BARE OWNERSHIP - WHAT IS IT?

The property belongs to a specific person who does not have possession or use of it.

Therefore, it implies ownership of the real estate, although it does not include the right of usufruct, which belongs to the usufructuary until their death or when the period determined for the usufruct ends.

Is it possible to sell a Bare Ownership?

Yes, it is possible. The owner has the power to transfer the bare ownership through a sale or donation, and the power to use it as collateral, for example, in a bank loan.

What are the rights of the Bare Owner?

The bare owner has rights over the property and can sell it; however, the buyer will only acquire the bare ownership of the real estate. In other words, the sale does not annul the existence of the right of usufruct, which only ceases with the death of the usufructuary or the end of the period established for the duration of the usufruct.

What are the duties of the Bare Owner?

To carry out necessary major repairs and improvements to the property. For example: ruptures in internal and external water and sewage pipes, construction defects, and similar issues.