Life annuity is a real estate transaction popular in France where a buyer makes a down payment and then a series of payments on a house for as long as the seller is alive.
In a life annuity agreement, a person agrees to sell their property to a purchaser in exchange for a down payment, known in France as the “bouquet,” and regular cash instalments for the rest of their life.
Additionally, the seller continues to live in the house for the remainder of their life.
It is only when the seller passes that the purchaser is free to take over the property.
Victorine Immobilier offers expert advice on life annuity transactions.