Vruchtgebruik Van de Langstlevende Echtgenoot (Usufruct of the Surviving Spouse)
University of Leuven, Faculty of Law, Department of Private Law; Harvard Law School; University of Leuven, Faculty of Psychology; Tilburg Law School Department of Private Law and TISCO; Catholic University of Portugal (UCP) - Católica Global School of Law; University of Brussels (VUB/ULB) ; Greenille (Attorneys, Notaries and Tax Advisors; Brussels, Antwerp, Amsterdam, Rotterdam)
October 5, 2007
VEREFFENING VAN DE NALATENSCHAP, pp. 37-80, W. Pintens, ed., Intersentia, 2007
Analyzing the usufruct of the surviving spouse under Belgian inheritance law, with special attention to the possibilities for conversion of usufruct into capital and arguing how such conversion should be made. The article explains that conversion methods resulting in a higher value of usufruct and nude property than the total value of full property, erroneously ignore the fact that the usufruct valued in a conversion transaction is not a usufruct in going concern, but merely a usufruct that is coming to an end.
To the extent that the judge would be of the opinion that such value of usufruct would endanger the living standard of the surviving spouse, the correct response is not to over-value the usufruct, but rather to reject the request for conversion of the usufruct and keep the usufruct into existence to the benefit of the surviving spouse.
Note: Downloadable document is in Dutch.
Number of Pages in PDF File: 23
Keywords: Inheritance law, Usufruct, Valuation, Capitalization, Conversion
JEL Classification: K11, K12Accepted Paper Series
Date posted: October 9, 2011
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