Article 1971 of the French Civil Code
November 7, 2023
The life annuity may be constituted either on the life of the person who provides the price, or on the life of a third party, who has no right to enjoy it.
The life annuity may be constituted either on the life of the person who provides the price, or on the life of a third party, who has no right to enjoy it.
It can be formed on one or more heads.
It may be constituted for the benefit of a third party, although the price is provided by another person. In the latter case, although it has the characteristics of a liberality, it is not subject to the forms required for gifts; except for the cases of reduction and nullity set out in Article 1970. When the annuity is set up by one or both spouses and is stipulated to be…
Any life annuity contract created on the life of a person who was dead on the day of the contract has no effect.
The same applies to a contract under which the annuity was created on the life of a person suffering from the illness from which he died within twenty days of the date of the contract.
The life annuity may be constituted at such rate as the contracting parties may determine.
The person in whose favour the life annuity has been constituted for a price may request the termination of the contract, if the settlor does not give him the securities stipulated for its execution.
The mere non-payment of the arrears of the annuity does not authorise the person in whose favour it is constituted to demand repayment of the capital, or to re-enter the land alienated by him: he has only the right to seize and have sold the property of his debtor and to have ordered or consented, out of the proceeds of the sale, the use of a sum sufficient for the…
The settlor cannot release himself from the payment of the annuity, by offering to repay the capital, and by renouncing the recovery of the arrears paid; he is bound to serve the annuity during the whole life of the person or persons on whose life the annuity was constituted, whatever the duration of the life of these persons, and whatever onerous the service of the annuity may have become.
The life annuity vests in the owner only in proportion to the number of days he has lived. Nevertheless, if it has been agreed that it is to be paid in advance, the term that had to be paid vests from the day on which payment had to be made.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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