Subdivision of ownership
Subdivision is possible under French law.
The attributes of ownership may be separated as follows:
- Usus: right to use the object
- Fructus: right to collect the fruits of the object
- Abusus: right to dispose of (sell, destroy) the object.
Usus and fructus constitute: Usufruct.
Abusus constitues Bare ownership.
Usufruct may have a fixed duration or be for life (the most common situation). If the beneficiary is a legal entity, usufruct may not last for more than 30 years.
In tax terms the subdivision of the ownership of real estate assets has numerous consequences.