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Bare ownership (nue-propriété)

Don’t confuse viager lease with occupied viager. Our 2025 guide clarifies how it works, the risk of lifelong rent, and the benefit of immediate capital.

3 min de lectureMis à jour le 7 juillet 20264 questions fréquentes

When considering monetizing your real estate assets while staying at home, occupied viager is often the first solution mentioned. However, another strategy, more direct and often more powerful for those seeking capital, deserves your full attention: the sale of bare ownership (nue-propriété).

Less focused on monthly income and entirely geared toward obtaining immediate capital, the sale of bare ownership (nue-propriété) is a first-rate wealth management solution. This 2025 guide explains how it works, its advantages, and how it differs from viager.

What is bare ownership (nue-propriété)? Definition and how it works

Selling bare ownership (nue-propriété) means transferring the “bricks and mortar” of your property while retaining the right to use it for life. This right you keep is usufruct.

The principle is that of property dismemberment. Full ownership is split into two distinct rights:

  • Bare ownership (nue-propriété) (what you sell): the right to become full owner upon the death of the usufructuary. The buyer is the bare owner (nu-propriétaire).
  • Usufruct (what you keep): the right to live in the property AND to rent it out to receive the income. You are the usufructuary (usufruitier).

Upon your death, the usufruct automatically expires. The bare owner then recovers full ownership without any inheritance fees.

The strategic advantages of selling bare ownership (nue-propriété)

Receive a substantial and immediate capital sum

This is the number one advantage and the main reason for choosing this option. Unlike viager, which splits payment between a bouquet and life annuities (rente viagère), the sale of bare ownership (nue-propriété) results in the payment of a single capital sum, paid in cash upon signing the deed. This capital corresponds to the property’s value, discounted by the value of the usufruct you retain. It is at your full disposal to finance a project, make a gift, or diversify your assets.

Maintain full flexibility thanks to usufruct

By retaining usufruct (rather than a mere right of use), you keep total freedom. If you later decide to move into a senior residence or relocate, you have the right to rent out your property and collect 100% of the rent for life. This is a valuable flexibility that classic occupied viager does not allow.

Bare ownership (nue-propriété) vs. occupied viager: the key comparison

The question is not which solution is better, but which one matches your needs.

Occupied viager is an income solution. Its goal is to provide you with a monthly life annuity (rente viagère) to supplement your retirement and improve your daily life. The bouquet is a bonus, but the main objective remains a steady, guaranteed income stream for life.

The sale of bare ownership (nue-propriété) is a capital solution. Its goal is to provide you with the largest possible sum of money in one go. It is a wealth management tool designed to finance a specific life project:

  • Making a significant gift to your children or grandchildren.
  • Helping a loved one in financial difficulty.
  • Financing a personal project (travel, purchasing another residence).
  • Simply enjoying your assets fully during your lifetime.

In conclusion, if occupied viager is the ideal solution for securing a peaceful future with regular income, the sale of bare ownership (nue-propriété) is the ultimate wealth management tool for immediately converting your property’s value into available capital, while ensuring you remain in control of your home.

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FAQ

Vos questions, nos réponses

Tout ce qu'il faut savoir avant de se lancer.

01Can I sell the bare ownership (nue-propriété) to my children?
Yes, this is entirely possible. However, the tax authorities may consider it a disguised gift if the sale price is clearly undervalued. It is crucial to have the property appraised by a professional to set a fair price and secure the transaction.
02Who pays for major building works?
This is a major advantage for you: major repairs (as defined by Article 606 of the French Civil Code, such as facade restoration or roof repairs) are the responsibility of the bare owner (nue-propriété). As the usufructuary, you are only liable for routine maintenance.
03What happens if I want to carry out renovation work?
As the usufructuary, you may carry out all interior improvement and renovation work (new kitchen, bathroom, decor) without seeking the bare ownership (nue-propriété) holder’s approval, provided this does not alter the property’s nature.
04Is selling **bare ownership (nue-propriété)** advantageous in major cities?
Yes, particularly so. In high-value property markets like Paris, Lyon, Bordeaux, or Nice, selling the bare ownership (nue-propriété) allows for the release of extremely significant capital, which would be unattainable through the bouquet alone in a viager.