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Article R214-157 of the French Monetary and Financial Code

November 6, 2023

Expansion or reconstruction work and sales of property assets by non-trading property investment companies must comply with the following conditions: 1° In the case of extensions : The cost, including all taxes, of expansion work on a built property, carried out during a twelve-month financial year, must not exceed 15% of the market value of the property assets of the non-trading property investment company as shown in the balance sheet…

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Article R214-157-1 of the French Monetary and Financial Code

November 6, 2023

The realisable value and reconstitution value of the société civile de placement immobilier are determined each year by the management company. The market value of the buildings and property rights held directly or indirectly by the non-trading property investment company and by the companies referred to in 2° of I of article L. 214-36 is assessed by an external valuer. Each property is appraised every five years. The market value…

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Article R214-158 of the French Monetary and Financial Code

November 6, 2023

Companies may only merge if the majority of their assets are made up of properties used primarily for residential purposes or primarily for commercial purposes. To determine whether a property is used for residential or commercial purposes, the market value of the buildings in the portfolio is taken into account.

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Article R214-159 of the French Monetary and Financial Code

November 6, 2023

The draft terms of merger are drawn up by the management company of each of the companies involved in the transaction. It shall contain the following information 1° An inventory of the property assets, names and registered offices of all the participating companies; 2° The reasons, aims and conditions of the merger; 3° The dates on which the accounts of the companies involved were closed in order to establish the…

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Article R214-160 of the French Monetary and Financial Code

November 6, 2023

A société civile de placement immobilier may transfer its assets and liabilities by means of the demerger referred to in the first paragraph of article L. 214-118 to several undertakings for collective real estate investment or professional undertakings for collective real estate investment in the form of a real estate investment fund, a professional real estate investment fund, a société de placement à prépondérance immobilière à capital variable or a…

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Article R214-162 of the French Monetary and Financial Code

November 6, 2023

I. – At least 60% of the assets of the forestry savings companies referred to in Article R. 214-161 shall consist of forestry assets comprising : 1° Forests and woods ; 2° Bare land to be afforested; 3° Accessories and outbuildings that are inseparable from the woods and forests, such as : a) Buildings, in particular forest houses ; b) Infrastructures linked to the management of woods and forests; c)…

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Article R214-163 of the French Monetary and Financial Code

November 6, 2023

Exchanges and sales of woodlands and forests, interest shares in forestry groupings or shares in companies whose sole purpose is to hold woodlands and forests by forest savings companies must comply with the following conditions: 1° For exchange transactions, the forest savings company has owned the forest or company share transferred for at least three years at the date of the exchange. This condition is not required for the exchange…

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Article R214-164 of the French Monetary and Financial Code

November 6, 2023

Exchanges, disposals or the creation of rights in rem relating to the forest assets of forest savings companies are subject to authorisation by the ordinary general meeting of shareholders. However, the following transactions, provided that they concern an area of less than 1% of the woods and forests held by the forest savings company, up to a limit of 10 hectares, are subject to simple notification to the general meeting…

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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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French Business Lawyers

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Linkedin

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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