It is no secret that pensioners are one of the most vulnerable sections of the population. Old-age pensions are sufficient, at best, to meet the minimum needs for food and clothing, and to pay utility bills. It is good if an elderly person has children who help financially and physically - they make repairs, go grocery shopping, and carry them to shops. However, not everyone is so lucky. Some old parents who are already adult children themselves constantly ask "to pay", some simply do not have children and, therefore, there is no place to wait for support.
What way out of this situation can be found? For example, conclude a contract of permanent annuity. If a pensioner has no heirs, the privatized housing after his death will go to the city, so it is much more reasonable to get the maximum benefit from real estate during his lifetime.
What is life annuity? This is a cash payment that a person will receive periodically until death. An agreement of such a plan is beneficial to both parties: one will receive the financial support, care, care and attention that it will need, and the second - real estate at a price much lower than the market price. Life annuity is a real chance to get your own apartment, especially in large cities in which the price of housing rises to 5-7 million rubles. The amount of payments under an annuity contract is tied to the subsistence level in a given subject of the country. Life annuity is concluded in the presence of a notary.
True, this agreement also has significant disadvantages. The first and, perhaps, the most important one: if the apartment in which the owner lives is rented, you can enter it only after his death. Therefore, cases when a family pays money for many years under an annuity contract while wandering around rented apartments are not uncommon. The second minus is the uncertainty of terms. Indeed, a person can live after signing a contract for three months, or maybe twenty years. And during all this time he should be paid money for maintenance.
There is a known case when a life annuity was drawn up between a 40-year-old man and a 92-year-old woman. Concluding the contract, he hoped that he would soon become the owner of her house and be able to move into it with his family. However, fate decreed otherwise. An elderly woman safely lived to 112 years, and the man died at 60, and after death, his grown children continued to pay under the contract. The house, which was supposed to move to them, has worn out significantly during this time, in addition, over 20 years the family paid as much as would be enough to buy 3 of these mansions.
Of course, this case is rather an exception, not a rule, however, the essence of the example is clear - you cannot calculate how many months or years life annuity will be paid.
For the recipient, there is only one minus - there is a risk of running into criminals who, not wanting to spend money and wait for a natural end, will try to speed up his departure to another world. To prevent this from happening, it is better to negotiate with good friends - neighbors, relatives, friends. With children, you can also enter into an annuity contract, especially if they were financially successful, but at the same time they are not eager to help elderly parents. Lifetime annuity can be arranged for both one and several people. In this case, real estate can be used after the death of the last owner specified in the contract.
You can draw it not on yourself, but on a third party. For example, children who live in another country and are not able to care for their father and mother, but who own housing, can enter into an agreement with a third party who will receive an area in exchange for material support and assistance to parents. Failure to comply with the conditions may terminate the annuity contract in court.