In a peculiar turn of events, a woman’s purchase of an apartment in a small town has come with an unusual caveat — the previous owner, a 96-year-old woman, must pass away before she can take possession. The buyer, who remains unnamed, acquired the apartment situated in the northeastern Spanish town of Puigcerdà for €70,000. However, the deal includes a clause stipulating that the seller can continue to reside in the property until her death. This arrangement, known as a “viager,” is a real estate transaction common in France and occasionally seen in other countries.

The concept of a viager entails the buyer making an initial payment, followed by monthly installments to the seller until their death, at which point the property transfers fully to the buyer. This arrangement carries both financial risks and rewards for the parties involved. While the buyer benefits from a potentially discounted purchase price, they also face the uncertainty of when the property will become theirs. Conversely, the seller gains financial security through regular payments but must relinquish ownership upon their passing.

When approached for comment, legal experts noted that viager transactions can present complex legal considerations, particularly regarding the valuation of the property and the age and life expectancy of the seller. Such arrangements require meticulous contractual drafting to ensure the rights and obligations of both parties are clearly defined and legally binding. Despite the unusual nature of this apartment purchase, it underscores the variety of real estate practices that exist globally and the intricacies involved in property transactions.

As the elderly seller continues to reside in the apartment, the buyer awaits the eventual transfer of ownership, highlighting the patience and foresight required in such unique real estate agreements. The circumstances surrounding this purchase serve as a reminder of the diverse methods by which individuals navigate property transactions, showcasing the nuances of the real estate market beyond conventional sales. The unfolding situation in Puigcerdà sheds light on the complexities and nuances of real estate practices, offering a glimpse into the unconventional yet legally permissible arrangements that exist within the industry.