3 bedroom villa for sale
France - Aquitaine, Lot-et-Garonne, Colayrac-St-Cirq
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- life annuity viager sale in Colayrac
- villa with land and swimming pool at only 56.000 euros
- market value 280.000 euros
please do not hesitate to contact us should you require more information on life annuity viager sales in France of which we are reputed specialists
LIFE ANNUITY REAL ESTATE SALES IN FRANCE
Viager properties are a fabulous investment for Buyers as they can be purchased at very reduced purchase prices in respect to their market values.
Selling a property in Viager is for Sellers the opportunity to keep occupation of their sold property until their death receiving from Buyers both a small purchase price (bouquet) on day of sale and a monthly payment of the life annuity (rente viagère ) after transfer of title and until the day of their death.
Old people often need complement of incomes: pensions in France may often be very low and cost of life is constantly increasing: selling in Viager is the ideal solution to financial problems of old people.
Viager properties are more frequently occupied lifelong by old sellers (viager occupé) and more rarely viager properties can be free and vacant and immediately available to Buyers on day of purchase and transfer of title (viager libre)
After transfer of title and sale to the Buyer the old Seller remains in the property until death . The old Seller may relinquish occupation at any time by formal notice to the Buyer. This however happens very rarely: should it be the case, the Seller will relinquish property occupation in favour of the Buyer/Owner and the life annuity monthly amount gets increased by 35% of the monthly rental value of the property.
When purchasing a viager property the Buyer gets full title on payment of the very reduced purchase price but cannot occupy the property until Sellers death unless Seller spontaneously relinquishes occupation.
The Buyer shall also have to pay to the Seller the life annuity monthly payment until Sellers death.
In the viager libre sales the property is immediately available for occupation to the Buyer on day of sale and transfer of title. The Buyer pays to the Seller a very reduced purchase price on day of transfer of title and becomes full owner of the property.
However the Buyer shall also have to pay after transfer of title the life annuity monthly payment to the old seller until day of Sellers death.
No mortgages are consented under french law on viager life annuity properties as the properties sold in viager remain covered by the Privilège de Vendeur which is a substitutory mortgage in favour of the Sellers guaranteeing the correct and timely payment of life annuity terms.
The Sellers may also choose to sell their property in the form of ¿nue propriété¿
In this case they will receive a purchase price on the day of sale and no life annuity payments.
They will occupy the property sold lifelong and should they relinquish the occupation before their death the Buyer shall have to pay them a monthly indemnity equal to 35% of the monthly rental value of the property.
The nue propriété sales are compatible with loans and mortgages under French law.
VIAGER life annuity contract is strictly ruled and governed by french civil code (Code Civil) under articles numbered 1968, 1969, 1970, 1971, 1972, 1973, 1974, 1975, 1976, 1977, 1978, 1979, 1980, 1981, 1982, 1983.
VIAGER life annuity contracts are regularly signed in France by all notaries who are compulsorily fluent in this french specific sale.
Both the Buyer and the Seller have strict and high guarantees under the contract on an equal and fair juridical basis so that both parties can perform their duties and enjoy the safe and smooth performance of the contract with no possible disputes or litigations arising.