Would you like to sell your property as a life annuity or bare ownership to increase your purchasing power and benefit from a large sum of money? The experts at Thomas d’Aquin agency can help you do just that, while securing your transaction.
Bare ownership is a legal concept based on the division of property into two parts: bare ownership and usufruct. The bare owner legally owns the property, but does not have the use of it or the income from it (such as rent). These rights of use belong to the usufructuary, generally until his or her death, after which the bare owner recovers full ownership of the property. There are several advantages to selling bare ownership. It allows the seller to receive an immediate capital sum while continuing to occupy the property (or to receive income from it.) This solution can also reduce inheritance tax. It is therefore ideal for sellers wishing to prepare their estate or obtain cash while maintaining certain advantages linked to their property.
Ideal for people who want to earn money while increasing their purchasing power over the long term, life annuities are an increasingly popular form of property transaction. It allows the buyer to acquire a property at a lower cost and the seller to benefit from an initial capital sum and a life annuity for life. The initial capital, also known as the initial bouquet, represents part of the sale price of the property, negotiated between the vendor and the purchaser, which may vary according to the value of the property and the age and life expectancy of the vendor. There are two ways of selling on a life annuity, the occupied life annuity and the vacant life annuity.
Looking to sell as a life annuity while continuing to live in your old property? If so, the occupied life annuity is for you. It allows the vendor to continue to live in their old property, while receiving a tax-free capital sum at the time of sale. For the rest of his or her life, the occupied life annuity vendor will also receive a monthly annuity, while saving on the various taxes and charges associated with ownership of the property sold. They are, however, responsible for the day-to-day upkeep of the property they occupy.
Looking to sell a rented property as a life annuity? Do you want to sell your main residence before moving into a nursing home? The vacant life annuity is the right type of transaction for you. With this type of sale, you will receive a monthly income for life that is higher than the rent paid by your tenants, while benefiting from immediate financial capital. In this type of transaction, the vendor transfers the property to the purchaser without retaining the right to live in it, and vacates the property immediately on completion of the sale.
Thomas d’Aquin agency specialises in property transactions, securing the sale of your property in Paris so that it can be sold as quickly as possible and at the best price. The valuation of a property for sale as a life annuity or bare ownership requires a certain amount of expertise. For this reason, our staff receive regular training and work in partnership with a company that is an expert in this type of transaction. This guarantees a safe and secure transaction. If you would like to receive an estimate, please do not hesitate to contact us.
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