Dismemberment scale: calculation of usufruct and bare ownership

Updated March 2026 - The dismemberment scale is an essential tax tool for anyone considering a wealth transfer, donation or inheritance. In 2026, this scale remains fixed by Article 669 of the General Tax Code and determines the value of usufruct and bare ownership based on the age of the usufructuary. Understanding this scale means anticipating transfer taxes and optimizing your wealth transmission strategy.

See also: Donation partage, Disadvantages of dismemberment of property and Bare ownership and usufruct: optimize real estate.

The 2026 dismemberment scale set by Article 669 of the General Tax Code distributes the tax value of an asset between usufruct and bare ownership based on the age of the usufructuary. The younger the usufructuary, the higher the tax value of the usufruct. Conversely, the older they are, the more bare ownership is valued. This scale applies to donations, inheritances and transfers of company shares.

Dismemberment of property consists of separating the ownership of an asset into two distinct rights:

• usufruct: the right to use the asset and collect its income (rents, dividends, interest);
• bare ownership: the right to dispose of the asset (sell it, give it, transfer it).

The reunification of these two rights reconstitutes full ownership. This séparation is widely used in wealth transfer stratégies because it allows significant reduction of gift or inheritance taxes while maintaining the enjoyment of the asset for the donor.

Usufruct, bare ownership and full ownership: the differences#

Article 669 of the General Tax Code sets the following scale, in force in 2026 without modification:

This scale applies regardless of the asset concerned: real estate, company shares, financial portfolio, SCI units. It is binding on both the tax authorities and taxpayers.

How to calculate the tax value of a dismembered asset?#

Let's take a concrete example. A property worth €300,000 is given in dismemberment. The donor, aged 65, retains the usufruct.

• Value of usufruct (61–70 age bracket): €300,000 × 40% = €120,000
• Value of bare ownership: €300,000 × 60% = €180,000

Gift taxes will be calculated only on bare ownership, i.e., €180,000, after applying available allowances.

Dismemberment offers several major advantages:

• Reduction of gift taxes: taxes are only calculated on the bare ownership fraction;
• Management flexibility: the usufructuary retains enjoyment of the asset and collects income;
• Automatic reunification at death: bare ownership joins usufruct without additional transfer taxes;
• Succession planning: the taxable value is fixed at the date of donation — future capital appreciation benefits the bare owner tax-free.

Hayot Expertise Advice: dismemberment is all the more effective when the usufructuary is older. From age 71 onwards, bare ownership is only worth 30% of the asset value, reducing the gift tax base significantly.

Several factors determine the ideal timing:

The age of the usufructuary#

The older the usufructuary, the more bare ownership is valued and gift taxes are reduced. The donation must be made during the donor's lifetime to benefit from the scale.

The value of the asset#

Taxes are calculated on the value at the date of donation. If the asset is likely to appreciate, it is advantageous to dismember early to lock in a lower tax base.

Available allowances#

Each donor benefits from renewable allowances every 15 years (€100,000 per child in direct line in 2026). Dismemberment can be combined with these allowances to maximize efficiency.

The dismemberment scale applies to all types of assets:

• Real estate: primary résidence, rental property, land;
• Company securities: shares, SARL units, SCI shares;
• Financial portfolio: equities, bonds, mutual funds;
• Corporate rights: shares in civil or commercial companies.

Each asset type has its own specificities in terms of management and taxation. Professional guidance is strongly recommended.

Dismembering company shares allows the business owner to retain income while transferring capital to the next génération.

Key points to watch:

• Voting rights: the bare owner votes on extraordinary resolutions, the usufructuary on ordinary ones;
• Sale of securities: requires the agreement of both parties; the price is distributed according to the scale;
• Dutreil pact: can be combined with dismemberment for partial exemption from inheritance and gift taxes.

Dismemberment has important limitations:

• Rigidity of usufruct: the usufructuary cannot sell without the bare owner's consent;
• Tax value vs economic value: the scale does not always reflect real market value;
• Capital gains taxation: in case of sale, the gain is distributed between usufructuary and bare owner according to the scale;
• Respective obligations: the usufructuary bears running costs, the bare owner major structural repairs (Article 605 of the Civil Code);
• Relative irrevocability: a dismembered donation is difficult to reverse once completed.

We help our clients structure dismemberment operations, calculate transfer taxes and anticipate the tax consequences at each stage.

Our firm advises on:

• the choice between dismembered donation, partition donation and conventional inheritance;
• precise calculation of gift taxes after applying all available allowances;
• combining dismemberment with other tools (Dutreil pact, life insurance policy, SCI);
• drafting legal documents and monitoring tax filings.

Structure your wealth transfer with an expert

The dismemberment scale is a powerful wealth transfer tool. Used correctly, it can significantly reduce gift and inheritance taxes while maintaining the income and enjoyment of the asset. The key to success lies in anticipation: the earlier the operation is structured, the greater the tax efficiency.

(Official sources: Article 669 of the General Tax Code, BOFiP — Gift and Inheritance Tax)