Can I retain some rights associated with the assets I give away ? Can I reserve a right of reclaim ?
In the case of real estate, a gift reserving the right to usufruct for life is a simple way of organising ownership, but it is not without some complications. The donor must not forget that, even though he/she will no longer own the real estate asset, perpetual usufruct entails certain responsibilities. The usufruct can be provided for in the same document as the gift deed. A request to record the usufruct has to be submitted to the competent land registry.
The gift deed should separately contain the substantive conditions and the conditions on which the owner can claim restitution of the gift. The Civil Code provides that a real estate asset, once gifted, cannot be freely returned. It sets out the specific conditions under which it is possible to recover a gift.
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