|
A
reversion property is a property purchased from a retired
homeowner at a highly discounted price. The vendors release
equity from their properties usually without moving out in
order to receive additional income to supplement their
pensions. The buyer pays an initial lump sum, which
represents a small fraction of the property’s market value
as well as in most cases, a lifetime income called annuity.
When the vendor passes away, the property reverts to the
buyer.
[more details] |
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