Usufruct in the sale of a home: everything you need to know

Selling a property with usufruct can be the perfect solution for those who want to take advantage of the value of their property without giving up certain rights. What’s more, it is an alternative that is becoming increasingly popular.

 Are you interested in this option? If the answer is yes, below you will find all the information you need to do it successfully.

What is the usufruct of a home? 

The usufruct is a right that allows you to enjoy a property without being the owner. This concept – regulated by the Civil Code – is usually associated with situations such as inheritances, divorce settlements or strategic decisions in sales and purchases.

Once extinguished, the owner recovers full possession of the property, being free to dispose of it without limitations. 

How is the usufruct acquired?

As mentioned above, usufruct can originate in different legal contexts. These are some of the most common forms: 

• Inheritances: the widowed spouse usually retains the usufruct of the property, allowing him/her to inhabit it while the heirs share the ownership.

• Divorces: in some cases, one of the spouses keeps the usufruct, especially if he or she has custody of the children.

• Sale and purchase: elderly people choose to sell the bare ownership of their home, thus guaranteeing liquidity while retaining their right of use.

Options for managing the sale of a home with usufruct 

When we talk about the usufruct in the sale of a home, it is important to know the alternatives available to formalize the transaction.

The most common ones?

• Sale of the freehold 

The usufructuary and the bare owner agree to sell the property in its entirety. The operation requires the signature before a notary, and the economic compensation is distributed according to the rights of each party.

• Sale of the bare property, keeping the usufruct 

A perfect option for those who wish to sell the ownership of the property without giving up the right of use. This formula is widely used by elderly people who seek to secure their residence and obtain an economic benefit.

The buyer, in this case, acquires the property, although he will not be able to use it until the usufruct is extinguished.

• Sale of the usufruct to the bare owner 

The usufructuary transfers his right to the owner, who acquires full ownership of the property. However, in order to carry out this operation, it may be necessary to formally renounce the usufruct, which is done before a notary.

We are the real estate agency you are looking for 

As you have been able to see, selling a property with usufruct does not have to be complicated if you have the right advice.

However, every detail, from the agreements between the parties to the final signature, requires the support of experts to ensure that the process runs smoothly.

Ahora bien, cada detalle, desde los acuerdos entre las partes hasta la firma final, requiere el respaldo de expertos que garanticen que el proceso se desarrolla sin inconvenientes. 

At KM2 Real Estate Services, our experience allows us to guide you through every step, ensuring that the transaction is clear, fast and effective.

We invite you to contact our agents or visit any of our real estate offices in Barcelona and Madrid for more information, we are waiting for you!