Press on 14 Pyramides

VIR and VEFA: anticipating the legal challenges of hybrid real estate transactions

Thu, 30 Jul 2026 00:00:00 +0000

These two legal frameworks are subject to distinct rules. Their coexistence within the same project raises specific questions relating to the completion of works, payment arrangements, applicable guarantees and the coordination of contractual obligations.

The analysis of these hybrid arrangements highlights the key issues that need to be addressed from the earliest stages of a project. Clearly defining each party’s obligations and carefully coordinating the contractual framework are essential to anticipating potential difficulties and helping ensure the transaction is legally secure.

Xavier Lièvre elected First Vice-President of the Paris Chamber of Notaries

Thu, 04 Jun 2026 00:00:00 +0000

His election recognises his longstanding commitment to the profession and his contribution to the discussions shaping the future of the notarial profession.

Believing that the profession progresses through collective commitment, Xavier Lièvre has been actively involved in professional bodies for several years. In 2012, he contributed to a report on digital technology as part of the French Notaries’ Liaison Assembly. He subsequently served as Vice-President of the Conseil supérieur du notariat, the French High Council of Notaries, from 2020 to 2022, and chaired the second commission of the 119th French Notaries Congress, dedicated to housing.

Toward a Reform of Leases That Create Real Rights

Fri, 08 Nov 2024 00:00:00 +0000

In an op-ed published by the Revue de Droit Immobilier de Lefebvre Dalloz, our partner Xavier LIEVRE responds to the Congress’s proposal to adapt the long-term lease so that it addresses current environmental concerns by allowing the lessor to impose conditions that facilitate the implementation of environmental compensation measures.

Xavier points out that leases creating real property rights are often ill-suited to renovation projects, citing the examples of construction leases and rehabilitation leases, and argues that the shift from a “construction-based” urban planning approach to a “transformation-based” one—as advocated by the Congress—should serve as an opportunity to reform leases creating real property rights to adapt them to this challenge.

Solidarity-based tenancy for housing and work: a decree is expected to be published

Fri, 06 Sep 2024 00:00:00 +0000

Xavier Lièvre points out that this criterion could exclude certain owners of adapted properties whilst allowing access to the BRS for those with substantial financial assets but low incomes. He also highlights the practical difficulties posed by this decree, which relies on sworn statements without any real means of verification.

For further information, see the article in *La Semaine Juridique Notariale et Immobilière* No. 34 – 30 August 2024

Introduction of Article 774 bis into the General Tax Code: an analysis of its scope and implications for tax settlements

Tue, 30 Apr 2024 00:00:00 +0000

Does the transaction that led to the establishment of the quasi-usufruct fall within the scope of Article 774 bis of the General Tax Code (CGI)?
How should the restitution liability falling within the scope of Article 774 bis be treated during the tax settlement of the estate?
What should be done if the restitution liability exceeds the gross estate assets?
What steps should be taken to terminate an existing quasi-usufruct that has become problematic?

Read the detailed analysis by Pierre-Alain Guilbert and Victoire Minne in the *Revue fiscale du patrimoine*, No. 4, April 2024.

The Pinel pre-emption scheme: a case for excluding offices and warehouses

Thu, 21 Sep 2023 00:00:00 +0000

The waiver of the right of first refusal under Article L. 145-46-1 of the Commercial Code, known as the ‘Pinel’ provision, is a regular source of difficulties for practitioners. Indeed, since the entry into force on 18 December 2014 of Article 14 of Law No. 2014-626 of 18 June 2014 – known as the Pinel Act – the right of pre-emption available to the tenant in the event of the sale of premises used for commercial or craft purposes has given rise to differences of opinion amongst legal scholars and uncertainties linked to certain court rulings regarding its scope of application, even though the legislature’s intention was initially very clear: ‘to promote the continued existence of very small commercial and craft businesses in town centre areas subject to property market pressures’.

Alternatives in property investment

Tue, 12 Sep 2023 00:00:00 +0000

Everyone will have noticed the media furore surrounding housing in recent months. The team organising the 119th Congress of French Notaries (which, as a reminder, will take place in Deauville from 27 to 29 September) has been working on this issue for two years now.

Building on this analysis, the 2nd committee (‘Promoting Access to Housing’) is now presenting a paper highlighting that certain traditional methods of property acquisition can be re-examined to facilitate home ownership. Faced with growing difficulties in purchasing a home, some investors are proposing to share the burden of this purchase:

The Court of Cassation clarifies the nature of early repayments in jointly owned property

Tue, 29 Aug 2023 00:00:00 +0000

[Property] In a ruling dated 5 July 2023 (appeal no. 23-70.007), the Court of Cassation held that ‘the early repayment of a loan used to acquire jointly owned property, where made by a co-owner using their own funds whilst the property remains jointly owned, constitutes an expenditure necessary for the preservation of that property within the meaning of Article 815-13, paragraph 1, of the Civil Code’.

The judges of the judicial order state unequivocally in this decision that the early repayment of a joint loan amounts to a maintenance expense giving rise to a claim against the joint ownership, and not an acquisition expense giving rise to a claim between co-owners.

Why hold the property through a company?

Sat, 17 Jun 2023 00:00:00 +0000

Property management, transfer of ownership or even joint purchase arrangements… What are the benefits of owning a property through a company?

Read the detailed analysis by Xavier Lièvre, Yann Judeau and Paul Bernard in JCP No. 25 of 23 June 2023.

Read the article

White Paper – The 3DS Act and Notarial Practice

Fri, 17 Jun 2022 00:00:00 +0000

This new white paper is now available to download free of charge from Editions Francis Lefebvre Notaires.

Download

BRS and the 3DS Act: welcome simplifications and clarifications

Mon, 28 Mar 2022 00:00:00 +0000

At the heart of these numerous articles, the new law has simplified and clarified certain provisions of the solidarity-based property lease (BRS) in order to facilitate its implementation, namely:

The restructuring of the operator’s BRS contract into a single initial BRS contract and the provision of a new contract template for notaries,
Solidarity-based land operators (OFS) may carry out work on land or properties they own with a view to creating housing,
The expansion of the OFS’s remit to include mixed-use development,
The possible delegation of the urban right of pre-emption to OFSs,
The extension of the Bank des Territoires’ GAIA loan guarantee,
The treatment of a BRS granted by an OFS-accredited social housing organisation as equivalent to a social housing sale, and exemption from capital gains tax,
The continuation and adaptation of the so-called ‘SRU’ scheme for social housing quotas in local authorities.

These specific provisions of the 3DS Act came into force on 23 February.

An overview of the 3DS Act and its implications for notaries

Mon, 28 Mar 2022 00:00:00 +0000

The legislator has chosen to structure the bill around four key areas:

territorial differentiation;
decentralisation;
deconcentration;
and the simplification of local public administration.

Far from the objectives initially envisaged, this extensive piece of legislation, comprising more than 270 articles, affects numerous procedures relating to the territorial organisation of local authorities without, however, overhauling it.

With the exception of measures subject to the publication of an implementing decree, the provisions of the 3DS Act came into force on 23 February.

The new hybrid scheme for third-party mortgages

Fri, 11 Feb 2022 00:00:00 +0000

[Reform of the law on security interests] The Order of 15 September 2021 reforming the law on security interests formalises the ruling previously handed down by the Court of Cassation (Mixed Chamber, 2 December 2005, No. 03-18.210), according to which a security interest granted to secure a third party’s debt does not constitute a suretyship. Consequently, this security is now covered by Article 2325 of the Civil Code within a chapter devoted to security interests in rem, as opposed to personal security interests and, in particular, suretyship.

The new civil assignment of a claim by way of security

Tue, 25 Jan 2022 00:00:00 +0000

The reform thus puts an end to established case law of the Court of Cassation, which prohibited the assignment of a claim as security ‘except in the cases provided for by law’ and traditionally reclassified this legal transaction as a pledge of a claim. Such an assignment could previously only be carried out by professionals in the form of a ‘Dailly assignment’ (Court of Cassation, Commercial Division, 26 May 2010, No. 09-13.388).

“Closure of ICPE facilities and decontamination: stricter obligations for manufacturers”

Mon, 15 Nov 2021 00:00:00 +0000

From now on, upon cessation of operations, the operator of an ICPE must obtain certification from a company certified in the field of contaminated sites and soils:

that measures have been implemented to secure the site, for ICPEs subject to declaration as exhaustively listed in the new Article R. 512-66-3 of the Environment Code

that the proposed measures for the site’s remediation are adequate
that the works comply with the prescribed remediation objectives

Furthermore, the decree establishes a deferred remediation procedure upon the operator’s express and justified request and strictly regulates the timeframes for the procedure, including for responses from the authorities.

From the lender’s privilege to the statutory mortgage of the lender

Thu, 21 Oct 2021 00:00:00 +0000

The aim of the legislature is to strengthen legal certainty and enhance the economic attractiveness of French law by putting an end to the retroactive effect of the registration of a charge on immovable property.

From now on, the statutory mortgage of a lender will take effect from the date of its registration with the Land Registry, rather than retroactively from the date the deed of sale was signed.

Liens already registered will continue to benefit from the retroactive effect provided for under the previous law, as will those arising before the entry into force of the Order, provided they were registered within the two-month period from the date of the sale, as previously required.

The Order reforming the law on security interests has been published

Thu, 16 Sep 2021 00:00:00 +0000

Through this legislation, the Government sought to introduce a reform that would both enhance the effectiveness of security interests and improve the attractiveness of French law, whilst ensuring greater legal certainty in contracts.

The reform will mainly come into force on 1 January 2022. Only the provisions relating to pledges and the new register of security interests in movable property, which require implementing regulations, will come into force by 1 January 2023 at the latest.

International succession: new compulsory levy

Thu, 09 Sep 2021 00:00:00 +0000

In order to benefit from this compulsory deduction, the new paragraph 3 of Article 913 of the Civil Code specifies that the aggrieved child, or their heirs or successors, must satisfy the following two cumulative conditions:

the deceased, or at least one of their children, must, at the time of death, be a national of an EU Member State or habitually resident there; and
the foreign law applicable to the succession must not provide for any protective mechanism ensuring a reserved share for children.

Upon the opening of the succession, the notary will be required to inform each heir individually of their right to request the reduction of gifts that exceed the disposable portion. In practice, this will mainly apply to successions in common law countries which do not recognise the concept of a reserved share.

Publication of the Climate and Resilience Act

Tue, 07 Sep 2021 00:00:00 +0000

The firm 14 Pyramides Notaires offers you an initial overview of these new measures and will examine the specific provisions of this legislation and their practical implications.

Read the full article

Notaries facing the challenge of urban and rural change

Mon, 19 Jul 2021 00:00:00 +0000

It is therefore essential today for the notarial profession to turn its attention to new legal mechanisms in order to establish an economic model capable of sustainably allocating urban and peri-urban land to agricultural production, with a view to rationalisation.

Read Xavier LIEVRE’s analysis in an interview entitled ‘Notaries facing the challenge of urban and rural change’ (interview by Chloé Rossignol), published in the JDD on 17 July 2021.

Awarded the ‘Notary for Public Bodies’ (NCPP) accreditation

Thu, 08 Jul 2021 00:00:00 +0000

This accreditation follows a training programme and an examination, culminating in a business project that demonstrates a commitment to delivering a high-quality service in public law.

The Land and Public Law Practice Group, which holds this accreditation, will continue to support public bodies in the development of their complex legal projects.

This NCPP accreditation complements the one obtained in 2020 for our recognised expertise in environmental law, and reinforces our commitment to providing the land operators we support with in-depth expertise that combines a high level of technical knowledge with legal certainty.

Solidarity-based tenancy agreement – BRS

Mon, 28 Jun 2021 00:00:00 +0000

The solution devised involves economically separating ownership as follows: a Solidarity-Based Land Organisation (OFS) becomes the owner of a property (whether existing, to be renovated or to be built), on which it will create a special ‘real’ right under the terms of a BRS, conferring ownership of the property on the grantee at a discounted price. Access to the BRS is means-tested and subject to approval by the OFS, and the ownership obtained is perpetual as the initial term (generally around 80 years) is reset upon each sale or transfer.

Financing by a spouse of the purchase of jointly owned property in excess of their share: a reversal of case law

Thu, 17 Jun 2021 00:00:00 +0000

In a recent judgement, the Court of Cassation has reversed its previous case-law regarding a spouse’s financing of the purchase of jointly owned property in excess of their share. From now on, compensation payable to the joint owners will be assessed in accordance with the provisions of Article 1543 of the Civil Code.

In this case, the spouses, who were married under the regime of separate property, had acquired a property. The spouse who predeceased the other had financed the property using his own funds. During the division of the estate, the heirs demanded that a claim against the surviving spouse be registered against the estate.