Gifting shares: a notarial deed is mandatory.
Can shares (parts sociales) be donated by a simple private deed? The French Supreme Court has answered clearly in the negative. In a ruling dated 11 February 2026, it held that shares — which do not constitute negotiable instruments — cannot be the subject of a manual gift (don manuel). Any donation must therefore be executed by notarial deed, failing which it is null and void.
Although the decision concerned SARL shares, the ruling is expected to apply to other companies issuing parts sociales, including SCIs. An important point of vigilance in family transmission transactions, where the donation of shares is a frequently used tool.
Cass. com., 11 February 2026, n° 24-18.103
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