Donations & Legacies
According to Article 893 of the French Civil Code, a liberality is the action by which a person gives, free of charge, all or part of his or her assets or his or her rights to the benefit of another person. Liberalities are possible only between living people or by will.
1. Gradual and residual liberalities
Gradual liberality (Article1048 et seq. of the French Civil Code):
A gradual liberality is a donation or a legacy through a first person, the first done / legatee, who:
– is in charge of keeping the asset; and
– to pass it on at his or her death to a second person, the second done / legatee.
This second donee is already named by the donor who made a donation / legacy to the first donee. In fact, only the second donee is considered as the actual donee. The first donee does not have any right to dispose of the assets given by the donor / testator.
II. DUTY REBATE
III. PASSING ON COMPANIES
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SUCCESSION – DONATION – FEES AND SCALES_2014-07-14