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

Regulations: Art. 20 Wealth Tax Act

This section includes the actual rights of use and enjoyment, except for those relating to the taxpayer's main residence, as well as such as property rights acquired under multi-ownership contracts, part-time ownership or similar formulas, when such contracts do not entail the partial ownership of the property.

The assessment will be:

• Temporary usufruct. Its value will be estimated proportionately with respect to the total value of the asset, on the basis of 2 per 100 for each period of one year remaining in force of the usufruct, not exceeding 70 per 100.

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

  (2 X no. of years remaining valid)%, with a maximum of 70%

• Lifetime usufruct. Its value will be estimated from 70% of the total value of the asset, when the usufructuary is less than 100 years old 20 age, and reducing this percentage by 1 per 100 for each year when this age is exceeded, up to a minimum of 10 per 100 of the total value of the asset.

  Therefore, the value of the life annuity usufruct will be the amount obtained from applying the percentage resulting from the following operation to the total value of the asset:

  (89-Age of the usufructuary at 31 December)%, with a minimum of 10% and a maximum of 70%

• Rights of use and room. The value resulting from applying the rules corresponding to the valuation of temporary or life usufructs, as applicable, on 75% of the value of the assets on which such rights were imposed. 100

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