Investir en démembrement avec ADNOVA

Bare-ownership explained

Full ownership of a property is made up of two rights: bare-ownership (owning the walls) and usufruct (collecting the fruits — that is, the rental income).

Buying in bare-ownership means:

• becoming the owner of the walls with a significant discount at acquisition, the level of which depends on the duration of the bare-ownership scheme;
• not receiving rental income during the bare-ownership period (it goes to the usufruct holder);
• récupérer la pleine propriété automatiquement au terme, sans frais ni fiscalité supplémentaire.

The ADNOVA difference — the developer keeps the usufruct

On its bare-ownership operations under the French Intermediate Rental Housing scheme (LLI), ADNOVA Promotion keeps the usufruct.

In practice, the developer remains involved for the entire duration: it carries responsibility for build quality, the rental operation and the management of the property.

Skin in the game. Our interest is aligned with yours: the quality of the operation is our commitment, not just our promise.

What this means for you as a bare-owner

• A discount at acquisition, determined by the duration of the scheme.
• No rental uncertainty during the scheme: you are not exposed to unpaid rent, vacancy or day-to-day maintenance.
• No taxation on rental income you do not receive.
• An IFI wealth-tax advantage on the bare-ownership value, subject to conditions and to your personal situation.
• Automatic recovery of full ownership at term, with no further steps or additional cost.

Pour qui ?

Le démembrement s’adresse en priorité aux investisseurs patrimoniaux qui :

• ont une fiscalité élevée et cherchent à se constituer du patrimoine sans alourdir leur imposition courante ;
• raisonnent à long terme (15 à 20 ans) — préparation de la retraite, transmission, diversification ;
• recherchent une opération simple, sans gestion locative.

Chaque montage est étudié au cas par cas avec votre notaire et votre conseil patrimonial.