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Property DetailsIn the heart of Milan, a short walk from the streets of Brera, the Park, and the exclusive fashion district, a charming house of 95 square meters, enhanced by a long terrace of ??26sqm which surround it, is a unique investment opportunity through 'purchase of BARE OWNERSHIP’. The house is on the third floor, in the quiet inner body of a historic building. The entrance reveals the delightful and romantic living room with exposed beams, fireplace and access to the terrace. Next is the dining room where the functional semi eat-in kitchen takes body, partially visible. The sleeping area, introduced by a corridor, consists finally of two bedrooms, both overlooking the terrace and served by a bathroom with bathtub. On the fourth floor, complete a large garret of 18sqm in excellent condition with window. Independent heating system. The historic building has a doorman and lift. MM3 Turati at 100m, Park Indro Montanelli at Porta Venezia at 250mt.Ace G - 247.9.€ 580.000,00 FOR THE BARE OWNERSHIPWhat does it mean to buy the bare ownership?It means buying a property today but have no right to live there as long as the tenant (the one from which the bare ownership is acquired and who inhabits the apartment) is alive. The bare ownership is the value of the property minus the value of the usufruct.What advantage in acquiring the bare ownership?The main benefit is to purchase a property at current prices with a substantial discount determined by applying a coefficient that is based on the age of the Dweller (tenant). The youngest the tenant is, the greater the lowering and therefore the coefficient of discount applied. Meanwhile the usufructuary is alive, the bare owner can count on the fact that the value of the house increases following the market value and, in the case of resale of the bare ownership, it is reevaluated thanks to the advancement of the tenant’s age, which will see it applied a lower discount.How to calculate the selling price?We proceed to a market valuation of the apartment done by a professional to which is applied a coefficient taken from a table that is drawn up periodically by the Ministry of Finance and is based on statistics about life expectancy in Italy and on the interest rate law.Who pays the Imu (Combined Municipal Property Tax)?The holder of the single bare ownership has no tax liability. All taxes, in fact, are the responsibility of those who have real rights, namely the usufructuary. So also the IMU is due by the usufructuary and not by the bare owner. Generally the cost of normal maintenance of the property shall be borne by the usufructuary (custody, administration, general maintenance). The usufructuary is required to maintain the property in good condition, not damaging it or modify it without the knowledge of the legal owner. Extraordinary expenses are charged to the bare owner.When are you buying full ownership?When the tenant will no longer be alive, the bare ownership joins in full ownership and property comes fully available to the bare owner.
Additional Property InformationThis condo listing located at Largo Donegani, Apartment, Milano boasts two bedrooms and one bathroom. The property is presently availible at $630,573.
This property is listed by Giorgio Viganò Real Estate based in Italy.