Recent judgment of the Supreme Court (STS 659/2016 of February 25, 2016) gives validity to the social agreements approved on the basis of parasocial agreements that had previously been signed by all the partners, by which in the act of sale of some shares the full right was transmitted in a part of them, while in the rest the bare property was transmitted exclusively maintaining the transferor the life usufruct of the shares, as well as the right to vote corresponding to them.

el-hombre--camisas--serio--reunion-de-negocios_3213670The specific case deals with two limited companies in which in both the partners are the father and two children, and at a given time, they agree to transfer all the shares of the father to the two children by ceding to each of them a part of the shares in full ownership, while the rest of the shares is transferred only the bare property, the father maintaining the usufruct of these, reserving for him the right to vote.