Bare ownership is a concept related to real estate ownership. In this case, a property is divided into two rights: bare ownership and usufruct. Bare ownership is the ownership of the property without the right of use and enjoyment, which falls on usufruct. This means that the owner of the bare property has possession, but cannot use or enjoy the property for a specific period, usually due to agreements. Bare ownership and usufruct are joined again when the usufruct comes to an end, consolidating the property into a single entity.
What does the sale of bare ownership of a property entail?
The sale of bare property implies that the owner is transferring only the ownership of the property, without the right of use and associated enjoyment (usufruct) in exchange for a single monetary amount or monthly rents.
In other words, the seller is giving up possession, but not the benefits of living in or using the property in exchange for collecting an amount
The buyer acquires bare ownership and generally must wait until the usufruct ends before being able to fully use the property.
This transaction may be the result of agreements or other circumstances in which it is desired to separate the right of ownership from the capacity for enjoyment.
What are the benefits of selling bare property?
Some of the benefits associated with selling bare property are:
- 1. Liquidity for the seller: Allows the owner to obtain immediate liquidity when selling the bare property, without giving up the right of use and enjoyment for a certain time.
- 2. Estate planning: It can be an effective strategy for estate planning by allowing for the transfer of ownership.
- 3. Discount on the purchase price: For the buyer, acquiring the bare property often implies a lower purchase price compared to purchasing the entire property, since the usufruct remains with the seller.
- 4. Investment diversification: For investors, purchasing bare property can offer a way to diversify your real estate portfolio and obtain long-term returns.
If you want to increase your purchasing power without losing your home, this is your place. To do this, you only need to meet 2 requirements:
- 1- Own a home.
- 2- Be over 65 years old.
Contact us and we will advise you!