Hello,
Would you be able to clarify please;
If a property that its title is written on my name but has on it the following note:
“RIGHTS/EASEMENT
Subject to right of residence and life interest (———)
Beneficiary: 00000/0/0 (————-) file number (00000)”
Does it mean the beneficiary is able to sell this property/change the ownership of the property without my consent?
Thank you,
Dave
Property beneficiary rights
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Re: Property beneficiary rights
Hi Dave
It means that you can live in the property until you pop your clogs and the beneficiary of your property (whoever they may be) cannot take an dispose/occupy, etc. of the property.
This is usually used when parents gift their property to their children as there's no need for the property to be included in their Will. The 'life interest' means that their children cannot throw them out of the house.
Regards,
It means that you can live in the property until you pop your clogs and the beneficiary of your property (whoever they may be) cannot take an dispose/occupy, etc. of the property.
This is usually used when parents gift their property to their children as there's no need for the property to be included in their Will. The 'life interest' means that their children cannot throw them out of the house.
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news
Re: Property beneficiary rights
The title is in your name, but the beneficiary can life there for as long as he is alive. He cannot sell or dispose of the property, only the named person (ie you) can do this. Usually, it may also state' and 'usufruct' which also means that can also collect rents from it if they chose to rent it out.Dave_Lages wrote: ↑23 Jul 2023 13:32 Hello,
Would you be able to clarify please;
If a property that its title is written on my name but has on it the following note:
“RIGHTS/EASEMENT
Subject to right of residence and life interest (———)
Beneficiary: 00000/0/0 (————-) file number (00000)”
Does it mean the beneficiary is able to sell this property/change the ownership of the property without my consent?
Thank you,
Dave
Hope that helps
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FSB Properties Ltd
Registered and Licensed Real Estate Company. Reg. No. 1145, Lic. No. 572/E
Member of ETEK Registration No. A201999
https://www.fsbproperties.com