The reverse mortgage is a type loan where a financial institution grants certain amounts to a client, either monthly or at the time of constituting the mortgage, equivalent to the value of your home and that at the time of death must either pay the remaining amounts and the house will become the property of the bank or return the amounts paid to date and remain heirs.
What are the requirements? Can it be cancelled?
The requirements are: that the person hiring is over 65 years of age, that he is his habitual residence, that he resides within the national territory, that the dwelling object of the mortgage has no burden, that the dwelling is owned by him and that there are heirs who take charge of the debt.
Who owns the house?
You are still the owner of the house, you could even rent it.
Is the customer obliged to return the quantities?
In this type of mortgage loan, the client does not have to return the amounts that the financial entity lends him, it will be the heirs in case they want to continue being owners of the house the ones that will have to pay the amounts lent to date, otherwise they will not have to pay any amount, with the consequence of losing the house.
Do you need to complete your retirement? Do you need to obtain more profitability without having to pay anything? In Llorente & Rayon we advise you on this type of mortgage, so you can get higher returns and continue to own your home.
Inside the types of testament that allows our classification one of the common mas is the so called holograph testament.
Of what does it consist?
The holograph testament is that one that it grants the testator, that is to say, needs neither notary, nor notary, to raise it to public writing, simply that demonstrates in a paper his last will.
In spite of the simplicity of this type of estates the law if it is required some requirements in order that it is valid, for example, that the testament is written by the testator, not neither by a third party nor relative, also demands that it dates the document with year, month and day in the one that grants it, it is required the adult age to grant it.
Other characteristics are that it is not necessary to take it neither to the record or which another person guards, he can be the own testator the one that guards it or also it can entrust to a third party that he it guards, in addition this type of testament also allows the foreigners who like that want to write it in his language, without it is going to harm his efficiency.
How much time has of validity?
At the maximum it must appear five years after the death of the testator and take it before the notary in order that it could take minutes.
From Llorente & Rayon in any doubt that you could arise on this topic and help you in all the steps.
Not always we can how to distribute our goods between the inheritors, know how to realize this operation of an efficient and simple way it is something fundamental. From Llorente & Rayon we help him in order that it could organize his testament or for any claim of inheritance.
What is it necessary to bear inheritance in mind?
The first thing that we must know is that when we realize the testament there are certain parts which one cannot have freely, the legitimate ones or also so called necessary inheritors compose it: 1. ° The children and descendants I concern of his parents and ascendancies. 2. ° For lack of the previous ones, the parents and ascendancies I concern of his children and descendants. 3. ° The widower or widow in the form and measure that establishes this Code.
There corresponds to these inheritors as minimum a third of the inheritance, which it can increase in another third more with the third of improvement and finally we have that of free disposition where we can have freely to administer it without any limitation.
Since we see it is a complex step, not only to organize the testament but to know that well versed are prepared to the succession and as being able to claim it.
From Llorente & Rayon in any doubt that him could arise on this topic and help him in all the steps of claim.