Donation of real es tate with reserve of usufruct

ANNONCES

In the last Petit Immo, we announced ways to optimize the transmission to your children. Indeed, you could consider passing on real estate to your children by reserving the usufruct.

1) How does it work?

It is a question of giving a property while keeping until your death the right to use the property and to rent it. We are talking about the dismemberment of property. The prerogatives of the right of ownership are distributed as follows:

- on the one hand, the donees who will be bare owners. They will have the right to dispose of the property (sell it or give it). The bare owners will not assume any maintenance expenses except for major repairs.

- on the other side, the donor who will be usufructuary. He will have the right to use the property or to collect the rents. In return, he will assume all maintenance costs except major repairs. He will also be responsible for the property tax. Everyone has the ability to dispose of their right but within the limits of it. Thus the bare owner can only sell the bare ownership alone. He will need the agreement of the usufructuary to sell the full property.

2) What is the point?

This technique makes it possible to gradually organize the transmission to your children without stripping you completely and while simplifying the settlement of your estate. Indeed, on the death of the donor, the usufruct is extinguished in favor of the donee who then becomes full owner, without any formality to be carried out. This also has a tax interest. In fact, the gift duties are calculated on the sole value of the bare ownership. On the day of your death, your usufruct will end without the tax authorities considering it to be a new transfer of taxable property. As a result, part of the value of the property will never be taxed and if the donation was made more than 15 years ago, a new tax deduction will be available for the estate. The value of your usufruct is calculated according to a tax scale that takes into account the age of the usufructuary. If you are between 51 and 60 years old, it is 50% of the value of the property in full ownership; between 61 and 70, by 40%, and so on.

3) How best to regulate the conditions of this donation?

It is possible in the deed of gift to provide for certain clauses which will best adjust the relationship between the donor and the donee. In particular, you can provide that major repairs will remain the responsibility of the usufructuary donor. Consequently, the donee will have nothing to spend for the duration of the usufruct. You can prohibit the donee from alienating and mortgaging the property. This means that he will not be able to give, sell or pledge the property during the life of the donor, unless he obtains your agreement. You can provide that the property must remain the donee’s own property. In case of marriage of the donee, the property will remain excluded from the community except with your agreement. He may also be excluded from joint ownership.

4) What are the disadvantages?

The donation is an irrevocable act. It requires a global reflection on your heritage. For example, if you donate your main residence, you will no longer be able to sell it without their agreement. The sale price will then have to be divided between donee and donor according to the value of your usufruct, and this will be calculated according to your age on the day of the sale.

L’Allianz Riviera

Terrain de jeu incontournable et réunissant toutes les générations de 1927 à 2013, le stade du Ray a tiré sa révérence pour laisser place à une structure plus moderne, et surtout éco responsable, l’Allianz Riviera.

Non sans embuche, ni polémique. On vous raconte la naissance de ce nouveau terrain de jeu local novateur, plus grand que le précédent, situé au cœur de l’éco vallée à l’ouest de Nice.

Avec ses lignes futuristes et sa taille imposante, il est la pièce maîtresse de ce côté de la ville qui se développe à vue d’œil. Les travaux de l’Allianz Riviera commencent en août 2011 pour se terminer en 2013, deux ans durant lesquelles un premier projet a été annulé (en 2002), puis un certain nombre de contentieux a secoué ce chantier sans jamais l’ébranler. Même la couleur des sièges a fait polémique, l’architecte en charge voulant du gris ou du jaune, les supporters on fait circuler une pétition, ce sera finalement aux couleurs du Gym.

D’une superficie totale de 54 000 m2, il peut accueillir 36 000 supporters lors des matchs de football, 35 000 lorsqu’il est en configuration pour les matchs de rugby. 44 000 spectateurs peuvent assister aux concerts. Le bâtiment est doté de 44 loges. 22 se trouvant côté Ouest et 22 côté Est. Chacune a une capacité de 12 à 24 places. 10 000 m2 sont aménagés de manière à pouvoir recevoir dans les meilleures conditions les convives, pour des séminaires, conférences ou autre.

Une structure écologique. En effet, l’essentiel de sa structure est en bois et proportionnellement peu de métal. Un jeu d’ombre et de lumière pour apercevoir les poutres de métal, une large partie est recouverte de panneaux photovoltaïques représentant une superficie de 7 000 m2 et regroupant

4 000 panneaux. La ventilation se veut naturelle, profitant de sa situation géographique et pouvant profiter des vents de la plaine du Var pour rafraîchir l’air par le biais d’un système de mur soufflant. Tout cela réuni et quelques autres encore, fait que ce stade devrait produire trois fois plus d’énergie qu’il n’en consomme.

Le cœur du Ray, le rond central en pelouse du Ray a été replanté le mardi 3 septembre 2013 dans le jeune terrain de l’Ouest de Nice. Un symbole fort pour les supporters du Gym et les niçois. C’est désormais un lien indéfectible qui les lie, plus qu’un symbole, c’est un signe de continuité.

Depuis 2014, l’Allianz Riviera abrite en son sein le musée National du sport. Lieu unique dans notre région de conservation et de valorisation du patrimoine sportif. C’est un atout qui régale autant les grands que les petits.

Enceinte unique qui associe toutes les générations, c’est une véritable machine à fabriquer non seulement des souvenirs en famille, mais également des moments magiques et uniques. Que vous vous y rendiez pour un concert, pour un match, pour un événement associatif, professionnel, vous en ressortirez avec des étoiles dans les yeux et un souvenir en plus dans votre escarcelle. L’Allianz Riviera, un endroit que l’on n’oublie pas.

Allianz Riviera

An essential playground and bringing together all generations from 1927 to 2013, the Ray stadium has bowed out to make way for a more modern structure, and above all eco-responsible, the Allianz Riviera.

Not without pitfalls, or controversies. We tell you about the birth of this new innovative local playground, larger than the previous one, located in the heart of the eco-valley to the west of Nice.

With its futuristic lines, and its imposing size, it is the centerpiece of this side of the city which is developing visibly. The work of the Allianz Riviera began in August 2011 and ended in 2013, two years during which a first project was canceled (in 2002), then a certain number of disputes, shook this site without ever shaking it. Even the color of the seats was controversial, the architect in charge wanting gray or yellow, the supporters circulated a petition, it will finally be in the colors of the Gym.

With a total area of 54,000 sqm, it can accommodate 36,000 supporters during football matches, 35,000 when configured for rugby matches. 44,000 spectators can attend the concerts. The building has 44 boxes. 22 on the west side and 22 on the east side. Each has a capacity of 12 to 24 seats. 10,000 sqm are laid out in such a way as to be able to receive guests in the best conditions, for seminars, conferences or other.

An ecological structure. Indeed, most of its structure is made of wood and proportionally little metal. A play of shadow and light to see the metal beams, a large part is covered with photovoltaic panels representing an area of 7,000 sqm and comprising 4,000 panels. The ventilation is intended to be natural, taking advantage of its geographical location and being able to take advantage of the winds from the Var plain to refresh the air through a blowing wall system. All of this, and a few more, means that this stadium should produce three times more energy than it consumes.

The heart of the Ray, the central circle in the lawn of the Ray was replanted on Tuesday September 3, 2013 in the young land of the West of Nice. A strong symbol for Gym supporters and the people of Nice. It is now an unbreakable link that binds them, more than a symbol, it is a sign of continuity.

Since 2014, the Allianz Riviera has housed the National Sports Museum. Unique place in our region for the conservation and promotion of sports heritage. This is an asset that delights both adults and children.

A unique enclosure that brings together all generations, it is a real machine for making not only family memories, but also magical and unique moments. Whether you go there for a concert, for a match, for an associative or professional event, you will come out with stars in your eyes and an extra memory in your purse. The Allianz Riviera, a place you won’t forget.