FAQ
Learn about all the concepts involved in the sale of bare ownership, life annuities, reverse mortgages or sales with guaranteed rent.
Sale of Bare Property
How many people can contract the product for the same house?
One or two people, as long as they are the owners of the house.
Who acquires the Nuda Property of your house?
An investor with extensive experience and a high level of specialization in the Spanish real estate market. Mas Vida We work with the best professionals in the sector.
When do you receive the Single Payment?
At the time of formalizing the product before a notary.
Can you use the Single Payment received to pay off your mortgage?
Yes, the amount you receive as a Single Payment can be used for the purposes that you decide.
Do you need to live in the house after formalizing the product?
No, regardless of where you live you will continue to maintain the Right to Use and Enjoy it.
Can you rent the house?
Yes, this allows you to earn an income every month. Mas Vida We take care of finding a tenant and managing the rental so you don't have to worry about anything.
And if you have to repair the windows of the house or change the fridge… Who bears these expenses?
This type of expense continues to be assumed by the user, since the only home maintenance expenses that are transferred to the investor are the Real Estate Tax, extraordinary spills and home insurance.
product regulation
The Single Payment (transfer of Bare Ownership) is regulated in the Spanish Civil Code in articles 467 and 469.
Full Ownership
Full Ownership of a house is made up of 2 rights:
- Bare property
- Usufruct
En Mas Vida We transfer the Right of Bare Ownership of your house, while you continue to maintain the Right of Use and Enjoyment over it for life.
Real Estate Life Annuity
How many people can contract the product for the same house?
One or two people, as long as they are the owners of the house.
Who acquires the Nuda Property of your house?
An investor with extensive experience and a high level of specialization in the Spanish real estate market. Mas Vida We work with the best professionals in the sector.
Are Monthly Rents guaranteed?
Yes, through a Resolution Clause that is included in the Public Deed. This establishes that, in the event of non-payment of 2 installments by the investor, you reacquire Full Ownership of your house without having to repay the payments received to date.
When do you start receiving Monthly Rents?
From the moment you formalize the product before a notary and always within the first 7 business days of each month.
Do you need to live in the house in order to receive the Monthly Rent?
No, regardless of where you live you will continue to receive the Monthly Income of the Real Estate Life Annuity
Can you rent the house after formalizing the product?
Yes, this allows you to obtain an additional income in addition to the Life Annuity. Mas Vida We take care of finding a tenant and managing the rental so you don't have to worry about anything.
And if you have to repair the windows of the house or change the fridge… Who bears these expenses?
This type of expense continues to be assumed by the user, since the only home maintenance expenses that are transferred to the investor are the Real Estate Tax, extraordinary spills and home insurance.
product regulation
The Life Annuity is regulated in the Civil Code of Spain in articles 1.802 and 1.808.
Sale and Leaseback
How many people can contract the product for the same house?
One or two people, as long as they are the owners of the house.
When do you receive the amount of the sale?
At the time of formalizing the product before the notary.
What percentage of the value of the house do you receive?
This amounts to approximately 80% of the market value of the house. However, this will depend on the date of birth of the youngest owner.
Is the rent to be paid constant during the duration of the contract?
Yes, although this is updated annually to the CPI.
Reverse Mortgage
Can a Reverse Mortgage be contracted to cancel another previously existing one?
Yes.
How is the loan that has been received repaid?
The user can repay the loan in life if they wish or after their death. In the latter case, the heirs will be responsible for settling the accumulated debt. within a period of 12 months following the death of the last of the owners. This debt will be equal to the sum of the provisions plus interest.
What expenses does the user have to formalize the reverse mortgage?
The user will have to assume the following expenses prior to the granting of the reverse mortgage: the amount of the official appraisal on the property and the costs of the independent advisor.
What does the entity charge for granting the reverse mortgage?
The entity charges a lifetime annual interest rate for the amount borrowed. This is accumulated annually to the amount of the debt. This amount is fixed in the constitution and does not change.