Real Estate Patrimony

This aspect confronts with data in favor of the majors of 65 years; and it is that 82% of them are proprietor of their house. To turn our house into a source of income is easy task if the different possibilities are known that the market offers. Life rent on a building Is the most novel formula and the one than majors advantages it can contribute to the People Majors. The Life Rent, strongly ingrained in countries like Germany, France or the United Kingdom, is a contract by means of which a Greater Person receives a monthly rent during the rest of her life, in exchange for the cession of her house, but maintaining at any moment the use right and enjoys the same. It is the ideal solution for those People who wish to live as well as possible with their own economic means through a suitable management of their real estate patrimony and, all this, without losing the reference that supposes to continue living in its house. In addition, the Life Rent also can be the best form to finance the stay in a Residence or Center of Majors, since, if they wish therefore it, People Majors can resign, from the beginning of the operation or passed a certain time, to the usufruct right on his house, which repels in a considerable increase of the Rent to perceive monthly, allowing him to pay for the payment of the Residence that chooses and with the tranquillity that the knowledge provides that these monthly income are guaranteed of by life. It mortgages Inverse Inverse Hipoteca is a banking credit directed to the propietary People Majors of a building.

It works the other way around that the hypothecating loan by which a house is bought on credit. In the case of the inverse mortgage the proprietor of the building receives a monthly rent that would be equivalent to the sum obtained after the sale of the building. Contracting an inverse mortgage, the Greater Person, a monthly pension can make profitable its house receiving and being able to maintain the use right and enjoys its house. Nevertheless it has an excellent disadvantage; it is an operation without life cover. If the Greater Person survives to the period of hiring of the mortgage and the operation, therefore, finalizes, the Greater Person does not have guaranteed the collection of the rents.

Before such risk, the hiring is advisable of certainly guarantees a life cover. Of such form and in this case, the insurance agency would pay the monthly rents to the proprietor until its death. The monthly rents depend on two factors, on the one hand, of the value by which the house is appraised and, on the other, of the age of the holder, who will have of being of 65 years like minimum. An amount for the monthly payments that the beneficiary will perceive, of that settles down reduce the expenses of the management. Once finalized the credit or after the death of the borrower, the heirs will do against the payment of the loan or the organization will come on sale from the building to satisfy the debt and to give to the heirs the remaining money of the sale, there will be if it.

Comments are closed.