Usufruct and right of residence: what are the differences?
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My wife (61) and I (62) want to give our house to our son as a gift, but continue to live in the property. We heard of usufruct and right of residence. What are the differences, which solution is better for us? How do we have to proceed?
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Some parents give their house to their children at an early age, but keep a lifelong usufruct or right of residence for themselves. With both variants, the property becomes the property of the children and the parents can continue to live in the house.
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