What a Notary does when you retire to live abroad?
Check your identity
Assist you in executing necessary Documents in England, in connection with your foreign property purchase
Assist you in witnessing your Will
Obtain necessary further legalisation stamps from the Embassy or Consulate of the foreign Country, or from the British Foreign and Commonwealth Office, as necessary
And just to be clear – What a Notary does NOT DO!
* Tell you all about the tax system of the foreign country [some countries have Wealth tax chargeable in respect of all your worldwide wealth after you have moved to live there]
* Tell you whether you will get medical care there and at what price and in what circumstances
* Tell you whether you have enough money saved to fund your new life
* Give you any advice as to future political changes abroad or in UK or tell the Future at all.
Nor can a Notary do anything about the fact that house values change.
For example in London house prices are now nearly 20 % above their 2007 peak whilst in the Spanish Costas prices remain as much as 60% below the 2007 peak.
So on those figures a person selling a London property of £1m in 2007 to buy a Spanish place for £1m probably got a much larger residence for the money. BUT – if they are now older and perhaps infirm and rather lonely and missing their English friends and family, – or maybe one partner has died or become ill – they might be faced with selling their Spanish home for only £400,000.00 today and finding that their equivalent London house now costs £1,200,000.00 –three times as much money as they possess.
I do urge anyone thinking of moving to the Sunshine, to take second and third thoughts and to take proper all-round advice from expert lawyers abroad. Sometimes the right advisor is hard to find. In the case of Spain, I do have a network of contacts whom I can recommend to you
Whoever you are, your Notarial work needs to be thorough, and your preparation needs to be thorough too. Contact me at http://www.atkinsonnotary.com +44 (0)113 816 0116