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    Bare ownership and usufruct in France Guide

    A bit of History…


    Bare Ownership dates from 1804, when France introduced the Napoleonic Code (Code Napoleon, officially the Civil Code). From then on, farmers were able to donate their farm and land to their eldest son and carried-on rearing animals or growing crops for their benefit, until they died. At that point, the beneficiary would become the full owner of the farm and land, thus free to dispose of it or exploit it for himself.



    Bare Ownership investment in France…


    ‘’Démembrement’’ in French, is the legal division of ownership in two distinct parts: “Bare Ownership” (Nue Propriété in French) and “Usufruct” (Usufruit in French). An investment in Bare Ownership can offer long term capital growth in a totally secure acquisition, without incurring costs/taxes for the investor during their period of full ownership, typically 12-18 years. The investor holding the Bare Ownership benefits from an immediate reduction of 25% to 40% off the purchase price, as an upfront compensation of rent, and net of costs, taxes, and charges.

    We select quality assets for our clients: French Freehold properties located in the most sough-after areas, where demand from tenants is the highest, typically in Paris and its region, Côte d’Azur, major cities in France. All representing great investment opportunities



    How it works


    The private investor acquires a Freehold property in France as Bare Ownership for 60% to 75% of its market value. At the same time, the Usufruct (usage rights) is acquired by a Lessor (Housing Association) for a fixed term of 12 to 18 years, who will rent and fully manage the quality French property for the whole period and be legally responsible for all costs, maintenance, and taxes.


    The rent paid upfront, is equivalent to what would have been collected over the period – had it been a classic Buy to Let – without any hidden charges nor risks. At the end of the temporary usufruct of 12-18 years, the Bare Owner (Nu Propriétaire in French) legally becomes the Full Owner (Plein Propriétaire in French). The investor’s benefits derive from the free and automatic recovery of the Usufruct (Remembrement de Proprieté in French).


    At the end of the usufruct period and upon valuation of the property, the investor automatically recovers Full Ownership of the property, free of charge, renovated and ready to be sold at full market value, let, or used personally.




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