Paragraph 2: Conversion of usufruct

Any usufruct belonging to the spouse on the property of the predeceased, whether resulting from the law, a will or a gift of future property, gives rise to an option to convert it into a life annuity, at the request of one of the bare owner heirs or of the successor spouse himself.

The conversion option is not subject to renunciation. Co-heirs cannot be deprived of it by the will of the predeceased.

Failing agreement between the parties, the application for conversion is submitted to the judge. It may be introduced until the final partition. If he grants the conversion application, the judge determines the amount of the annuity, the security to be provided by the debtor co-heirs, and the type of indexation suitable for maintaining the initial equivalence of the annuity to the usufruct. However, the judge may not order, against the…

By agreement between the heirs and the spouse, the spouse’s usufruct may be converted into a lump sum.

The conversion of the usufruct is included in the partition transactions. It does not have retroactive effect, unless otherwise agreed by the parties.