Real Estate Annuity
What is an annuity?
OM’s Real Estate Annuity offers you the opportunity to sell part of your property (Bare Ownership) while retaining lifelong usage rights. By exchanging the bare ownership for a life annuity, you can continue enjoying your home and receive additional monthly income to supplement your pension. When the seller passes away, the property is transferred to the buyer.
What exactly does a Real Estate Annuity consist of?
A Real Estate Life Annuity is a secure and straightforward transaction conducted before a notary. It offers you the opportunity to sell the bare ownership of your property and receive a reliable monthly income for the rest of your life, all while retaining the right to use and enjoy your home. With Optima Mayores’ Real Estate Life Annuity, you can continue living comfortably in your home without worrying about owner expenses like community fees, property tax, or additional charges.
Unlike a Lifetime Mortgage, our Life Annuity provides you with even more income. Although it is not cancelable and the property cannot be inherited by your heirs, you can enjoy the peace of mind and financial stability it brings. With Optima Mayores, you can maintain the benefits of ownership and eliminate the burdens of property expenses.
What types of annuities are there?
While not all of them can be strictly categorized as such, these options provide opportunities to generate income from property investments:
- Life annuity: In this arrangement, the elderly individual sells the bare property but retains the right to use and enjoy it for the rest of their life. In return, they receive a reliable monthly income throughout their lifetime.
- Temporary Income: This option involves selling the bare property while retaining the usufruct for life, but with the difference that the income is received for a specific period of time. This modality allows for higher income compared to a life annuity, albeit for a shorter duration.