indépendant de la personnalité

English translation: regardless of the identity of...

22:00 Jun 20, 2020
French to English translations [PRO]
Bus/Financial - Real Estate / Valuations of property
French term or phrase: indépendant de la personnalité
"REVENU NET
Il se définit comme le loyer annuel et les éventuels autres revenus générés par l'immeuble desquels on soustrait l'ensemble des frais annuels supporté par le propriétaire et découlant de la nature intrinsèque de l'immeuble, mais *indépendants de la personnalité* du propriétaire. A titre d'exemple, mais de manière non exhaustive, on peut citer, parmi les éléments à déduire : les honoraires ou frais de gestion, les assurances d'immeubles, la taxe foncière et les travaux d'entretien courant (sauf si ceux-ci sont remboursés par les locataires) ainsi que les grosses réparations."

I'm struggling to get at the meaning of this phrase in this context. This is a valuation of a commercial property and this excerpt is from a section discussing various methods/approaches to valuations - here, exactly what constitutes net rental income.

I think I get the basic gist - the only expenses that are deducted from the rental income are those DIRECTLY related to the leased property, and not to anything *specific to* the owner (which is likely to be a legal personality i.e. a company, rather than an individual). But how exactly to phrase this? I would be so glad if anybody could point me in the right direction. Thank you in advance.
Charlotte Allen
United Kingdom
Local time: 16:30
English translation:regardless of the identity of...
Explanation:
doesn't matter who the owner is...individual, corporate, whatever....

--------------------------------------------------
Note added at 22 mins (2020-06-20 22:23:28 GMT)
--------------------------------------------------

identity => i.e., legal status
Selected response from:

Timothy Rake
United States
Local time: 08:30
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4regardless of the identity of...
Timothy Rake
4 +1[costs ...] not related to the specific circumstances of the owner
Daryo
4 -1regardless of the legal personality
AllegroTrans
3 -1... separate from (the landlord), personally
Lisa Rosengard
3 -2personal status-unrelated
Adrian MM.
Summary of reference entries provided
the whole definition, including what IS "dépendants de la personnalité* du propriétaire"
Daryo

Discussion entries: 12





  

Answers


19 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -2
personal status-unrelated


Explanation:
unrelated to the personal, corporate - partnership, individual or joint marital status of the owner / freeholder, so sending the letting income into a separate French schedular category.

Example sentence(s):
  • A taxpayer's filing status is unrelated to his or her marital status.

    Reference: http://www.proz.com/kudoz/french-to-english/law-contracts/10...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 77
Notes to answerer
Asker: This is useful, as you are rightly pointing out that in English we can't just use the word 'personality' without further clarification - here, the idea of status.


Peer comments on this answer (and responses from the answerer)
neutral  SafeTex: Hello Adrian: Personal status is often used for marital status while in other countries, it is often the status of women in marriage. I'm not convinced that this is the best choice or wording in this case nor what is meant
9 hrs
  -> A logical fallacy, alas, Safetex, as a corp. may have a personal, *individual* status and give a personal guarantee: Clive M. Schmitthoff's Select Essays on International Trade Law & Int'l Handbook on Shareholders' Agreements > weblinks of both too long.

disagree  Eliza Hall: It's not about the owner's status (whatever that means). It's about costs that can vary depending on who the owner is. See discussion.
15 hrs
  -> You are, again, misreading the source text and misleading the narrative. It is not about la personne of the owner or freeholder, a term you may be unfamiliar with, but the persona.

disagree  Daryo: when you finally get hold of the "original" document relevant for this ST (instead of second /third / hand quotes) the picture is slightly different.// the ST is quoted from "CHARTE DE L'EXPERTISE EN EVALUATION IMMOBILIERE" that is what counts, no?
1 day 3 hrs
  -> The asker has the orginal doc. & proposes an 'intuitus personae' answer, plus you are also simplistically conflating the three separate ideas of personnalité - status or capacity: Bridge, la personne : *identity* and un personnage: a character.
Login to enter a peer comment (or grade)

3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
regardless of the identity of...


Explanation:
doesn't matter who the owner is...individual, corporate, whatever....

--------------------------------------------------
Note added at 22 mins (2020-06-20 22:23:28 GMT)
--------------------------------------------------

identity => i.e., legal status


Timothy Rake
United States
Local time: 08:30
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
Grading comment
Selected automatically based on peer agreement.
Notes to answerer
Asker: This has been most helpful, together with @SafeTex's comments, and the discussion above.


Peer comments on this answer (and responses from the answerer)
agree  philgoddard: This was my first thought too, but it doesn't seem to fit the context. After all, you can't deduct costs that you didn't incur. But you may be right...//Yes, I think you're probably right.
7 mins
  -> What I understand is net revenue depends on the "intrinsic nature" of the building, and not owner. I would assume that different ownership (corporate, partnerships, individuals) may have different applicable tax structures/fees

agree  Josephine Cassar: Very good explanation too
7 hrs

neutral  SafeTex: Add "legal" though. See my point in the discussion please. it's not about whether it's Joe Blogs or Joe Doe which is why I just can't go for "identity" alone
9 hrs

agree  Eliza Hall: Don't add "legal" (as SafeTex counsels). It's not the meaning here.
15 hrs

neutral  Daryo: yes, but you went the wrong way with your explanation - it's simply "who exactly is the owner" - it's not about of what type of "legal personality" is this owner or what's the owner's legal status.
1 day 2 hrs
  -> Agree, I think Eliza had best explanation

agree  GILLES MEUNIER
1 day 10 hrs
Login to enter a peer comment (or grade)

15 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
regardless of the legal personality


Explanation:
i.e. whether the owner is an individual or legal entity (company etc.)

Legal personality

To have legal personality means to be capable of having legal rights and duties within a certain legal system, such as to enter into contracts, sue, and be sued. Legal personality is a prerequisite to legal capacity, the ability of any legal person to amend rights and obligations. Legal persons are of two kinds: natural persons – people – and judicial persons – groups of people, such as corporations, which are treated by law as if they were persons. While people acquire legal personhood when they are born, judicial persons do so when they are incorporated in accordance with law.

https://www.definitions.net/definition/legal personality

AllegroTrans
United Kingdom
Local time: 16:30
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 251
1 corroborated select project
in this pair and field What is ProZ.com Project History(SM)?

Peer comments on this answer (and responses from the answerer)
disagree  Eliza Hall: It's not about whether the owner is an individual, corporation, etc. It's about costs that vary depending on the owner, as opposed to costs that exist regardless of who owns it/how any given owner wants to run the place.
8 mins
Login to enter a peer comment (or grade)

1 day 4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
[frais annuels supporté par le propriétaire - mais] indépendants de la personnalité du propriétaire.
[costs ...] not related to the specific circumstances of the owner


Explanation:

frais annuels supporté par le propriétaire et découlant de la nature intrinsèque de l'immeuble, mais *indépendants de la personnalité* du propriétaire.
=
frais annuels supporté par le propriétaire ... mais indépendants de la personnalité du propriétaire.

What costs are "indépendants de la personnalité du propriétaire." can be defined by opposition to those costs that are "dépendants" (de la personnalité du propriétaire):

catégories de dépenses qui sont variables en fonction de la personnalité du propriétaire:

-- régime d'impôt sur le revenu,
-- financement en fonds propres ou avec des emprunts de quotité et de conditions variables,
-- amortissements.

IOW

frais annuels supporté par le propriétaire ... mais indépendants de la personnalité du propriétaire.

would be costs that are purely related to the building and would not depend on the specific circumstances of the owner i.e. how much and what kind of taxes the owner has to pay, what was the source of financing for acquiring the building, how much is the mortgage repayment etc





Daryo
United Kingdom
Local time: 16:30
Works in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 74

Peer comments on this answer (and responses from the answerer)
agree  SafeTex: This makes sense and the references are very helpful. For me, it does tie in with the (legal) identity (or whatever it is called) of the owner.
4 hrs
  -> "legal indentity" is part of it, but only as far it has an influnece on the amounts of taxes to pay // the term is much wider in meaning - includes ALL and ANY "circumstances" specific to the owner. Thanks!

agree  Cyril Tollari: personal circumstances?
18 hrs

disagree  Eliza Hall: This is a good *explanation,* but that isn't the same thing as a good *translation*. If someone asked you to translate a FR legal document "into plain English," this would work, but that's not generally what we're asked to do.
1 day 12 hrs
Login to enter a peer comment (or grade)

1 day 19 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -1
... separate from (the landlord), personally


Explanation:
The information describes rent and annual costs related with domestic revenue (household income and expenses).

--------------------------------------------------
Note added at 4 days (2020-06-25 00:16:11 GMT)
--------------------------------------------------

Je comprends que le propriétaire loue l'appartement tandis que la personne qui habite le logement paie le loyer et les autres frais accumulés pendant son séjour. Pendant ce temps le propriétaire a ses propres frais, séparés des choses de la personne qui habite le logement loué, ce dont il est responsable. Néanmoins il y a quelque chose d'autre comme des assurances, les coúts des travaux d'entretient et des réparations. Le propriétaire sustrait ses propres coúts des autres coúts grands de l'immeuble. Parmi ça il ya peut-être quelque chose que serait rembursé par des locataires, et dedans cette partie-là il y a peut-être d'un désaccord sur qui doit payer au debut.
I understand it's about the living expenses which a tenant accrues annually while renting a property "les éventuels autres revenus générés par l'immeuble... découlant de la nature intrinsèque de l'immeuble" (the other expenses generated following on from the intrinsic nature of the property), as well as basic property (ground) tax "la taxe foncière". There are also "les assurances d'immeubles et les travaux d'entretient courant (sauf si ceux-ci sont remboursés par les locataires) et les grosses réparations".
I understand that those are property insurance, maintenance work expenses, excepting those which may be reimbursed by tenants, and major repairs. It seems as if there are three areas which are firstly the tenant's own living costs and expenses, secondly, property maintenance costs and building insurance as well as necessary repair work, and thirdly, the landlord (or owner)'s own personal expenses. It's possible that the second part of building maintenance, insurance and major repair work costs are the issue, and there may be a disagreement on who is liable to pay which part. Meanwhile one part may be the responsibility of either the landlord or the tenant, even if neither is liable to pay in the first place or reimburse costs later. It's possible that there may be a disagreement about who must pay for something in the first instance.

Example sentence(s):
  • It is defined as the annual rent and other possibilities of domestic revenue (household income and expenses) from which one subtracts the overall total of annual costs withstood by the owner (or landlord) ... separate from the landlord (owner) personally.
  • Il se définit comme le loyer annuel et les éventuels autres revenus générés par l'immeuble desquels on substrait l'ensemble des frais annuels supporté par le proprietaire ... indépendants de la personnalité du proprietaire.
Lisa Rosengard
United Kingdom
Local time: 16:30
Native speaker of: English
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
disagree  Eliza Hall: That makes it sound like the distinction is between the cost of running the building and the landlord's own personal expenses. That's not what this is about.
1 hr
Login to enter a peer comment (or grade)




Reference comments


1 day 3 hrs peer agreement (net): +1
Reference: the whole definition, including what IS "dépendants de la personnalité* du propriétaire"

Reference information:
catégories de dépenses qui sont variables en fonction de la personnalité du propriétaire:

-- régime d'impôt sur le revenu,

-- financement en fonds propres ou avec des emprunts de quotité et de conditions variables,

-- amortissements.



VALEUR DISCOUNTED CASH FLOW (DCF)

Selon la charte de l expertise, en évaluation immobilière 3ème édition Juin 2006, la valeur DCF se définit comme :

«Le loyer annuel et les éventuels autres revenus générés par l immeuble desquels on soustrait l ensemble des frais annuels supportés par le propriétaire, intrinsèques de l immeuble, mais indépendants de la personnalité du propriétaire. A titre d exemple, mais de manière non exhaustive, l on peut citer parmi les éléments à déduire : les honoraires ou frais de gestion, les assurances d immeubles, la taxe foncière et les travaux d entretien courant (sauf si ceux-ci sont remboursés par les locataires) ainsi que les grosses réparations. C est ce revenu triple net qui sert de base dans les actualisations de flux futurs immobiliers (cash flow immobilier)»

https://docplayer.fr/1168237-Selon-la-charte-de-l-expertise-...

This definition is repeated in several documents, but this one the "source" / the "original":

CHARTE DE L'EXPERTISE EN EVALUATION IMMOBILIERE
...
Chapitre 4 - TYPOLOGIE DES REVENUS

A - Loyer

Il s'agit du loyer annuel brut ou "loyer en principal" versé par un locataire ou un occupant à un propriétaire, en échange de l'usage d'un bien immobilier en vertu d'un titre d'occupation.

Peuvent dans certains cas être assimilées à un loyer des redevances ou indemnités annuelles en contrepartie de la concession ou de l'occupation d'un bien immobilier. Le loyer est exprimé hors droit de bail ou hors TVA et hors charges locatives refacturées au preneur.

Les loyers sont généralement indexés annuellement ou triennalement en fonction d'indices convenus entre les parties (le plus souvent l'indice INSEE du coût de la construction).

Le loyer, hors taxes et hors charges locatives, constitue le revenu brut de l'immeuble.

B - Valeur locative de marché

Elle se définit comme la contrepartie financière acceptable sur le marché pour l'usage annuel d'un bien immobilier dans le cadre d'un bail (quelle que soit sa nature) ou d'un autre titre d'occupation. Elle varie en fonction de l'offre et de la demande sur le marché locatif concerné.

Comme le loyer, elle est exprimée hors droit de bail, hors taxes (TVA) et hors charges locatives refacturées au preneur.

La valeur locative de marché correspond à la totalité du loyer de marché qui pourrait être négocié pour le bien à la date de référence : elle intègre l'incidence des sommes forfaitaires versées au locataire précédent (droit au bail) ou au propriétaire (droit d'entrée, pas de porte).

C - Revenu semi net

Il s'agit du loyer annuel diminué d'un certain nombre de frais que le propriétaire engage et qui ne sont pas, contrairement aux charges locatives, habituellement remboursés par le locataire.

Ces frais concernent généralement l'entretien courant (hors gros-euvre) du local ou de l'immeuble.

La notion de "revenu semi net" peut varier suivant les postes de charges, les usages locaux ou nationaux. Elle doit donc être utilisée avec réserves.

D - Revenu net

Il se définit comme le loyer annuel et les éventuels autres revenus générés par l'immeuble desquels on soustrait l'ensemble des frais annuels supporté par le propriétaire et découlant de la nature intrinsèque de l'immeuble, mais indépendants de la personnalité du propriétaire.

A titre d'exemple, mais de manière non exhaustive, l'on peut citer parmi les éléments à déduire : les honoraires ou frais de gestion, les assurances d'immeubles, la taxe foncière et les travaux d'entretien courant (sauf si ceux-ci sont remboursés par les locataires) ainsi que les grosses réparations.

Ce revenu net annuel constitue l'assiette à laquelle est appliqué le taux de rendement sur le revenu net (cf. chapitre 5, paragraphe E). C'est également ce revenu net qui sert de base dans les actualisations de flux futurs.


E - Cash-flow (flux de trésorerie)

Il s'entend comme le flux annuel constitué par la différence entre l'ensemble des recettes générées par un immeuble (loyers, location d'emplacements publicitaires, produits financiers des dépôts de garantie) et l'ensemble des dépenses, y compris les impôts sur le revenu, les éventuels remboursements d'emprunts, intérêts d'emprunt ou frais financiers.

Le cash-flow correspond donc au revenu net défini plus haut, duquel on soustrait en outre des catégories de dépenses qui sont variables en fonction de la personnalité du propriétaire (régime d'impôt sur le revenu, financement en fonds propres ou avec des emprunts de quotité et de conditions variables, amortissements).

Le cash-flow stricto sensu, à la différence du revenu net, constitue donc plus une donnée d'analyse qu'une base d'expertise.

http://www.expertfrance.com/chartexp.html

Daryo
United Kingdom
Works in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 74

Peer comments on this reference comment (and responses from the reference poster)
agree  Cyril Tollari
19 hrs
  -> Merci!
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search