French General Tax Code
In forceI. - Mortgage formalities for which a proportional real estate security contribution is levied shall give rise to the collection of a contribution reduced by half, subject to the provisions of Article 881 M :
1° Where they involve the low-income housing bodies specified in l'article L. 411-2 of the Construction and Housing Code and the other bodies and local authorities indicated in articles L. 432-1 to L. 432-4 and L. 472-1-1 of the same code;
2° When they relate to the construction, first transfer or allocation of low-cost housing or housing to be built by persons grouped into companies or associations who undertake in the loan deeds granted under the conditions set out in decree no. 50-899 of 2 August 1950 relating to the allocation of State-guaranteed loans for the construction of residential buildings to have their members make work contributions ;
3° For the completion of formalities relating to:
a) Fractional or deferred payment, authorised by article 1717, of capital duty, death duties and transfer duties for valuable consideration payable on acquisitions made by French nationals repatriated from overseas using reclassification loans and on those made by agricultural migrants using loans granted under the provisions of l'article D. 341-5 of the Rural and Maritime Fishing Code;
b) To the sale of assets placed in receivership or liquidation as a result of a general security measure;
c) The operations provided for by Order no. 45-610 of 10 April 1945 setting out the procedures for applying the legislation on reconstruction and by Order no. 45-2064 of 8 September 1945 authorising the direct construction of permanent residential buildings by the State or by syndicated associations for reconstruction;
d) The acts, documents and writings referred to in Article 1058 and to Article L. 211-11 of the Code de l'action sociale et des familles concerning family associations and unions of family associations.
II.-As an exception to the provisions of I, when they relate to mergers and contributions carried out by the low-income housing bodies mentioned in article L. 411-2 of the French Construction and Housing Code and by the semi-public companies for the construction and management of social housing mentioned in article L. 481-1 of the same code, mortgage formalities for which a proportional real estate security contribution is levied give rise to the levying of a contribution at the rate of 0.01% until 31 December 2021, subject to Article 881 M of this code.
