Legal Question in Real Estate Law in Florida
lifetime usufruct on an aparment
we are italian citizens and resident in Italy. We are buyng an apartment in Florida. we would buy it on our son's name, keeping for us (the parents) the usufruct on both of us. Is it possible to make this deal in the same time we make the closing?
2 Answers from Attorneys
Re: lifetime usufruct on an aparment
Did you post earlier when I answered saying that usufructs are not available under American law? In the U.S., we follow the English system, not the Napoleonic/Roman system.
Anyway, if I understand what you want, it is possible under Florida law, but you might have to do things a little differently. Speak to a Florida real estate lawyer and describe exactly what you need. Skip the term, "usufruct," which most American lawyers won't recognize.
Re: lifetime usufruct on an aparment
Yes. But first consult with counsel so all facts are known. If you wish to contact me directly write to [email protected]
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