Quote:
Originally Posted by sabres
Luis, thank you for your reply. Do I understand correctly that if I purchase a Portugal property and want my two children to be registered on the title as owners with me enjoying a usufruto, then even though I originally purchased the property, once my children are on title then I cannot sell the property if I wanted? Only they can? Thank you.
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Hi sabres!
In my family we have a similar case.
My mother has "usufruto" and my sister has "raiz" of a flat in lisbon, the situation is the following:
_ if my sister and my mother agree to sell they both have to sign the "escritura publica"
_if my sister wants to sell and my mother does not , then my sister can only sell the "raiz" and the person that buys the flat will not have access to the flat because the "usufruto" belongs to my mother.
_the value of the "usufruto" is not constant, depending on the age of the owner of the "usufruto
_the value of the property is the value of the "usofruto" + the value of the "raiz"
In your case if your childreen are not yet 18 years old then you rather see a lawyer
Best regards
luis
Quinta dos Casais