Partner François Régis Fabre-Falret first gave an update on the digitization of the real estate world because the firm has “the ambition to become a small player in real estate start-ups”, particularly in the proptech and blockchain sector.
The rise of blockchain in the real estate sector
The lawyer has also participated in the creation of a white paper on blockchain in real estate and the use of smart contractsand is currently working on the tokenization of financial securities.
This technology makes it possible to be a tamper-proof and secure base that ensures immutability which is very important in real estate. This system is also decentralized and transparent because it allows access to all information on the blockchain at any time and in any place, which ensures absolute security.
The LPA-CGR firm tested the execution of a lease on the blockchain. “If it works technically perfectly, unfortunately we always need an external command as for a command to pay it requires the intervention of a judicial officer”, specified Me François Régis Fabre-Falret.
This is one of the pitfalls detailed in the white paper which highlights the need for trusted third parties and the importance of GDPR regulation with its right to be forgotten.
“It’s a small revolution that will take time to set up because there are a lot of promises and fantasies. Some states are very advanced, such as Estonia, and are already using blockchain on a large scale, for example in the management of their cadastre,” explained the lawyer.
Climate and Resilience Law and new urban planning rules
Lawyer Hélène Cloëz, a partner who works in town planning and development law, has deciphered the Climate and Resilience law, in particular on the new urban planning rules concerning the artificialization of soils which must be reduced by two in the next 10 years. Municipalities now have more than 6 years instead of 9 to open new areas of net artificialization and are prohibited from issuing commercial operating permits for projects involving land artificialization such as ZACs or shopping centers.
The Town Planning Code has also introduced a number of derogations from the rules of the local urban plan (PLU) such as to favor exemplary constructions from an environmental point of view, for example by facilitating the greening of facades and roofs, which makes it possible to derogate from the rules on the height of the building, the construction of works on industrial wasteland or the removal of a parking area for motorized vehicles in order to replace it with bicycle parking.
The Climate law has also modified the notions of density and reversibility in the city to boost building destination changes, including raising.
A device also modifies the Littoral law to limit its erosion by setting a new coastline with the creation of a right of pre-emption in order to promote the acquisition of assets that will be exposed by the hazard of the retreat of the coast in order to secure them or destroy them by prohibiting any new construction.
Haro on DPE modifications
The speakers also discussed the reform of the energy performance diagnosis (EPD) which is causing a lot of ink to flow.
For the partner Sidonie Fraiche-Dupeyrat, “the noose is tightening on housing via the cornerstone of the Climate law which is the DPE”.
This document displays the energy performance of the accommodation and the building, its rating with regard to greenhouse gas emissions and the renewal of its energies. He will be reinforced and will have to be renewed every 10 years, unless the building is well classified (A, B or C). For the lawyer, “this leads to making the energy performance of the building a criterion of decency by laying down strict principles”.
All housing classified E, F and G will be classified as indecent from 2034, with the exception of a technical, architectural or heritage impossibility, or the disproportion of the cost of the work in relation to the value of the property.
Even more punitive, the Climate law imposes a rent freeze on poorly classified housing or said to be “non-performing” (for the moment only F and G) from 2022.
” It’s tomorrow ! Energy performance will become an element of the value of buildings, the famous green value,” warned the lawyer.
On the good news side, this same law restricts the obligation of information and improves the valuation of housing.
On the new side of co-ownership and green finance
Me Pascaline Déchelette-Tolot went through the new provisions in condominium law (see infographic below) which has only one coercive point related to the contribution to the works fund at least equal to 2.5% of the amount of the works provided for in the plan adopted for the past year. On the other hand, the co-ownership may be exempted from producing a DPE if it votes for a multi-year work plan to improve the energy performance of the building.
Finally, partner Hassan Javanshir and his two associates took stock of the outline of green finance (modernization of the documentation of green credits with allocation of funds to an environmental pillar and strengthening of their traceability) and the security law reform which have a certain importance in real estate matters.
They specified 3 axes: modernization (particularly with the extension of property securities and the scope of the electronic signature to many deeds); the simplification (pledges and pledges); and the flexibility (transfers of receivables and sums of money as security and securities account pledges as on SCIs).
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