This is not the form of real estate sales the most common. Figures from the Higher Council of Notaries, selling life, which provides that the purchaser pays an annuity to the seller, while the latter may continue to occupy the property it sells, even in decline for several years. According to the latest available statistics, notaries recorded 779 sales in 2009 Life in the provinces, that is to say 0.2% of transactions. Numbers declined sharply relative to those published in the 1990s: the number of lifetime would then exceed the threshold of 1500 or 0.7% of all sales. Moral restraint buyer betting somehow the death of the seller or unfortunate experiences of life such as signed by a notary with the former dean of the French … Calment French buyers have opted for more conventional transactions.
A revival
Yet in some regions, the Ile-de-France and Côte d'Azur in particular, selling life experiencing a resurgence. Some agencies specialize in the niche, and on the websites of real estate there are currently more than a hundred offers and much Paris to Nice. The quota is significantly lower in the north and east.
According to professionals, such sales may have several avantages.Pour the seller first, which can thus remain in place, pocketing most of the time part of the sale in fixed capital and the rest of the bunch as annuity. The annuity may also benefit from a tax reduction from 30% to 70% depending on the age of the seller.
For buyers the life is a way to buy a property hoping for a better price than the market.Real estate agents see it as a way to put property on the market that suffers from the shortage. Finally, selling life can be seen as a response to the problem of pensions and dependency by allowing seniors to live in their homes but are living better thanks to the additional income. These benefits would also not escape the government is currently seeking the expertise of solicitors on the record to revive the form.
Warranty too low
For if life is less common than before, also because the notaries prefer … to discourage sellers. "The purchaser is a kind of bet he can do a good deal. If in the end, it pays more than expected, it is part of the game The seller is not in this context, he wants to play and win get the right price for his property, "explains Pierre Lemée the Supreme Council of Notaries .Yet for him the procedure is not secure enough. "When selling well in life and that the purchaser, called debtor, dies, the burden of paying rent to the seller, the annuitant is transmitted to the heirs," he says. Heirs of the seller does not know and who are perhaps not creditworthy. If Débirentier can not ensure payment, the guarantee that the seller is not always sufficient. "The seller has no lien to recover its dues before other creditors. If the debtor is implementing a procedure for debt, the annuitant is featured on the list, the same rank as a banker, "says the lawyer.Especially since the termination of the contract of life can be complicated.
Another drawback of the formula put forward by Pierre Lemée: the risk to the seller to be the victim of an "arrangement between friends," the purchaser pushing the owner to sign a life with knowledge of his fragile health. A notary has thus been removed pourune similar case in La Baule, Loire-Atlantique.
Given these uncertainties, preference goes to the Pierre Lemée reverse mortgage. Founded in 2006, this formula also allows the owner of a property to obtain resources without having to sell it. The owner can get this loan from a credit institution and choose to collect the money as a lump sum or an annuity. The refund is the death of the borrower, the sale of the property, or earlier if the owner decides to leave her home.If the sale price exceeds the debt, the heirs recover the balance. Otherwise, however, the debt is not spread. The latter may also prefer to repay the loan and keep the property at the estate. A less risky.
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