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reversion properties

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Carolina Hopkins Guest 0.10 Dollars($)	Posted: Fri Jul 20, 2007 9:01 am    Post subject: reversion properties Upon entering into a contract to buy a reversion property, at what point is the title of the property transferred from the vendor to the buyer. I was wodering if it is after the initial lump sum is deposited into the vendors account, or whether it is upon the death of the vendor after all annuities have been payed. In the event of the latter scenario, is it possible for family members to try to lay claim to the property upon the vendors death.
blue Joined: 21 Oct 2005 Posts: 1138 Location: MARYLAND 135.15 Dollars($)	Posted: Fri Jul 20, 2007 12:53 pm    Post subject: Hi Carolina, Welcome to Mortgagefit discussion board. The buyer gets ownership of property only after death of owner. The seller retains full rights to remain in occupation of his home for rest of his life. The other thing is that seller's family members cannot claim ownership of the house after seller's death as an agreement is made which is legal and results in transfer of ownership rights over to buyer after seller dies. Do let me know if you have any other questions. Thanks Blue _________________ Lets help each other. Try my blog
miller_st Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)	Posted: Fri Jul 20, 2007 12:57 pm    Post subject: You can know more about reversion properties and how the buyer gets ownership after seller’s death from this page: http://www.mortgagefit.com/know-how/reversion-property.html
Salvia Van Houtii Guest 0.10 Dollars($)	Posted: Fri Jul 20, 2007 1:02 pm    Post subject: Quote: Upon entering into a contract to buy a reversion property, at what point is the title of the property transferred from the vendor to the buyer. I was wodering if it is after the initial lump sum is deposited into the vendors account, or whether it is upon the death of the vendor after all annuities have been payed. In the event of the latter scenario, is it possible for family members to try to lay claim to the property upon the vendors death. this is a good resource to get details about reversion properties: 1st-for-french-property.co.uk/reversion-french-property/faq.htm

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