French Usufruits - recent Cour de cassation decision on their nature

The French Cour de cassation has handed down a ruling confirming several points in relation to the nature of a usufruit, which undermines HMRC’s current attempts to assimilate these to trusts capable of “regulation” as such within the context of of s.43(2) ITA 1984.

Please feel free to refer to https://overseaschambers.com/media/59016/french%20usufruits%20and%20their%20status%20as%20rights%20in%20rem%20-%20a%20recent%20decision%20of%20the%20french%20cour%20de%20cassation..pdf
subject of course to the usual T&Cs.
In that context, please note the change in my contact details and jurisdiction.

Peter Harris

I have seen a disturbing “advice” from a firm of solicitors, with a French avocat on their pay roll, that a usufruit dismemberment by way of a gift of the nue-propriété was a trust. There is no fiduciary relationship between a usufruiter and a nu-propriétaire which could conceivably give rise to any trust - and therefore not to a settlement - over French land.