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Practical Heritage Manual 2021.

10. Real rights of use and enjoyment (excluding those that, if applicable, fall on the habitual residence of the taxable person)

Regulations: Art. 20 Wealth Tax Law

This section includes real rights of use and enjoyment, except those that fall on the taxable person's habitual residence, as well as rights over real estate acquired under timeshare contracts, part-time ownership or similar formulas, when said contracts do not involve partial ownership of the property.

Your assessment will be:

  • Temporary usufruct. Its value will be estimated proportionally with respect to the total value of the asset, at a rate of 2 percent for each period of one year that remains in force of the usufruct, without exceeding 70 percent.

    Consequently, to determine the value of temporary usufructs, the percentage resulting from the following operation will be applied to the total value of the property:

    (2 x number of years remaining in force)%, with a maximum of 70%

  • Usufruct for life. Its value will be estimated starting from 70 percent of the total value of the property, when the usufructuary is less than 20 years of age, and reducing said percentage by 1 percent for each year in which said age is exceeded, up to a minimum of 10 per 100 of the total value of the asset.

    Consequently, the value of the lifetime usufructs will be the amount obtained by applying the percentage resulting from the following operation to the total value of the asset:

    (89 – age of the usufructuary as of December 31)%, with a minimum of 10% and a maximum of 70%

  • Use rights and room. The rules corresponding to the valuation of temporary or lifetime usufructs, as the case may be, will be computed by the value resulting from applying to 75 percent of the value of the assets on which such rights were imposed.

  • Rights to use real estate by turn . They will be valued at their acquisition price, whatever their nature.


Don MTS He is the holder of a life usufruct right over a property whose valuation, for Wealth Tax purposes, is 90,000 euros. The age of the usufructuary as of December 31, 2021 is 25 years. 

Determine the value of the life usufruct for the purposes of the Wealth Tax. 


  1. Determination of the applicable percentage based on the age of the usufructuary: (89 – 25) = 64 percent

  2. Lifetime usufruct value: 64% of 90,000 = 57,600 euros