Hello, again, I did the research on your question and this is the information I found,
First, the mortgage document which you signed will indicate whether or not it is recourse, or non-recourse where Credit Agricole could come after you for any deficiency, even if you gave the property back to them. However, my research also revealed that in almost all of these leaseback transactions, a "Non-Recourse Mortgage" is used, so that the lender is confined to the property and cannot go after the borrower's other assets
Second, it is highly unlikely that Credit Agricole would come after you for any deficiency even if it were a recourse situation because they do not like going after the borrowers. Additionally, if they were to sue you (which they would not), they would have to sue you in the UK and the Courts in the UK and in Ireland who hear these cases are very sympathetic towards the borrowers because the Courts frown upon the practices engaged in by the French lenders , and the "packages" which are sold to the buyers in these leaseback situations, including a management company.
For all of the foregoing reasons, you could give the property to the lender without fear that Credit Agricole would come after you for the difference between the loan and the diminished value of the property,
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