At just 8 years old, child becomes owner of an apartment valued at 230,000 euros
While a first purchase of real estate is generally made in someone's thirties, in some cases, the investment occurs much earlier...
At an age when interests are more focused on games, friends and the tooth fairy under the pillow, a little 8-year-old boy has become a homeowner. Will his apartment, worth 230,000 euros, now occupy all his thoughts?
Two years ago, this very young man inherited an apartment, his mother having donated it to him. Yes, it's not necessary to reach a legal age to be able to benefit from this type of inheritance! The French daily Le Figaro was able to speak with the spokesperson for the Paris Chamber of Notaries, Nathalie Couzigou-Suhas; the latter having dealt with this rather unprecedented case in 2022. She explains that the main idea behind this donation "was to secure her son's future while alleviating the financial and tax constraints that could weigh on the future succession".
As Le Figaro indicates, the inheritance enjoyed by the 8-year-old boy is located in Vitry-sur-Seine (in the Val-de-Marne department in France). With a surface area of 50m2, the apartment, which is a rental investment, was passed on to the young boy by his mother, who wanted to give her child a real estate asset "while optimizing inheritance tax", underlines Demotivateur.
The early donation allows the mother to "retain the usufruct of the property", while continuing to receive rental income and transferring the bare ownership to her child. It's a legal mechanism called "dismemberment of property" in France which made this maneuver possible.
(MH with AsD - Source: Demotivateur - Illustration: Unsplash)