Co-ownership shares (tantièmes)
Co-ownership shares (tantièmes or millièmes) are the abstract fractional interests assigned to each unit in a French condominium, expressed as fractions of the whole. They determine each co-owner's share of common charges and voting rights in general meetings, proportional to the relative value of the unit within the building.
Key points
- Millièmes are fixed in the co-ownership bylaws and can only be changed by unanimous agreement or court order.
- Multiple allocation grids may exist: general charges, elevator charges, collective heating charges.
- A two-room apartment may have more millièmes than a studio on the same floor if it has a better orientation or larger area.
- Millièmes determine the charge settlement calculation at resale (regularized at the general meeting).
- The buyer automatically co-owns the share of common areas corresponding to their millièmes.
Frequently asked questions
How do millièmes affect a condominium buyer's budget?
The more millièmes a unit holds, the higher its share of common charges. When analyzing a mortgage file, the broker must include the annual charge amount in the debt-service-to-income calculation, since charges add to the monthly loan payment. An aging building with voted works can generate significant capital calls that reduce disposable income.
Who pays condominium charges when a sale occurs mid-year?
The split between seller and buyer is governed by a clause in the notarial deed. In practice, the notary calculates a prorated amount based on the possession date. Provisions paid by the seller are reimbursed proportionally, and future capital calls (voted before the sale) are borne by whoever is the owner when they fall due.
Can you challenge your millièmes if you consider them unfair?
Yes, but the process is demanding. A co-owner may petition the civil court for a revision of the millièmes by demonstrating that they were set incorrectly or that the building's situation has materially changed. The revision then binds all co-owners. In practice, unanimous agreement at a general meeting is preferred to avoid legal costs.
In practice
A broker handles financing for a 75-sq-m condominium apartment. The co-ownership bylaws assign 120 millièmes out of 1,000 to the unit. Annual charges amount to €2,400, or €200/month. The broker includes this in the debt-service-to-income calculation, reducing the client's borrowing capacity by €15,000 compared to their initial estimate.
Official sources
- Co-ownership shares (tantièmes): what are they? · Service-Public.gouv.fr
- Sale agreement and loan condition precedent · Service-Public.gouv.fr
- Housing and financing information · ANIL