Annuity – A Pension For Life
What is an Annuity
Annuities are contracts that provide a fixed income stream for a person’s lifetime or a specified period of time.
The Real Estate Life Annuity is a contract, formalised in a Public Deed before a Notary, whereby the Elderly receive a monthly income for the rest of their lives, in exchange for the sale of the bare ownership of their home, but maintaining at all times the right of use and enjoyment.
Classic Life Annuity – A Pension for Life
The current homeowner(s) sells the bare ownership of the property for a percentage* of the market value in exchange for receiving a sum of money each month to boost monthly income and retains the “usufruct”, the right to continue to live in the home amongst their friends, in the community they have fallen in love with.
Classic Temporary Rent
The current owner sells the bare ownership and maintains the usufruct of the home for life; however, the collection of the monthly rents will be made within a previously determined period of time.
Life Annuity Outside of the Home
The homeowner renounces the right to use the home, but in exchange receives a higher monthly payment than the classic life annuity.
This option is designed for clients who are unable to stay living in their homes, for example need residential care.
* The percentage offered to you will be based upon several determining factors. Primarily, your age(s), the type of property you own and its location and the product you are choosing
General Disclaimer: The results are not guaranteed and they may vary from person to person.