2024-01-14 05:00:00
In the real estate industry, owners need to be aware of the different rules governing inheritance and their effects on their assets. Thierry Delesalle, member of the Grande Parisienne group of notaries, gives important explanations on this complex issue.
The rights of heirs in the event of a donation or will
The first thing to know in an inheritance is that there are legal devolutions as devolutions by will of the deceased in the form of donation or will. When a person decides to carry out an act in favor of a loved one, this can have an impact on the rights of the other heirs concerned. Here are some key elements:
- Respect the rights of each heir (legitimate and reserved).
- Take into account the particularities linked to the family situation.
- Evaluate the tax consequences for beneficiaries.
The principle of hereditary reserve and the rights of reserved heirs
The presence of reserved heirs limits the possibility for the deceased to freely dispose of their property. French law provides that each child has the right to a minimum share of their parents’ inheritance, called “hereditary reserve”. The rest of the inheritance constitutes the “available portion” that the deceased can allocate to other people, in particular by will.
In certain cases, if the reserved heirs believe that their rights have been violated, they can take legal action to contest the allocation of property. It is therefore appropriate to think carefully regarding the legal consequences before giving or bequeathing property.
Joint management of goods received
When several individuals receive the same real estate during an inheritance, they must ensure its good joint management, according to the principle of joint ownership. This concerns in particular:
- Payment of charges and fees related to the property (taxes, maintenance).
- Decisions regarding sale, rental or work.
- The possible sharing of the property between the co-owners.
According to Thierry Delesalle, it is today impossible for a child to benefit from free use by a parent without taking into account other rights holders. This implies that the rights of each member of the joint ownership must be respected, including those of the usufructuary parent.
See as well
Respect for the rights of the usufructuary parent and the question of compensatory rent
If the usufructuary parent accepts the occupation of the property by their bare-owner child, they must in principle receive rent as compensation. Laury’s sister therefore considers that she should pay rent for this occupation in order to avoid family conflicts. This situation clearly illustrates the importance of take into account all the rights of heirs when managing a real estate estate.
Points to remember and advice for successfully managing a real estate estate
To avoid tensions and disputes between heirs, here are some recommendations on the management of inheritances involving real estate:
- Informer the other heirs of your intentions regarding the donation or bequest of real estate.
- Stay attentive to possible legal procedures which may be incurred by reserved heirs once morest a donation or a will.
- Ensure compliance with rights of everyone during the joint management of property received as an inheritance.
- Call a notary for you support and advise you in these procedures, but also to be kept informed of regulatory and case law developments.
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