One Answer To Equity Release?

[ToraToraTora]

http://www.bbc.co.uk/news/magazine-33326787
Could the viager system work here do you think? Anyone know of any outfit offering this system?

[Svejk]

One woman sold her house to the local doctor when she was c60. She outlived him, died when she was 134(I think)
I thought we already had such schemes here?

[Svejk]

Mrs. Calment left no heirs. She also outlived Andre-Francois Raffray, a lawyer who 32 years ago, when she was merely 90, bought the apartment she used to live in on a contingency contract. He would pay her 2,500 francs (now about $400) a month until she died, and then the apartment would become his.

Mr. Raffray died a year ago at 77, after paying Mrs. Calment more than $180,000, better than double the apartment's market value. His family was still paying when she died.

''In life, one sometimes makes bad deals,'' Mrs. Calment said

[EDDIE51]

You can sell you home and rent it back. But this is particular to French law.

[ToraToraTora]

yes eddie but It's not illegal, I just wondered if it was beng offered aywhere. Sounds like a good scheme with many pensioners asset rich and cash poor, so much better than the rip off "equity release" schemes about.