Buying a French Property "en demembrement"

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gauloise

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I would be grateful if anyone has information about purchasing a property "en demembrement". From what I can gather 3 conditions prevail : the owner cannot sell, occupy or rent the property for a given number of years but can purchase at a price significantly below current value..have I got this right? Any information appreciated!
 
I think you'll find that you are buying a property but that someone else has the right to use it for the rest of their life - you only get full possession when they die.

It's often used in France to reduce the impact of inheritence taxes, which are much higher than in Ireland
 
gauloise said:
I would be grateful if anyone has information about purchasing a property "en demembrement". From what I can gather 3 conditions prevail : the owner cannot sell, occupy or rent the property for a given number of years but can purchase at a price significantly below current value..have I got this right? Any information appreciated!
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Are you actually looking at properties or is this just an academic question? If the former then you should really be talking to a solicitor with experience of conveyancing in France.
 
It'a a property I'm looking at in Guadeloupe with Pierre et Vacances and is a renovation project they are undertaking. I am familiar with the type of property jpd referred to but had not come accross this term being used outside the circumstances outlined by jpd. Basically PV are selling units "en demembrement" for 15 years and I wanted to know whether anyone has purchased under such conditions in the past and what their experiences good or bad were.
 
I have seen this with some other properties in France, it means someone else a management company rents the property for 15 or 20 years to a third party. You buy the property at approx 40%-50% of value but have no right to rents or to occupu property until the 15-20 years are over.
I think it is a fairly new way of selling property so I am not sure you will find people that have been through the process.
 
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