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The Deal To Sell Your Home And Get Paid To Stay (Merged Topics)

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Buying a property with a sitting tenant and paying them to live there sounds like an odd investment, but the practice has been around in France since the 9th Century - and bizarrely it's getting more popular. Why?

We all know what it takes to sell a home: freshly brewed coffee, the smell of baking bread in the oven - but if you're buying under the ancient French system of viager you'd do better with a pile of medicine bottles in the bathroom cabinet and a nasty-sounding cough.

In a viager deal, the buyer pays a knock-down price - but only takes possession when the owner dies.

What complicates matters is that the buyer must pay the new tenant a monthly fee for the duration of their natural life - which could be months, years or even decades. And if all that sounds a bit like gambling on how long a stranger has left to live... well, it is. [more at link]

http://www.bbc.co.uk/news/magazine-33326787

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sorry i did check to see if had already been posted and missed this one....

Interesting system none the less even if it does highlight the problem rather than solve the underlying issues.

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My father bought the house next door to his (semi-detached) from a Lord with a sitting tennant (an old estate worker who seemingly would not die). He paid substantially less than market value (£12k I think... 80s) on the condition that Mr Meredith's council tax was paid and he got to live out the rest of his life rent free. Sadly, the poor sod died 6months later. The house was sold for nearly £300k this year and word is the old Baron is smarting a bit :D

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