There are a number of situations and information that flow within the real estate market, and it is in an attempt to approach them in a simplified way that we end up discovering new sources of knowledge. It is in this game of conversations about being a realtor that today Jetimob brought a little bit of how the enjoyment of real estate works. In real estate, a broker needs to be skilled in the different tasks that the routine requires. Between sales, collection of projects, communication with the client and organization of bureaucracy, he also needs to have a basis in real estate law. Imagine the following: a former client is in doubt about the will process and turns to you, who helped you with the purchase of the property, to find out what the next step is to be taken. Could you explain how the different possibilities for a will work? Or would you know what the usufruct of the property is? In most cases, the owner of the property plans to make it specified to whom it will be assigned after his death. Among the bureaucracies of a detailed testament, is usufruct, but after all, what would that term be? In a literal translation from Latin, usufruct means "use of fruits". In the real estate business, it has a direct relationship with the use and ownership of a property. It is a procedure that can be performed in a notary or be present in detail within a will. It allows the owner of a property to share his property, but still continue to enjoy it - until a pre-established date, or his death. It is at this point that the question arises: what is the difference between a usufruct and a will? Through it, the beneficiary has access to the asset from the moment the donor signs the document. This process works differently from the common will, where the document is only valid after the donor's death. The beneficiary, called the nu-owner here, will be the owner of the property, but will not be able to exercise or use the assets until the former owner allows it. This occurs, in most cases, with the death of the donor - here called usufructuary.

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How does it work and what are the values ​​of enjoying real estate?

Well, as was explained briefly before, the owner of the property must go to a registry office and request the opening of a usufruct process. It has similar costs to a deed, where the payment of the certificate and the Tax on the Transfer of Real Estate (ITBI) will be made. In order to carry out the procedure in a registry office, the donor must be in possession of the property registration number, along with two other witnesses, with identification and occupation document. After the death of the usufructuary, the nude owner will present the death certificate together with the donation document, thus passing the property on to his name and paying the remainder of the transmission fee. The notary also charges a fee for the donation and transfer of usufruct, which varies from region to region. The owner of the property can also choose to make the reservation through the will, in which - to avoid future inventory fights - it is donated while still alive.

Conditions and restrictions for the enjoyment of real estate

You, the real estate agent, need to be aware that there are some conditions, restrictions and situations regarding the enjoyment of properties that need to be clarified for the client. The resource, even though it is not carried out within the real estate, needs to be known by market professionals.

Do direct heirs lose their right?

It is not permitted, either through usufruct or will, to leave all assets to a non-direct heir. Under the law, in the event of the death of the owner, half of the assets are destined for his direct heir. It is not possible to donate all assets to another individual, as the legitimate heir in the future may legally challenge ownership of the property.

What will happen to the death of the naked owner?

In the event of the death of the naked owner, his direct heir will have the right to possession of the property, having to respect the conditions stipulated by the usufructuary. For example, an old man decides to donate a property to his son through usufruct. After the death of the father, the naked owner also ends up dying, leaving the property to his son - grandson of the first owner. The current owner will receive the property, but will still have to respect what was requested by his grandfather.

How to cancel the contract?

The usufructuary may withdraw from making the donation and withdraw the concession made at the registry office. To do this, just go to the place with an identification document and request the cancellation of the contract.

Can the property be rented or sold?

The usufructuary, after making the donation, will not be able to sell or rent the property, using it as if he were still the owner and paying all fees. In the case of the nu-owner, he cannot sell or rent without the usufructuary's permission. If the property is rented, the amount received must go to the same. Having safeguarded the situation in which the usufructuary dies, the rental agreement is still valid, but the one who receives the rent is the naked owner. Did you like the information that Jetimob prepared for you? It is important to know how the process of enjoying real estate works. So you will be prepared to answer customer questions and guarantee even better after-sales service.

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