What exactly is the real estate rift?
At the property rents sold during lifetime, the owner or the owner of the house to an institutional investor or private investor against the payment of a pension.
The highlight is: The owner (s) do not have to pack the bags and leave the familiar living environment. Linked to the sale is the entry of a lifelong living right. The house can therefore continue to be used.
How does this work?
For the transfer of ownership, the new owner pays a pension to the seller (s). The pension is based on the value of the house. The fair value is the estimated selling price for the property.
But this price is not discounted as a pensionable value! The value of the property must still be deducted from the value of the property.
Advantages and disadvantages
So nice the further use by the previous owner for this is so ugly is the same use for the new owner! This is excluded until the death of the use! And this exclusion de facto reduces its return on the object.
The value of the right of residence to be deducted depends on the age of the previous owners at the time of the real estate transfer.
Depending on the age
That, too, makes sense. The younger the previous owners are in the sale, the longer the new owner is excluded from use.
The property rents can, however, also be paid by means of a so-called linked ransom. In this case, the pension is paid until the last of two owners has died. The right of residence also runs until the death of the second person.
Get money and stay owner?
Get money and still be the owner? This works with the so-called reverse mortgage. In this case, the owner receives an amount once. This amount is paid as a loan.
Thus, no property relationships change. The property serves as security. The disbursed loan and the accrued interest are collected. If the owner now dies, the loan is due and is repaid from the sale of the property.
An excess amount is due to the heirs. Should the house remain in family ownership? This is also possible. In this case, the loan must be repaid from other sources. The amount of the loan also depends on the value of the house and is paid in the amount of approximately 25% of the value of the transaction.
The amount is low because no installments are paid during the lifetime and the unpaid interest increases the loan amount to be repaid later.
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