5 ms·

This exists in Italy as well, but it usually doesn't include a rent. You just buy the house at a discount. It's very very common in areas which are rapidly gent

by carlob 10y ago

This exists in Italy as well, but it usually doesn't include a rent. You just buy the house at a discount. It's very very common in areas which are rapidly gentrifying.

Pamar 10y ago
What is the Italian name for this type of contract?
- gosub 10y ago
  nuda proprietà
  - Pamar 10y ago
    That's what I supposed (I am Italian myself) but it looks different from the French thing. From what I understand with "nuda proprietà" you buy the apartment but cannot use it until the person in residence dies or voluntarily leaves. But you the owner will not pay anything to the "tenant". So there is no extra spending even if the person using the place lives much longer than expected.
    - carlob 10y ago
      Well nuda proprietà is actually a bit more general a concept: it just means that one person has ownership and the other has all the other benefits. Remember when Berlusconi touted that as the solution to his conflict of interest?
ahoy 10y ago
Don't we just call this a reverse mortgage in the US?
- djloche 10y ago
  from my understanding, reverse mortgage is a mortgage where the owners slowly encumber their property with debt. If the owners die (or decide to sell), the property is still the owners, but it has the mortgage debt on it so they have to pay that off as part of the process. these days, it is better to just move into a smaller flat and rent out the larger property at market rates.
akgerber 10y ago
This also happens in New York— one can buy an apartment with a rent-stabilized tenant in a building which has been converted to a coop. The tenant has a right to lease renewals until they die (and any family living with them at time of death has a right to lease renewals as well). Here is one: http://streeteasy.com/building/243-west-98-street-new_york/7e http://streeteasy.com/building/243-west-98-street-new_york/7...
- mzd348 10y ago
  I'd be suspicious of a building that uses Comic Sans on its awning.

by carlob 10y ago

This exists in Italy as well, but it usually doesn't include a rent. You just buy the house at a discount. It's very very common in areas which are rapidly gentrifying.

Pamar 10y ago

What is the Italian name for this type of contract?

gosub 10y ago
nuda proprietà
- Pamar 10y ago
  That's what I supposed (I am Italian myself) but it looks different from the French thing. From what I understand with "nuda proprietà" you buy the apartment but cannot use it until the person in residence dies or voluntarily leaves. But you the owner will not pay anything to the "tenant". So there is no extra spending even if the person using the place lives much longer than expected.
  - carlob 10y ago
    Well nuda proprietà is actually a bit more general a concept: it just means that one person has ownership and the other has all the other benefits. Remember when Berlusconi touted that as the solution to his conflict of interest?

ahoy 10y ago

Don't we just call this a reverse mortgage in the US?

djloche 10y ago
from my understanding, reverse mortgage is a mortgage where the owners slowly encumber their property with debt. If the owners die (or decide to sell), the property is still the owners, but it has the mortgage debt on it so they have to pay that off as part of the process. these days, it is better to just move into a smaller flat and rent out the larger property at market rates.

akgerber 10y ago

This also happens in New York— one can buy an apartment with a rent-stabilized tenant in a building which has been converted to a coop. The tenant has a right to lease renewals until they die (and any family living with them at time of death has a right to lease renewals as well). Here is one: http://streeteasy.com/building/243-west-98-street-new_york/7e http://streeteasy.com/building/243-west-98-street-new_york/7...

mzd348 10y ago
I'd be suspicious of a building that uses Comic Sans on its awning.