This is made possible through a legal principle known as Usufruct - an agreement by which you and your spouse retain the full rights to continue living in your home for life or as long as you want after you have sold it.

Usufruct is basically the legal right to use and enjoy a property that belongs to another person. This concept is commonly used in many European countries and is now also offered in Spain by New Day Properties. In addition to usufruct, our proposal includes a lifetime monthly pension that will increase your disposable income for life - and it is indexed!

The rising cost of living and the financial crisis that has affected a lot of people can make it hard to make do with your existing income streams (pension, investments, etc). Many people decide to downsize by selling their current property and moving into something smaller, but the property market may not be on your side, and a sharp reduction of the price may be necessary to dispose of your home quickly, leaving you with very little cash after fees, expenses and capital gains tax.

Exchanging the ownership of your property in return for a lifetime usufruct could allow you to circumvent the constraints described in the previous point - and remain in your own home. Moreover, it provides you with a lifetime monthly pension in addition to your existing income. You will also have the option of choosing a combination of initial lump sum and monthly pension. This initial cash payment could be used to meet some unexpected expense or to treat yourself to the cruise you have always dreamed of.

We call this combination of lifetime usufruct and pension income LUIS (Lifetime Usufruct and Income Solution). With LUIS, you will be able to enjoy your property even more: you will continue living in it and receive a monthly income that will help you improve your standard of living.

If you are younger than 72 and you would also like to sell your property and continue living in it, you might consider Little LUIS. With Little LUIS - Limited Usufruct and Income Solution-, the occupancy right and the pension are not for life, but for a pre-agreed limited period of time only. This period will vary between 5 and 10 years.

Little LUIS is available to property owners over 60 (some qualifications apply).