The sale in Viager consists in « alienating all or part of its real estate capital», on payment of a life annuity for the duration of his/her life.

The annuity-debtor is the person that pays the annuity. He will take full ownership upon the death of the annuitant and of his/her spouse as part of the occupied viager scheme. He will have full ownership immediately for an inoccupied viager scheme.

The annuitant is the person who receives the annuity. He can retain the right of use and of habitation.

One can sell everything with a viager scheme, from the moment the object sold has an assured value (immediate or deferred possession). Thus, one can sell / buy jewels, works of art, a boat, a car, money, etc ... and of course, an apartment, a house, a building, a land, etc ...

Actually, there is no difference. It’s just a form of acquisition.

The peculiarity is essentially about the payment terms.

Of course, the legal aspects will adapt to the terms of the sale, which will make this type of acquisition particular and different.

Your Capifrance Viager Expert Advisor.

Establishing the financial terms of sale and legal terms of a contract is not easy. Only a true professional can help you while committing its professional responsibility.

• For a seller who wants to improve his retirement or wants to inherit on his own.
• For the purchaser who wishes to invest /capitalize for his retirement or to acquire a property in complete safety, for later.

They are many. The best known are the unoccupied viager and the occupied viager, but there are also to-term sales. All forms of sales have variants possibilities, and these are numerous.

To name but a few: on one head, on 2 heads, on the head of a third person who is not the owner of the sold property, with total reversion of the annuity to the last person alive or with a decreased annuity on the death of the first of the sellers, with an immediate rent, deferred, progressive, regressive, temporary, certain, limited in time ...

In principle, you are beneficiaries of the right of use and habitation. This right is yours. You cannot give it up.

The professional during the development of the preliminary contract.

Yes, they can. Thus, when the right of use and habitation are abandoned, the places will become free and “return” to the purchaser. This one will pay you a “reward” also called “counterpart” initially planned as of the preliminary contract. Generally, it is an increase in life annuity for your life. This increase may fluctuate with the age at which sellers abandon the right to use and live. In this case, the interest of well-established clauses really takes a real interest.

The bouquet is the sum paid in cash.

In addition to this, annuities are paid monthly or quarterly annuity.

Its payment is anticipated.

Yes, the annuity or the monthly payment (in the context of a to-term sale) is indexed, in order to preserve the purchasing power of the seller. The index chosen for an unoccupied viager or an occupied viager is usually the one of the INSEE, of the France consumption prices, Non-Tobacco Series, all urban households.

The bouquet is tax-exempt.

The viager benefits from significant tax allowances: 70% beyond 69 years old, the remaining 30% are added to your other income and can vary your income tax.

No taxation for certain annuities and / or monthly payments, regardless of the age of the seller.

These are the same guarantees as for a traditional purchase with some variants. The deed of sale evidencing the transfer of ownership is an authentic deed of sale signed at the notary’s office. The seller, to secure the payment of annuities or monthly payments (in the case of a to-term sale), will benefit from the seller’s privilege and will take a first mortgage to his benefit on the property he sells. It will benefit from a resolutive action in case of failure of the purchaser.

It’s a good question. Overall, the seller will be responsible for all “small” building work and repairs inside his home.

He will pay all the features he benefits from, the buyer all the heavy renovation work.

The list of these is very precisely included in the preliminary contract.

Yes, of course, and that at any time.

The new buyer will take over the contract (payment of life annuities or monthly payments).

It will compensate the original purchaser of a sum that will be agreed between them without the vendors having to intervene.

Yes, in the sense that everything is pre-planned in the pre-contract.

There are many for a sale with a viager scheme.

The beneficiary is guaranteed to receive an indexed pension throughout his life, regardless of the duration.

This security is appreciable especially as longevity continues to increase. The annuitant will not have to take on a lot of work, the property tax will be paid to him.

The life annuity is revalued.

The annuity rate is acquired as soon as it is set up, etc.

He prepares in the best possible conditions his retirement.

It constitutes a capital with a small savings (rent).

He pays the property much cheaper than if he was free.

It pays the costs of deeds and notaries for only part of the price.

He has no problem with the occupant.

He pays no maintenance work on the apartment and the building.

It does not collect rents that would increase its income tax.

He is serene while his capital (real estate) is gaining value over time.

The seller has nothing to worry about.

The acquirer must ensure the fair value of the property.

He must be certain of being able to pay the annuities / monthly payments.

Everything else is easy.

Certainly not.

The subject would require many questions/answers.

We did not talk about the mechanism of the life annuity, the indexation of it, indices, calculation methods, the use of data sources, the use of life expectancy tables retrospectives or perspectives, of the 2005 generation women/men tables, of the evaluation of the market value of the property, the average life expectancy of sellers, the various methods of assessing the right to use and housing, averages obtained, indices retained, cancellation clauses, and so much more (such as surplus value, protection clauses, articles of the Civil Code 605 and 606 , 1974, 918, 1968 and others, of the certificate of life, etc ...)

This is a real specialization, meet a Capifrance expert to find out more.