The support and life annuity agreement is a solution for situations where the legator does not wish his or her heirs to inherit the ownership rights of for example his/her real estate, and furthermore, wishes to make sure that they do not even receive the legitimate portion from it.
The support and life annuity agreement is a legal document entered into and signed by the legator and the other party of the agreement at the lawyer.
After signing, the agreement will be entered into the property records, where the supporting party of the agreement will be registered as the owner of the property, whilst for the legator, an annuity right will be registered.
Through this agreement, the legator can live in the property until the end of his/her life, while the supporter will be obliged to either pay an annuity fee to the legator every month, or if s/he needs so, supports him/her completely, and buries him/her respectfully. I
n case the legator dies, the registered support right can be requested to be deleted from the property records after handing in the death certificate.