the bare property

Bare ownership is the right of a person over a property, being the owner. However, this right does not imply the enjoyment of the good. This right is defined as usufruct, which allows a person to inhabit a home that is not theirs. Both rights usually come together in the same subject. Thus, when you buy a home, you generally get both full ownership, being both the bare owner and usufructuary. However, this is not always the case, since sometimes these legal figures are divided.

Inheritances.

Let’s think about inheritance. When children receive a home from, for example, their deceased father, they obtain bare ownership, but the usufruct would belong to the spouse. In this way, the widow or widower could enjoy the house while the usufruct lasts, which will be for life or temporary as stated in the will. The fact that the children are deprived of the usufruct does not mean that the house cannot be sold, but they must agree with the usufructuary, since their right is untouchable. Another possibility is that the right of usufruct is purchased from the person who owns it, since without it they will not be able to live or rent the house until the expiration or death of the usufructuary.

Transmission of rights.

For some time now, we have seen an increase in the number of advertisements for homes for sale that clarify in the description of the property that the sale operation is limited solely to the figure of bare ownership. It is a formula to have liquidity that is being used by more and more older people who do not have direct relatives and who hold full control over a property. Thanks to the transmission of this right, the seller keeps the usufruct, ensuring a roof until his death. In addition, through this operation, the usufructuary will have extra income with which to complete his pension in order to achieve a better quality of life.

One of the reasons why these types of transmissions are not more common is because most of those interested in buying do so with their sights set on residing in the home. However, for the buyer who is not in a hurry to move, it is a great option, since these homes are priced below market. That is why this type of acquisition is usually carried out by investor profiles, especially funds and SOCIMIs.