The sale and purchase of bare ownership of homes is banks usually finance arousing more and more interest in the market. This is an banks usually finance option aimed at those seniors who want to obtain liquidity with their home while still living at home . This operation gives the buyer the possibility of purchasing it with an average discount of , however, they will not be able to enjoy it until the usufructuary dies. The main drawback is financing . Although it is possible to apply for a mortgage, banks do not usually finance this type of operation, since they seek to mortgage the full ownership of a property, not just a part. Bare home ownership: What is it about? First of all, we must make clear what we mean when we talk about bare ownership of a home. In this type of operation , the full property is divided into two different parts. On the one hand, there is bare ownership, which means: being the owner of the thing that is acquired. On the other hand, we have the right of usufruct, which means that you have the right to use the thing in question.
What does it mean to be a bare owner?
When you are the bare owner of a property, you are the owner of said home. In other words, the asset is owned . However, if you only have bare ownership and not the right of usufruct. This means that it is not possible to use the home Netherlands Phone Number Data in question. Until we also have access to usufruct. Advantages of buying bare ownership of a home Although when we go to apply for a mortgage loan the most common thing is that we use the money to buy a complete home (full ownership), it is also possible to acquire only bare ownership. In this case, when purchasing the home we will not have the possibility of using it until we also have the usufruct of it . This is a very common option in the case of older people who are looking to sell their property but continue living in it until they die . As with reverse mortgages, this allows seniors to enjoy the money their property is worth without having to stop living in it.
How much does bare ownership cost?
By purchasing just bare ownership of a home rather than full ownership. It is possible to find much lower prices . The value of the bare property may vary depending on the home. Regarding this point, it is common to find price. Discounts of approximately Hong Kong Phone Number List between and of the usual. Value of the home in the event that it is acquir as full ownership and not only as bare ownership. Is it possible to apply for a mortgage to finance the purchase of the bare property? The answer to this question is yes . Even if we are thinking about applying for a mortgage to buy a home. This is one of the best options if what we are looking for is to own. A property without having to spend a large amount of money on the purchase. A mortgage is an obligation associat with the person receiving the mortgage loan . This means that, in this case, it is the person who purchases the bare property. Which is as collateral for the repayment of the debt. For this reason, it will be the owner, in other words, who owns the bare property.
