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The essence of a life sentence is, first of all, a claim for lifelong maintenance. You can read more about the annuity contract in this article. Annuity contract – issues discussed: Annuity contract – general issues Practical case law The moment of transfer of ownership of the property Change of life annuity to an annuity, termination of the contract And when can an annuity contract be considered ineffective? Annuity contract - summary Annuity contract – general issues Pursuant to the provisions of Art. of the Civil Code.

If, in exchange for the transfer of ownership of real estate, the buyer has undertaken to provide the seller with lifelong maintenance life annuity philippines photo editor agreement , the buyer should, in the absence of a different agreement, accept the seller as a household member, provide him with food, clothing, housing, light and fuel, provide him with appropriate assistance and nursing him in case of illness and arrange for him a funeral in accordance with local customs at your own expense.



If, in an annuity agreement, the purchaser of real estate has undertaken to encumber it for the benefit of the seller with usufruct, the exercise of which is limited to a part of the real estate, with a residential easement or other personal easement, or to provide repeated benefits in money or in items specified as to the type, usufruct, personal easement and the right to repeated benefits is part of the content of the life annuity right [cf. § ]; The life annuity can also be reserved for the benefit of a person close to the seller of the real estate.