With the future looks more than black when we talk about our retirements, and with the ridiculous increases of the same in the last years, it is necessary to look for and to obtain complementary income in the retirement, and this that I comment to them today, every time is more normal, it is about the inverse mortgage or the sale of La nuda propiedad, that are presented as a way to take advantage of the housing without resigning to remain and to enjoy it in a lifelong way. Although, for now, with little arrival, as it is something new and with little travel.
Therefore, snacks are already organized as a claim in exchange for information on these products and in fact, one of the main issues that these meetings deal with is the SALE OF LA NUDA PROPIEDAD, which is to sell the home but on the condition that you can continue to live in it or rent it until the day of death.
This is what in some financial institutions is also known as a housing-boarding product or what is colloquially called ‘bug houses’.
Why live off your pension if you own an apartment? This is a procedure that allows a person, usually of advanced age, to sell their property to a third party without having to leave their home. This way, everyone wins. The seller keeps the usufruct of the house for life, increasing his income and improving his quality of life and the buyer acquires the naked property, as an investment, to dispose of it at the end of the usufruct.
The sale of the naked property is ideal for those people over 65 years old and without heirs, or who want to enjoy their home for life without any kind of economic concern. In addition, the money of the sale is received in the instant of the cession of the knotted property and of a single time, allowing the usufructuary to enjoy his property and to receive this immediate economic compensation.
This operation increased by 300% last year in Spain, while it is a common practice in other European countries. This type of solution has existed for many years in the form of private contracts between individuals in countries such as France, Portugal and Poland. This type of agreement between individuals has also occurred in Spain, albeit in a punctual and non-systematic manner.
Naturally, the value of the sale with the reservation of the right of usufruct will be lower than that of the sale of the full property. The difference will be inversely proportional to the age of usufructuary: the longer the life expectancy, the higher the value of the usufruct and therefore the lower the amount received from the sale. In exchange for being able to continue to live in it and only take on the cost of supplies, the seller sells his home at a price between 20% and 50% below the market price, so that the buyer is made with a cheaper home than the average sector.
WHAT IS IT?
1. The full domain: nuda propiedad + life usufruct
When a person acquires property, he or she obtains what is known as full dominion. The full domain is divided between the naked property and the life usufruct. In this case we would be talking about selling only the knotted property, so that the person would continue to dispose as long as he or she lived from the usufruct of the house.
2. La nuda propiedad does not provide immediate possession of the same
La nuda propiedad is the right that a person has over a thing. In this case we are talking about a house, being its owner from the moment of purchase. However, acquiring the naked property does not give you possession of it, since the usufruct belongs to someone else.
With this option another person will be able to use and enjoy the property until this usufruct ends, being possible to establish a fixed term or determining a life usufruct, that is, until the death of the usufructuary.
3. The owner knot will enjoy the dwelling when the usufruct ends.
Even if the knot owner owns the house, he will not be able to enjoy it until the end of the usufruct. Once the time has come, you have every right to dispose of the property in good condition.
4. You can continue to use the property and receive the money from the sale instantly.
One advantage of this right is that you can continue to use your home forever. A legally guaranteed security with the maximum guarantees, registered correctly and with a deed before a notary. In addition, the money of the sale is received in the instant of the transfer of the knotted property and of a single time, allowing the usufructuary to enjoy his property and to receive this economic compensation.
If the usufructuary does not wish to continue living in his house, he will be able to rent the house and obtain that income in full. However, the lease expires upon the death of the usufructuary. Even the usufructuary can sell the usufruct to a third party and earn another income.
5. Shared costs thanks to naked ownership
With this sale, the expenses will also be lower for the seller, since he would pay only those corresponding to the ordinary consumption of the dwelling (water, electricity, gas), while the investor would take care of the IBI and the extraordinary spills of the dwelling from that moment.