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Real estate terms that begin with B

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Letter B

Industrial and Commercial Profits (BIC)

For tax purposes, industrial and commercial profits (BIC) are made by a natural person who exercises a commercial, industrial or craft profession. An activity is considered commercial when the person performs acts of commerce, for example: the purchase of goods, or the rental of furnished property. For an activity to be considered a profession, it is necessary that the person acts for the purpose of earning income from it, and on his own behalf.

Civil lease

Rental contract of a property. When no mandatory law governs the lease, it is subject to the rules of the Civil Code. This is the case, for example, with the rental contract for a garage or car park, if it is rented independently of a dwelling.

Commercial lease

Contract for the rental of real estate granted to a trader, craftsman or industrialist, who carries out his activity on the premises. The commercial lease is mandatory by articles L 145-1 and following of the Commercial Code. This very specific regime is complex. It allows the tenant to benefit from a right to the renewal of his lease.

Residential lease

Rental contract for a dwelling or a house. When the property is the tenant's main residence, the lease is obligatorily subject to the law of 6 July 1989, whether the property is rented unfurnished or furnished.
In other cases, the lease is a civil lease, subject to the Civil Code alone, for example for a second home.

Professional lease

Rental contract granted to a tenant who exercises a liberal profession in the premises, without living there. Doctors, lawyers... benefit from this status, governed by Articles 57 A and 57 B of the Law of 23 December 1986.
It is possible to place oneself, voluntarily, under the regime of the commercial lease.

Lessor

In a rental agreement, the lessor is the one who makes the property available to the tenant. This is usually the owner of the property. The tenant must pay him the rent. The lessor undertakes that the tenant can benefit from the property. He must carry out repairs that are not the responsibility of the tenant.

Visit voucher

The Visitor Voucher was created by real estate professionals. It is a writing that the real estate agent makes the client sign interested in the purchase of a property. It allows the professional to establish that a client has visited the property with him, in order to protect his right to remuneration. The real estate agent may ask the client who wishes to visit a property to prove his identity, in particular when signing the visit voucher.

Demarcation

Demarcation consists in determining the separative boundary of two contiguous properties. It is carried out by a surveyor. The demarcation can be carried out amicably, by the owners of the property concerned. The expert surveyor they have chosen will draw up a demarcation report and set the boundaries on the ground. The demarcation can also be judicial, when the neighbors do not agree: it will be ordered by the district court at the request of one of them.

Bouquet

The bouquet designates, in a life sale, the part of the price that is paid by the buyer when signing the deed of sale at the notary. Indeed, the price of a life annuity is generally divided between the annuity, paid periodically to the seller (credirentier), and the bouquet, paid from the authentic deed. The breakdown of the price between the bouquet and the annuity is freely defined by the parties to the act. However, a certain balance must be respected in order not to run the risk of a cancellation of the sale.