Life annuity

It's no secret that pensioners are one of the most vulnerable layers of the population. Old-age pensions are sufficient at best to ensure minimum requirements for food and clothing, and payment of utilities. Well, if an elderly person has children who help financially and physically - do repairs, go for groceries, carry on shopping. However, not everyone is so lucky. Some elderly parents already have adult children themselves constantly asking "to pay," some simply do not have children and, hence, have nowhere to wait for support.

How can you find a way out of this situation? For example, to conclude a permanent rent contract. If the pensioner does not have heirs, privatized housing after his death will depart the city, so it is much wiser to get the maximum benefit out of real estate while still alive.

What is life annuity? This is a cash payment that a person will receive from time to time until death. The agreement of such a plan is beneficial to both parties: one will receive material support, care, care and attention, which will need, and the second - real estate at a price much lower than the market. Life annuity is a real chance to acquire one's apartment, especially in large cities, where the price of housing rises to 5-7 million rubles. The amount of payments under the rent contract is tied to the subsistence level in the given subject of the country. There is a lifetime rent in the presence of a notary.

True, this contract has significant drawbacks. The first and, perhaps, the most important: if the rent is given to the apartment in which the owner lives, you can go to it only after his death. Therefore, the cases when the family pays money for many years under an annuity contract, while hanging on removable apartments, are not uncommon. The second minus is the uncertainty of terms. Indeed, a person can live after the conclusion of the contract for three months, or maybe twenty years. And during this time he must pay money for maintenance.

There is a case where lifetime rent was registered between a 40-year-old man and a 92-year-old woman. Concluding the contract, he expected that soon he would become the owner of her house and be able to move into it with his family. However, fate decreed otherwise. An elderly woman safely lived to 112 years old, and a man died at 60, and after his death, his grown up children continued to pay the contract. The house that was due to move away from them was essentially worn out during this time, moreover, for 20 years the family paid as much as it would have been enough to buy 3 such mansions.

Of course, this case is rather an exception, and not a rule, however, the essence of the example is clear - one can not calculate how many months or years will be paid for life annuity.

For the rent-seeking person, there is only one minus - there is a risk to run into criminals who, not wanting to spend money and wait for the natural end, will try to speed up its departure to another world. To prevent this from happening, it's better to negotiate with good friends, neighbors, relatives, friends. With children, too, you can conclude an annuity contract, especially if they were held financially, but they are not eager to help elderly parents. Life annuity can be issued for one or several people. In this case, real estate can be used after the death of the last owner specified in the contract.

You can arrange it not for yourself, but for a third person. For example, children who live in another country and who do not have the ability to care for their father and mother, but who own a home, can conclude an agreement with a third person who will receive an area in exchange for material support and assistance to parents. If the conditions are not observed , the rent contract can be terminated in court.