Nuda propiedad

Ownership of a property without the right to use or enjoy it: that right — the usufruct — belongs to someone else. The bare owner is the owner, may sell or mortgage their right, but cannot move in or collect rent while the usufruct exists. It is the key piece of an increasingly common operation: an elderly owner sells the bare ownership of their home, gets paid today (lump sum or annuity) and keeps a life usufruct to go on living there until the end. The price is calculated by deducting the value of the usufruct, which depends on the seller's age (for tax purposes, 89 minus their age, as a percentage). When the usufructuary dies, the bare owner automatically consolidates full ownership, settling at that point the tax on the usufruct part.