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T Perrin C
T Perrin C, Consultant: information en droit du travail
Category: French Law
Satisfied Customers: 1412
Experience:  8 years as a Senior judge at Paris Conseil de Prud'hommes (Paris Industrial Tribunal)
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I bought property In France for 7Keuro in 1988.I donated

Customer Question

I bought property In France for 7Keuro in 1988.
I donated it to my adult children in 2001,but I kept usufruit.The value at donation was 10Keuro.
The property was sold 2013(mandat de vente signed before 7dec2013,but ? Not compromise)for a sale price of 76Keuro.
Who of the three of us pays French CGT and how is it calculated?All 3 of us are resident in EU/EEA
Should bills paid to tradesmen for improvements to property be in name of person with use fruit or the two who received the donation,or does it not matter whose name(s)the bills paid are in
Submitted: 4 years ago.
Category: French Law
Expert:  Fran-mod replied 4 years ago.
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Expert:  T Perrin C replied 4 years ago.
CGT will be paid according to the share of the usufruitiers and the nus-propriétaires. (ex: if you are 71, you will get 40% of the selling price and pay 40% of CGT; your children the 60% remaining). To estimate the plus value you can use the following simulator, among others
The bills must normally be in the name of the person who wants to deduct them from their share of plus value.
Your notaire should be able to assist you with this.