that the Rapporteur of the Law Commission responded favourably to my request and proposed by amendment to include St. Martin in the territorial scope of the proposed Faure-Letchimy law, on the same basis as all local and regional authorities governed by Article 74 of the Constitution.

“Application of the proposed Faure -Letchimy Law is welcome for the territory, but not to the detriment to rights of undivided co-owners: Extension of the reserved opposition period from 3 to 4 months to the undivided co-owners. If flexibility were to be introduced, it was important to ensure that it would not be at the expense of rights of the undivided co-owners.

  “This is why I have proposed other adjustments to this system, in particular by defending an amendment to extend the time limit for opposition to the proposed sharing or sale from 3 to 4 months the interest holder residing abroad.”

  The main points to remember: The entry into force of the law to facilitate the exit from joint ownership of an estate now authorizes joint owners, subject to obtaining an absolute majority of undivided rights (51 per cent), to take deeds of disposition (sale or sharing) on undivided property.

  If the Faure-Letchimy law does not address certain issues (e. g. situations of persons legally capable of but unable in fact), the fact remains that it has the merit of providing many solutions to these problems of joint inheritance which paralyses land overseas.

“As a legislator, I am proud of the work accomplished, which reflects the vigilance and perfect cohesion with my team of collaborators in parliamentary monitoring. We were able to identify the omissions and shortcomings of the text during its first reading in the National Assembly and have worked to make the necessary corrections during its review by the Senate,” Arnell concluded.

Source: The Daily Herald https://www.thedailyherald.sx/islands/84119-faure-letchimy-property-law-adopted-in-senate

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