Bare ownership and dismemberment
French law allows the ownership of a property to be split between the bare ownership and the usufruct, the right to use it and to receive its income. Selling one without the other is a recognised way to release capital, to pass property on, or to invest over a long horizon.
For an owner
You sell the bare ownership and keep the use of your home, or the rent it produces, for a fixed term or for life. You receive capital now, you remain at home, and the ordinary running costs and major works pass in large part to the buyer under the French Civil Code.
For a buyer
You buy the bare ownership at a discount that reflects the value of the usufruct and its expected duration. You receive no income during that period, and you become full owner at its end without further payment or transfer duty.
For a family transfer
Giving the bare ownership to children while keeping the usufruct is one of the most common arrangements in French estate planning. The tax treatment depends on the age of the person keeping the usufruct, on a scale set by article 669 of the French tax code. Your notary will confirm the figures for your situation.
How we work
ClayImmo handles the property itself: the valuation, the presentation, the buyers. The structuring of the transaction is handled with Viva Viager, our sister house, which specialises in these arrangements in Paris and across France. You keep one point of contact.
This page explains a legal mechanism in general terms. It is not tax or legal advice. Every arrangement is drafted and certified by a notary, who will confirm what applies to you.