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estate sale Viager

Sale in life

The sale is a sale in an annuity. The rules relating to the sale must be observed. Its uniqueness lies in the payment of money: one part is usually stipulated cash, she received the name "bouquet" and the balance is converted into annuity .
This is a contract since the random lifetime of an individual limits the duration of the commitment of another. She has a chance to win for the seller if he lives long. In the same case, it corresponds to a risk of loss to the purchaser. The solution is reversed if the seller dies quickly. It this hazard which is essential to the validity of the contract. A

selling arrangement with real benefits

• For the seller (annuitant)
  - Make additional wages, pensions or pensions.
  - Keep or not the enjoyment of the property sold or even the right to lease up to his death.
• For the buyer (Débirentier)
  - Make an investment with little capital to start.
  - Acquire a building without using credit.

conditions of sale viager

All properties can be Life in a sale. The price and rent must be real and serious. Failure to void the sale may be imposed and the tax administration can also be seen as a disguised gift, heavy tax consequences.

The price of wholesale life frequently involves two elements

• Bouquet , its payment is freely determined between the parties and not mandatory.
• The pension whose amount is determined by:
  - the market value of the estimated day of sale.
  - or non-payment of a nosegay.
  - Reserve usufruct or right of use and habitation for the benefit of the annuitant.
  - the age of the annuitant. It refers to the schedules established by bodies such as the National Provident Fund, the insurance companies, etc.., From mortality tables.
  - the theoretical profitability of the property.

The revaluation of the sale

known adverse effects of currency depreciation. It is therefore essential to index the annuity. The choice of the index is free. The most common is the price index for urban household consumption published monthly in the Bulletin of the INSEE.
In general, The sale is subject to revision on a fixed date each year based on the latest index released upon signing of the deed of sale.
Where indexing is under contract, rents are submitted automatically to the mechanism of legal review. In January of each year's Finance Act provides an array of factors that increase should be applied according to the contract date.

guarantees payment of rent

Although Débirentier inspires total confidence, the annuitant can not neglect to take security on the property sold. In default of payment, the annuitant may not recover as annuities 5 years ago. The safeguards are planned
:

• The seller's lien (mortgage guarantee) the annuitant may seize the property and proceed with the judicial sale. The price of the sale will be used to pay the rent.
• action resolutory "of right": it allows the annuitant to take his property. In principle, the annuitant will not refund rents already collected. But the package will be returned to Débirentier.
  To avoid late payments, it is possible to predict the application of an interest rate of late.

Distribution charges and taxes

It arises when the seller has reserved the usufruct or right of use etd'habitation.
Unless agreed otherwise, the law provides:

• A load annuitant :
  - The rental repair or maintenance menu maintenance.
  - Local taxes, current charges.
• A load Débirentier :
  - Major repairs.

Taxation

The annuitant may be subject to tax on the gain if it owns less than 15 years of age or if it does not benefit from exemptions (eg sale principal residence).
In addition, a fraction of the pension is subject to tax on income (eg from 70 years, the taxable portion is 30%)
Conversely, the Débirentier nothing can deduct from their income taxable.
(Source of Paris Chamber of Notaries)