Make a donation in full ownership to the Procure missionnaire de l’Assomption

Freehold gifts: advantages, procedures and tax optimization

A gift of full ownership is the simplest and most immediate way of passing on your assets. It enables you to give an asset (money, property, furniture) to a beneficiary during your lifetime, who becomes the owner as soon as the deed is signed. According to French notaries, more than 50% of all gifts are outright, because of their simplicity and tax advantages. Find out how full ownership gifts to the Missionary Procure of the Assumption work, what their advantages and limitations are, and how to optimize them for tax purposes.

Understanding a gift of full ownership

A donation in full ownership is a legal act by which you can immediately and definitively transfer ownership of an asset (furniture, real estate, sum of money) to a donee (an individual or a legal entity, such as the Procure missionnaire de l’Assomption), who accepts it. Unlike a bare ownership gift, the donee becomes the sole owner of the property as soon as the deed is signed.

What are the differences with other types of donation?

For example:

• Donation of a sum of money: “I give €50,000 to the Procure missionnaire de l’Assomption”.
• Donation of real estate: “I’m giving my apartment at 15 rue de la Paix, 75001 Paris, to my son.”
• Donation of a stock portfolio: “I’m giving my 100 shares in company X to my niece.

2. Why choose to make a donation in full ownership?

Opt for immediate and definitive transmission

• The donee becomes the owner as soon as the deed is signed.
• No subsequent management (unlike bare ownership or usufruct).

Example: If you give an apartment to your child, he or she can sell it, rent it or live in it immediately.

Benefit from tax advantages

• Get a reduction in income tax

Donations to associations recognized as being in the public interest and having the exclusive aim of providing assistance and charity (such as the Procure missionnaire de l’Assomption) are eligible for a 66% tax reduction, up to a limit of 20% of taxable income. A donation of €1,000 entitles you to a tax reduction of €660. A donation of €10,000 entitles you to a tax reduction of €6,600 (if your taxable income is equal to or greater than €33,000).

• Take advantage of family allowances

Gifts between parents and children benefit from an allowance of €100,000 per parent and per child, renewable every 15 years. A parent can give €100,000 to his or her child free of gift tax.

• Immediate support for the Assumption Mission Procure

Unlike a bequest, a gift of full ownership allows you to support La Procure missionnaire de l’Assomption during your lifetime and to know the impact of your gesture.

Testimonial: “By donating to the Assumption Missionary Procure, I was able to finance the training of a young religious in the Philippines. It’s a great satisfaction to contribute to a concrete project.” – Marie, donor

3. How can I make a donation in full ownership to La Procure missionnaire de l’Assomption?

Define your donation project

• Choose the asset to be donated (money, real estate, furniture).
• Verify the legal capacity of the donee (e.g.: la Procure missionnaire de l’Assomption).
• Draw up the deed of gift (compulsory for real estate, recommended for large gifts).
• Declare the donation to the tax authorities to benefit from the tax reduction.

Make sure your deed of gift is properly drafted

• To give a sum of money

Sample deed: “I, the undersigned, [Surname and First Name], born on [date] at [place], residing at [address], hereby give to La Procure missionnaire de l’Assomption, represented by [Name of representative], the sum of [amount in words and figures], as an irrevocable donation. Done at [place], on [date]. [Signature].”

• To donate a property

In the case of a gift of real estate, a notarial deed is obligatory.Notary fees represent approximately 2% to 3% of the value of the property (depending on its value).

Example clause: “I give my son [Name], born on [date], my apartment located at [full address], valued at [amount].”

4. Precautions to take when making a donation

Don’t overlook the inheritance reserve

You cannot give a property that deprives a reserved heir (child, spouse) of his or her legal share. Start by consulting your notary to calculate the available share.
If you have 2 children, you can only give 33% of your estate to a third party (the rest is reserved for your children).

Don’t forget to declare your donation

You must always declare a manual donation or a notarized gift to benefit from the tax reduction.

Don’t choose an ineligible donor

You cannot donate to an association that is not recognized as being of public utility or declared to be of general interest, and that pursues an exclusive goal of assistance and charity. Check that the association is eligible (such as the Procure missionnaire de l’Assomption).

5. Questions and answers about full ownership gifts