démembrement

Legally splitting ownership of an asset into two parts: nue-propriété (‘bare ownership’) and usufruit (‘usufruct’ = right to use the asset and receive income it). The two are like distinct assets which can be owned by different people. The ‘bare owner’ is the nue-propriétaire and the owner of the usufruct is the usufruitier. It is possible for a single person to have both the nue-propriété and the usufruit; that person is said to have pleine propriété (full ownership) of the asset.