The "Pension from Stone"

 

The real estate lifetime annuity ensures living in a familiar home and environment. It represents a special form of property sale. Property owners, usually over 70 years old, sell their property but do not have to move out. The property passes to the buyer, who in return pays the seller either a lifelong annuity, a lump sum, or a combination of both.

 

It is particularly advantageous to agree on a lifelong, land registry-secured, and notarized right of residence and use, as it eliminates the disadvantages of usufruct. The buyer's payment obligations as well as the right of residence and use should be recorded in the land registry in first rank. In a real estate lifetime annuity, the new owner is responsible for future maintenance costs, which is a significant benefit for the seller.

 

This model is particularly interesting for older people with low income and/or without heirs, who want to use up the value of their property during their lifetime but still enjoy an independent and self-determined life in their familiar surroundings.

 

 

In addition to the financial advantages offered by a real estate lifetime annuity, the long-term security aspect should not be underestimated. Knowing that all matters concerning the home are legally regulated provides many seniors with peace of mind.

 

Since a real estate annuity involves a long-term partnership with the buyer, it is important to carefully review the buyer and ensure they commit to not reselling the property for the rest of their life.

 

Interested in real estate lifetime annuities?

Please call us. We are happy to arrange a personal consultation with you.