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Usufruct valuation · LISD art. 26

Calculate the value of a life or fixed-term usufruct and the corresponding bare ownership. Used for inheritance distributions, donations, and family-home arrangements.

Calculate usufructSee pricing
  • · LISD art. 26 + RD 1629/1991 art. 49
  • · Universal Spanish rule · all CCAAs
  • · Free for an estate planning conversation

The value declared in the deed, or the reference value. E.g. 250,000.00

Type of usufruct
Usufruct17 %

42.500,00 €

Bare ownership83 %

207.500,00 €

Rule applied: life usufruct (art. 26.a LISD)

Consolidation of ownership: when the usufruct ends, the bare owner pays tax on the percentage left unsettled at the time, at the average effective rate of back then. It is the tax that turns up years later and almost nobody expects.

Indicative calculation under art. 26.a of Ley 29/1987 and art. 10.5.a of the consolidated ITPAJD Act. Regional reductions and bonifications are applied afterwards and are not in this figure.

Pricing

Usufruct calculation + advisory

Valuation + tax-impact memo

€89+ VAT / valuation

  • · Life or fixed-term valuation
  • · Bare ownership figure for the corresponding heir
  • · Tax-impact memo for ISD form 650
  • · Optional notary coordination
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Usufruct FAQ

What is a usufruct?

The right to use and earn from an asset (a flat, a portfolio, a savings account) without owning it. The owner without use is the bare owner (nudo propietario). Usufruct + bare ownership = full ownership.

How is the life-usufruct value calculated?

(89 − usufructuary's age) %, with a 10 % floor and 70 % ceiling per LISD art. 26. So a 50-year-old has a 39 % usufruct; a 19-year-old (or younger) has the 70 % maximum; an 80-year-old (or older) has the 10 % minimum.

Difference between usufruct and bare ownership?

Usufruct = use + income · bare ownership = title without use. Both are valued separately for ISD/IRPF and they consolidate when the usufruct ends (death or term expiry) — the bare owner inherits the usufruct value tax-free.

Who pays the taxes: usufructuary or bare owner?

On constitution: each pays ISD on their respective value. On annual income: the usufructuary (rent, dividends). On the property tax (IBI): typically the usufructuary. On the eventual sale: both consent + share the gain proportionally.

Can I sell the usufruct?

Yes — unless the deed prohibits it. The sale price is the usufruct value at the time, and the buyer assumes the same rights and duties for the remaining term.

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