maude Posted November 20, 2006 Share Posted November 20, 2006 Can anyone please explain what this term means with regard to property sales and purchase?Thanks in anticipation, maude Link to comment Share on other sites More sharing options...
Missy Posted November 20, 2006 Share Posted November 20, 2006 It means that the purchase will be with a 'tenant' be it that it is the seller. Buying 'en viager' is to buy a house with its owner. Repayments are low whilst the 'owner' is alive but will increase sharply when the 'owner' dies. Unfortunately whilst you are buying the house and that person is still alive you cannot have true possession of the premises until the death of that person, therefore can't make any drastic alterations to it other than essential repairs i.e. patching a leaking roof ...... It is a way for elderly people to provide themselves a little 'pension'.... In a viager 'libre' that person is probably in an old people's home but his possessions are still at the house..... There again you are limited in what you can do.... There is a well known case in France of a person buying 'en viager', hoping that the elderly person would soon die that he could take full possession of her house. Poor guy died long before he could enjoy his 'investments' whilst the old dear lived on for a few years after him!.... Best to find out more from a notaire.... it is a bit more involved than this...... Link to comment Share on other sites More sharing options...
Cassis Posted November 20, 2006 Share Posted November 20, 2006 If you really want the full details, there is a booklet explaining the ins and outs of buying en viager available from this site - fill in the form online and pay 3.50€.Notaires de France Link to comment Share on other sites More sharing options...
Mel Posted November 27, 2006 Share Posted November 27, 2006 HiI don't quite agree with Missy about viager libre; my understanding is that the property WILL be empty and therefore you can put another tenant in it (or even use it). The owner may well be in an old people's home, so the "rente" is better for them than sale proceeds of the whole thing. The cafpi site www.cafpi.co.uk has more info, as well as noting some of the advantages and disadvantages of this type of French Property Investment. Personally, I don't like the idea of waiting for someone to die before you get your property - you would wake up each morning thinking ... "here's hoping"...BestMel Link to comment Share on other sites More sharing options...
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