Leaseback trouble
Reading this thread is quite scary. I own a leaseback in France and have had some difficulties getting rents paid from the leaseback co. In fact the leaseback company have had a couple of judgements ruled against them re non payment to other tenants and are in serious financial trouble.
Despite this I am reluctant to sell the property as it has seen good capital appreciation since it was bought. I would love to break the lease and pay the T.V.A as I feel I could rent it out myself. (I can re-mortgage to raise this finance)
I have a couple of questions:
What are the financial penalties Imposed if you break the 9 year
lease agreement? (am I even allowed to?)
I know that the T.V.A is clawed back in proportion (5% over 20 years)
for every year remaining.
Is there a similar % or formula vis a vis the lease break?
Thanks,
Garrett Begley.
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