Chapter IV: Collective investments.

The properties referred to in 1° of I of article L. 214-36 eligible for inclusion in the assets of an undertaking for collective real estate investment are : 1° Buildings let or offered for letting on the date of their acquisition by the undertaking or by any legal entity that has entered into a usufruct agreement in accordance with Chapter III of Title V of Book II of the French…

The rights in rem referred to in a of I of Article L. 214-92 are : 1° Ownership, bare ownership and usufruct ; 2° emphyteusis ; 3° easements; 4° The rights of the lessee under a construction lease or a rehabilitation lease; 5° Any real right conferred by a title or by an emphyteutic lease in respect of the occupation of an area of the public domain of the State,…

Direct or indirect holdings in the companies referred to in 2° and 3° of I of article L. 214-36 are only eligible for inclusion in the assets of an undertaking for collective real estate investment if the following three conditions are met: 1° These companies draw up annual accounts and interim accounts at least every six months; 2° The properties and real rights held by these companies meet the conditions…

I. – Direct or indirect holdings in foreign undertakings referred to in 5° of the I of article L. 214-36 are only eligible for inclusion in the assets of an undertaking for collective real estate investment if these undertakings draw up annual accounts and interim accounts at least every six months. II. – Direct or indirect holdings held by a real estate investment trust in real estate investment trusts, professional…

Notwithstanding article R. 214-83, the assets of a real estate investment company with variable capital may also include direct or indirect holdings in companies mentioned in 2° and 3° of the I of article L. 214-36 which do not meet the conditions set out in 2° and 3° of article R. 214-83, up to a limit of 20% of the real estate assets mentioned in 1° to 3° and 5°…