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Index

Bare ownership

The bare ownership is when there are two people involved in the possession of a property. These are, el Owner knot and the usufructuary. These people have rights and duties related to a good, as it can be a House.

Questions and answers

What is the full ownership?

Full ownership is related to the title of the domain that you may have on the whole or part of a building. Within this full ownership can intervene other figures such as the usufructuary and the owner node. We will then see a summary about what rights and duties apply to each.

What is the owner of the domain?

The owner of the full domain is what we mean by an absolute owner, es decir, who possesses and enjoys a property. You have the total right on property, However, at the time a legal business is performed, the concepts of usufruct and bare ownership must be distinguished, for, in this way, differentiate the benefits and obligations that should apply to the company or business that is associated with this property.

What is the difference between bare ownership and full control?

When a person acquires a property, you get what is known as the domino. The domino is divided between the bare ownership and usufruct for life. In this case we would be talking of selling only the bare ownership, with which the person would have while he lived the housing usufruct.

What is the usufructuary of a dwelling?

The usufruct is the right of use and enjoyment of a well outside that implies the obligation to keep it. Therefore, the usufructuary is who can use it, enjoy it and keep it, but it is not the owner.

¿Owner knot?

The owner node is the owner of the well that is at the disposal of the usufructuary. I mean, It is the person who has the bare ownership (lawful possession) property and on which rests a right of usufruct (use and enjoyment by third parties) that protects one or more beneficiaries.

Can you sell a property Nuda?

Yes. It is an increasingly common practice, Since it allows that the seller can keep your home and transfer the possession of the property to a third party receiving the full money from the sale at the time of the signature.

Seller profile tends to be one grown-up without heirs or, that you are in a precarious economic situation and need to qualify for this type of sale, which tends to be open to a better negotiation.

Can I sell my house and keep me as usufructuary?

Yes. This option is very common today, There is a profile of the person that is seen in the situation of selling their home but need to continue living in it. In this case, the seller retains the usufruct of the property of lifetime, improving their quality of life and the tranquility of power keep your home. Should only be paying the supplies they consume. The IBI and possible spills fall on the account of the Owner knot.

Can I buy a House with usufruct?

Yes. Usually this option considering investors who decide to buy a property whose use and enjoyment is intended for a future long term. The buyer acquires the right to bare ownership, es decir, You can dispose of it at the end of the usufruct following the death of the seller. It's a form of investment on the rise since it offers the best legal guarantees, which must be registered before a notary in the same way as a normal purchase and sale.

Can more than one beneficial owner there be in the same property?

According to the civil code, Yes. The usufruct may be in favour of two or more persons, who divided the good object of enjoyment in an estimated percentage. This is only with regard to the legality, Now if these people coexist simultaneously, It is understood that they will make a natural use of space to occupy. Is receipt to indicate that the usufruct can not inherit or transmit, Since it is an enforceable right after the death of the usufructuary, However, There are exceptions that we will see below.

How long can last the usufruct of real estate?

There are two ways to estimate time that should last a usufruct. The usufruct may be for specified time, or for life.

If it is during a period of time and the usufructuary dies before they may require the transmission of the usufruct to the heirs if there is an initial contract having as well.

If the usufruct is for life, the title shall be required following the death of the holder. If you have several holders, only you may require after the death of the usufructuary last.

What obligations has the Usufructuario to the node owner??

The conservation and care of the property shall be in charge of the usufructuary since I know that legally the transmission of heritage at the time of extinguishing the usufruct should be under the best conditions. It may be therefore required, repair and preservation of the property by the owner node to the usufructuary. The payment of the IBI tax as well as farm supplies, They also fall on the usufructuary, except on occasions when you reach an extraordinary agreement with the owner node.

Would you like to learn in more detail? Consult directly with an advisor and you we will be personalized on our offices of Planetacasa.

What does bare ownership mean??

Bare ownership refers to a form of ownership of real estate in which the right to use and enjoy the property is held., but you do not have full ownership of it. In other words, you have the right to use the property, but not to sell it or transmit it to other people. Full ownership of the property rests with another person or entity, which is called the owner of the full property or owner under universal title.

Bare ownership is a figure that is frequently used in the field of real estate investment., since it allows the owner of the bare property to obtain an economic return from the property without having to assume all the costs and responsibilities that full ownership entails. Por otro lado, the owner of the freehold can continue to enjoy the use of the property and receive income for it. It is important to take into account that the bare ownership is a figure that must be provided for in the property title of the property and that must be registered in the Property Registry. Also, It is necessary to establish an agreement between the owner of the bare property and the owner of the full property to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them.

What does it mean to sell bare ownership?

Selling bare ownership means selling the right to use and enjoy real estate, but not full ownership of it. The buyer acquires bare ownership of the property and the seller retains full title or full ownership of the property.

This type of sale is frequently used in the field of real estate investment., since it allows the seller to obtain an economic return from the property through the perception of an income by the buyer of the bare ownership, while the buyer can obtain a return on the property without having to assume all the costs and responsibilities that come with freehold ownership.

It is important to take into account that the sale in bare ownership must be provided for in the property title of the property and must be registered in the Land Registry. Also, it is necessary to establish an agreement between the seller and the buyer to regulate the conditions of use and enjoyment of the good, as well as the obligations and responsibilities of each of them.

What is the difference between bare ownership and usufruct??

Bare ownership and usufruct are two legal figures that are used to regulate the ownership and use of real estate.. Although both have some similarities, There are also some important differences between them.:

the usufruct, On the other hand, It is the right to enjoy and economically take advantage of a good during a determined period of time., without owning it. The usufructuary has the right to receive the fruits of the property (rents, interests, etc.), but you do not have the right to alter or modify the property in any way. The owner of the asset is called the bare owner.

In summary, The main difference between bare ownership and usufruct is that, In the first case, the right to use and enjoy the property is held, but not full ownership of it, while in the second case you have the right to enjoy and make economic use of the property, but you don't own the property.

Who inherits the bare ownership?

Bare ownership is a real right over real estate that can be transferred to other people through sale or donation.. Por tanto, in the event that the owner of the bare property dies, the bare ownership could pass to your heirs as provided in your will or, failing that, according to the rules of succession established in the legal system.

It is important to take into account that the bare ownership is a figure that must be provided for in the property title of the property and that must be registered in the Property Registry. Also, it is necessary to establish an agreement between the owner of the bare ownership and the owner of the full ownership to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them. If the owner of the bare property dies, these conditions must be taken into account when determining who inherits the bare property.

What happens when the owner of the house dies and I have the usufruct?

When the owner of a house dies and the usufructuary has the right of usufruct over it, the usufructuary can continue to enjoy and economically take advantage of the asset during the period of time provided for in the usufruct agreement. However, after that period, the usufruct expires and the property returns to be the full property of the bare owner or his heirs.

It is important to bear in mind that the usufruct is a personal right and cannot be transferred to other people.. Por tanto, upon the death of the usufructuary, the usufruct expires and the property returns to be the full property of the bare owner or his heirs.

The beneficial owner may have entered into a life beneficial ownership agreement, es decir, a usufruct that lasts throughout the life of the usufructuary. In this case, the usufructuary could continue to enjoy the property after the death of the owner, as long as the usufructuary has not died before. However, after the usufructuary passes away, the usufruct expires and the property returns to be the full property of the bare owner or his heirs.

When is the bare ownership lost??

Bare ownership is a real right over real estate that can be transferred to other people through sale or donation.. Por tanto, the bare ownership is lost when it is transferred to another person through any of these modalities.

It is important to take into account that the bare ownership is a figure that must be provided for in the property title of the property and that must be registered in the Property Registry. Also, it is necessary to establish an agreement between the owner of the bare ownership and the owner of the full ownership to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them. If any of these transmissions occur, it is necessary to modify the deed and the corresponding agreement to reflect the new ownership of the bare property.

Además, it is possible that the bare property expires due to the passage of time, if a certain term is established for the use and enjoyment of the property. In this case, after the deadline, the bare ownership expires and the asset returns to full ownership of the owner of the full ownership or of the owner under universal title.

What happens if the owner of the bare property dies??

When the owner of the bare property dies, the bare ownership may pass to your heirs as provided in your will or, failing that, according to the rules of succession established in the legal system. It is important to keep in mind that bare ownership is a real right over real estate that can be transferred to other people through sale or donation.. Por tanto, upon the death of the owner of the bare property, the bare ownership can be transmitted to his heirs in the same way.

What rights does the bare owner have?

The bare owner is the person or entity that owns full ownership of a real estate property., but who has assigned the right to use and enjoy it to another person or entity, which is called the owner of the bare property. The bare owner maintains full ownership of the property and, por tanto, has the rights that correspond to any owner.

Among the rights of the bare owner are:

The right to possess the property: the bare owner has the right to possess the property and dispose of it to the extent that it does not affect the right of use and enjoyment of the owner of the bare ownership.

The right to receive the fruits of the good: the bare owner has the right to receive the fruits of the property (rents, interests, etc.), as long as it does not affect the right of use and enjoyment of the owner of the bare property.

The right to transfer the property: the bare owner has the right to transfer the property to other people through sale or donation.

It is important to note that the bare owner must respect the owner's right to use and enjoy the bare property and cannot alter or modify the property in any way without their consent.. Also, it is necessary to establish an agreement between the bare owner and the owner of the bare ownership to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them.

Who pays the taxes, the bare owner or the usufructuary??

In the case of bare ownership, the owner of the bare property is the one who has the right to use and enjoy the property, so it is who must take charge of the taxes corresponding to the property. The owner of the freehold property or the owner with universal title, es decir, the proprietary knot, has no obligation to pay the taxes corresponding to the property, although an agreement can be established between both parties so that the bare owner assumes this type of obligation.

In the case of usufruct, the usufructuary is the one who has the right to enjoy and economically take advantage of the property during a determined period of time, so it is who must take charge of the taxes corresponding to the property. The proprietary knot, es decir, the owner of the property, has no obligation to pay the taxes corresponding to the property, although an agreement can be established between both parties so that the bare owner assumes this type of obligation.

It is important to bear in mind that each case is unique and that the tax obligations of the owner of the bare property or of the usufructuary may vary depending on the conditions established in the property title of the asset and in the corresponding agreement.. Por tanto, It is advisable to consult an expert in the field to obtain detailed and updated information on tax obligations in each specific case..

What happens to the bare ownership when the usufructuary dies??

When the usufructuary dies, the usufruct expires and the property returns to be the full property of the bare owner or his heirs. It is important to bear in mind that the usufruct is a personal right and cannot be transferred to other people.. Por tanto, upon the death of the usufructuary, the usufruct expires and the property returns to be the full property of the bare owner or his heirs.

The beneficial owner may have entered into a life beneficial ownership agreement, es decir, a usufruct that lasts throughout the life of the usufructuary. In this case, the usufruct could continue in force after the death of the usufructuary, as long as the owner knot has not died before. However, once the owner knot passes away, the usufruct expires and the property returns to be the full property of their heirs.

In the case of bare ownership, It is important to keep in mind that bare ownership is a real right over real estate that can be transferred to other people through sale or donation.. Por tanto, upon the death of the owner of the bare property, the bare ownership can be transmitted to his heirs in the same way. It is necessary to take into account the conditions established in the property title of the asset and in the corresponding agreement to determine who inherits the bare ownership in the event of the owner's death. It is important to take into account that the bare ownership is a figure that must be provided for in the property title of the property and that must be registered in the Property Registry. Also, it is necessary to establish an agreement between the owner of the bare ownership and the owner of the full ownership to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them. If the owner of the bare property dies, these conditions must be taken into account when determining who inherits the bare property.

How is bare ownership transmitted??

Bare ownership is a real right over real estate that can be transferred to other people through sale or donation.. To convey the bare ownership, it is necessary for the owner of the bare ownership to make an express declaration of his willingness to transfer the bare ownership to another person, either for free (donation) or by paying a price (sale).

The transmission of the bare property is carried out through the granting of a public document (Public deed) notary, in which the conditions of the transmission are specified (price, payment methods, etc.), as well as the data of the good object of the transmission (asset identification, description, etc.). It is important to take into account that the transfer of bare ownership must be registered in the Land Registry for it to take effect against third parties..

It is necessary to take into account that, in the case of bare ownership, It is important to establish an agreement between the owner of the bare property and the owner of the full property to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them. If any of these transmissions occur, it is necessary to modify the deed and the corresponding agreement to reflect the new ownership of the bare property.

How is the value of the bare property calculated?

The value of the bare property is calculated based on the value of the object of the bare property. In general, the value of the bare property is determined as the value of the property minus the value of the usufruct. The value of the usufruct is calculated based on the age and life expectancy of the usufructuary, as well as the profitability of the property and other relevant economic factors.

It is important to take into account that the value of the bare property may vary depending on the conditions established in the property title of the property and in the corresponding agreement.. Por tanto, It is advisable to consult with an expert in the field to obtain an accurate and updated assessment of the value of the bare property in each specific case..

Además, It is necessary to take into account that the value of the bare property may vary depending on the real estate market and other economic and financial circumstances.. Por tanto, It is important to carry out an updated valuation of the value of the bare property at the time it is transferred.

How to leave usufruct to a child?

To leave usufruct to a child, it is necessary to establish a provision in the will in which the will to leave the usufruct to a specific child is established. It is important to bear in mind that the usufruct is a personal right and cannot be transferred to other people.. Por tanto, the usufruct can only be left to a child through a testamentary disposition.

In the testamentary disposition, it is necessary to specify the terms and conditions of the usufruct, including the duration of the usufruct (For example, for life or for a specified period of time), the object of the usufruct (For example, a certain dwelling or a part of the inheritance), as well as the obligations and responsibilities of the usufructuary.

It is important to bear in mind that the testamentary provision must meet the requirements established in the legal system to be valid.. Por tanto, It is advisable to consult with a lawyer or a notary to obtain detailed and up-to-date information on how to leave usufruct to a child and to obtain advice on how to draw up the testamentary disposition.

What happens if the beneficial owner spends the money?

The usufructuary has the right to enjoy and economically take advantage of the property during a determined period of time.. This includes the right to receive the fruits of the property (rents, interests, etc.) and to use the asset for economic benefits.

However, the usufructuary is obliged to keep the property in good condition and to preserve its value. Por tanto, the usufructuary cannot waste the money obtained from the usufruct and must use it for the maintenance and conservation of the property.

In the event that the usufructuary wastes the money obtained from the usufruct and does not comply with its obligation to maintain and preserve the property, the bare owner or his heirs could file a legal action to demand compliance with said obligation. In this case, the judge could order the usufructuary to restitute the wasted money or to comply with its obligation to maintain and preserve the property in another way.

It is important to take into account that the obligations and responsibilities of the usufructuary are established in the property title of the asset and in the corresponding agreement.. Por tanto, it is advisable to consult with a subject matter expert for detailed information

How many years does the usufruct last??

The duration of the usufruct depends on the conditions established in the property title of the asset and in the corresponding agreement.. In general, the usufruct can last a certain period of time or it can be for life, es decir, last for the life of the usufructuary.

If the usufruct is for life, the usufructuary has the right to enjoy and make economic use of the asset throughout his life. Once the beneficial owner dies, the usufruct expires and the property returns to be the full property of the bare owner or his heirs.

If the usufruct is for a certain period of time, the usufructuary has the right to enjoy and economically take advantage of the property during the established period of time. After the set period of time elapses, the usufruct expires and the property returns to be the full property of the bare owner or his heirs.

It's important to put attention on, in the case of bare ownership, It is important to establish an agreement between the owner of the bare property and the owner of the full property to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them. If any transmission of the bare property occurs, it is necessary to modify the deed and the corresponding agreement to reflect the new ownership of the bare property.

Who inherits the life usufruct?

The life usufruct is a real right that consists of the right to enjoy and economically take advantage of an asset during the entire life of the usufructuary.. Once the beneficial owner dies, the usufruct expires and the property returns to be the full property of the bare owner or his heirs.

If the usufructuary dies and has left a will in which he has established who should inherit the life usufruct, the heirs of the usufruct will be those persons whom the usufructuary has named in the will as heirs of the usufruct. It is important to bear in mind that the usufruct is a personal right and cannot be transferred to other people.. Por tanto, the usufruct can only be left to the heirs through testamentary disposition.

If the usufructuary dies without leaving a will, the life usufruct will fall to the legal heirs of the usufructuary. Legal heirs are those persons to whom the law attributes the right to inherit in the absence of a will.. In general, the legal heirs are the spouse, the children and ancestors of the deceased. If the usufructuary does not have a spouse, children or ascendants, the legal heirs will be the collaterals of the deceased, es decir, Brothers, nephews, uncles, cousins, etc.

It is important to bear in mind that the law establishes an order of succession in the event of death without a will, Therefore, it is necessary to determine who are the legal heirs in each specific case.. It is advisable to consult with a lawyer or an expert in the matter to obtain detailed and updated information on who inherits the life usufruct.

What is the difference between bare ownership and full control?

Bare ownership and full ownership are two different forms of ownership of real estate.. Bare ownership consists of the right to own real estate without having the right to enjoy and take advantage of it economically.. Por tanto, the owner of the bare property does not have the right to receive the fruits of the property (rents, interests, etc.) nor to use the property for economic benefits.

full ownership, On the other hand, consists of the right to own real estate and to enjoy and make economic use of it. The owner of full ownership has the right to receive the fruits of the property (rents, interests, etc.) and to use the asset for economic benefits.

In general, bare ownership and full ownership can exist separately or jointly. I mean, the same person can be the owner of bare ownership and full ownership of real estate, or there may be two different holders, one owner of bare ownership and another owner of full ownership.

It's important to put attention on, in the case of bare ownership, It is necessary to establish an agreement between the owner of the bare ownership and the owner of full ownership to regulate the conditions of use and enjoyment of the property, as well as the obligations and responsibilities of each of them. If there is any transfer of bare ownership or full ownership, it is necessary to modify the title deed and the corresponding agreement to reflect the new ownership of bare ownership or full ownership.

How much is paid to the Treasury for a usufruct?

The usufruct is a real right that consists of the right to enjoy and economically take advantage of an asset during a determined period of time or during the entire life of the usufructuary.. The usufructuary has the right to receive the fruits of the property (rents, interests, etc.) and to use the asset for economic benefits.

In general, the usufructuary is responsible for paying the corresponding taxes for the income obtained from the usufruct. This includes Personal Income Tax (PERSONAL INCOME TAX) and the Corporate Tax (ES), depending on whether the usufructuary is a natural person or a company, respectivamente.

It is important to bear in mind that the usufructuary is only responsible for paying the corresponding taxes for the income obtained from the usufruct and not for the value of the asset subject to the usufruct. Por tanto, the usufructuary does not have to pay taxes for the value of the bare property or for the value of the freehold.

When a property has usufruct can it be sold??

Yes, In general, it is possible to sell a property that has usufruct. However, It is important to bear in mind that the usufruct is a real right that affects the property subject to the usufruct and that, por tanto, limits full ownership of property.

When a property has usufruct, the owner of the freehold (aka the proprietary knot) is the owner of the property, but does not have the right to enjoy or take economic advantage of the same. Por tanto, the bare owner has no right to receive the fruits of the property (rents, interests, etc.) nor to use the property for economic benefits.

the usufructuary, On the other hand, is the person who has the right to enjoy and economically take advantage of the property during a certain period of time or throughout his life. The usufructuary has the right to receive the fruits of the property (rents, interests, etc.) and to use the asset for economic benefits.
When selling a property that has usufruct, It is necessary to take into account that the usufructuary has rights over the property and that, por tanto, the sale of the property does not affect the rights of the usufructuary. I mean, the usufructuary continues to have the right to enjoy and make economic use of the property during the established period of time, regardless of who is the new holder of the freehold.

Por tanto, when selling a property that has usufruct, it is necessary to state in the sales contract the existence of the usufruct and the conditions in which it is located. It is important to bear in mind that the usufruct is a personal right and cannot be transferred to other people.. Por tanto, the usufructuary cannot be the object of the sale and must remain the holder of the usufruct after the sale of the property.

Consulting with a lawyer or subject matter expert is recommended for up-to-date, detailed information on how to sell beneficial ownership property and to ensure beneficial ownership rights are respected during the sale process..

What taxes do you have to pay for the bare ownership of a home??

Bare ownership is a real right that consists of the right to own real estate without having the right to enjoy and take advantage of it economically.. Por tanto, the owner of the bare property does not have the right to receive the fruits of the property (rents, interests, etc.) nor to use the property for economic benefits.

In general, The owner of the bare ownership is obliged to pay the corresponding taxes for the value of the asset that is the object of the bare ownership. This includes Real Estate Tax (IBI), which is a municipal tax that must be paid annually for the ownership of real estate. The IBI is calculated based on the cadastral value of the property and the rates applicable in each municipality.

In addition to the IBI, the owner of the bare property may also be required to pay other taxes, such as the Wealth Tax or the Inheritance and Gift Tax, depending on the specific circumstances of each case.

It is important to take into account that the owner of the bare property is not responsible for paying the corresponding taxes for the income obtained from the usufruct. I mean, the owner of the bare property does not have to pay taxes on the income, interests, etc. what the usufructuary receives.

It is advisable to consult with a subject matter expert or tax advisor for detailed and up-to-date information on the taxes that must be paid for bare home ownership and to ensure that you comply with the corresponding tax obligations..

Bare ownership

Owner knot