By Charlotte GAUCHON
15 June 2025
The dismemberment of ownership is a widely used asset management and transfer tool, particularly for company directors to organise the succession of their shares. This technique, which consists of separating usufruct (the right to enjoy the property and receive income from it) from bare ownership (the right to dispose of the property), raises complex questions about the division of powers within the company. Who has the right to vote at general meetings? Who receives the dividends? These questions are far from theoretical, and if they are not anticipated correctly, they can lead to blockages and conflicts that are detrimental to both the family and the business. The aim of this article is to clarify the division of rights and powers between usufructuaries and bare owners of shares, based on legal texts and case law interpretations. For an overview of this topic, please consult our...
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