FAQ´s

Property Nuda

Yes, the sale of bare ownership takes place before a solicitor and is governed by law. All the rights and obligations of both parties are set out in the deed of sale and registered with the Land Registry, which provides you with the utmost guarantee and security.

Yes, that is the main benefit. You retain the right of life tenancy, which guarantees you by law the right to use and enjoy the property for the rest of your life.

The seller (usufructuary) is responsible for utility bills (electricity, water, gas), the standard service charge, and the portion of the home insurance policy covering the contents.
The buyer (bare owner) is responsible for paying council tax, any extraordinary service charges, and the portion of the home insurance policy covering the building structure.

People aged 65 or over who sell the bare ownership of their main residence (where they have lived for at least the last three years) are exempt from paying any capital gains tax under the Income Tax (IRPF) scheme; therefore, in this specific case, they would only be liable for municipal capital gains tax. We will advise you so that you are fully aware of your specific tax situation.

Yes. As a usufructuary, you retain the right to use the property and to derive financial income from it; therefore, you may rent it out if you wish.

Ownership of the property is no longer part of your estate. Any money you receive from the sale becomes part of your personal assets, which you can leave to your heirs.

The right of life-long usufruct is personal and non-transferable. Ownership would pass to the buyer’s heirs, but their right to live in the house remains intact and is legally protected.

The value of bare ownership is calculated primarily on the basis of two factors. The first is the market value of the property, which is the price at which it would sell on the market at that time. The second factor is the age of the usufructuary. This is a key factor, as the value of their right to live in the house is calculated based on their life expectancy. The older the seller is, the higher the value of the bare ownership will be, as the usufruct will have a shorter estimated duration. Our team carries out this calculation rigorously and transparently, ensuring that the valuation you receive is fair to you.
When you’re looking for a financial solution or need to raise funds, there are several options available. Selling your bare ownership stands out for a number of benefits that are particularly well-suited to your needs:
  • Keep your home: The most significant advantage is that you receive a substantial sum of money, but you don’t have to leave your home. You continue to live there for life, with complete peace of mind.
  • You do not go into debt: Unlike other financial products (reverse mortgage), here you receive the capital from the sale and do not take on any debt. It is a solution with no repayments or interest.
  • It frees you from expenses: The new owner takes care of the most significant expenses, such as council tax (IBI), extraordinary community charges and the part of the home insurance policy covering the building itself, easing your financial burden.
  • It is a definitive solution: It is a clear process with no surprises that provides you with the capital you need immediately or in instalments, so that you can take control of your future without worries.
In short, bare ownership gives you the best of all the different solutions: the security of staying in your lifelong home and the financial peace of mind you need to enjoy this stage of life.
These three concepts are closely related and form the basis of a bare ownership sale. The difference is simple: Full Ownership is the complete ownership of a property; in other words, you hold both the title and the right to use and enjoy it. It is the most common form of ownership. Usufruct is simply the right to use and enjoy the property, either for life (life-long usufruct) or for a limited period. It does not confer ownership. Bare ownership is the title to the property, but without the right to use or enjoy it. When you sell bare ownership, what you are doing is selling the title to the property, but you retain the right to use it (the usufruct).
  • This is a financial product offered by credit institutions (banks) or insurance companies. It involves mortgaging the property at high interest rates (6–7%), thereby leaving a debt to your heirs.
  • The amount received is lower than that from a sale of the bare ownership.
  • Living in the property for a long time works against the interests of owners and heirs, as the debt increases every month because interest is added to the principal.
  • In short, a reverse mortgage is a tool for obtaining liquidity, but it comes at a high financial cost.
Yes, it is entirely possible. Selling the bare ownership of a second home works exactly the same as selling a main residence. You sell the title to the property but retain the right of life-long usufruct. This means you can continue to use and enjoy it for the rest of your life. The main difference compared to selling a main residence is tax-related, as the income tax exemption for those over 65 only applies to the main residence. Otherwise, the process is identical. If we are talking about another type of property: Yes, this is also possible. The concept of bare ownership and usufruct applies to any type of property, not just homes. You can sell the bare ownership of commercial premises or an industrial unit, whilst retaining the right of usufruct. In this case, the usufruct would not give you the right to live in the property, but rather the right to use it for a commercial activity or to let it out, receiving the income generated by the rent for life.
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