Sellers and investors: find the most frequent questions about viager. For a bespoke discussion, please get in touch.
A French property transaction in which the seller transfers ownership in exchange for an upfront payment (the bouquet) and a monthly life annuity. In occupied viager, the seller retains a lifetime right to live in the property.
The débirentier is the buyer of a property sold in viager. They pay the bouquet at signature and the monthly annuity for the life of the seller.
The crédirentier is the seller of a property in viager. They receive the bouquet and the annuity, and in occupied viager, keep a lifetime right of use and dwelling.
The bouquet is the lump-sum capital payment made at signature, before a French notary. It is freely negotiable between the parties and is one of the two financial components of the sale, alongside the monthly life annuity.
Yes. French law does not restrict viager purchases to French nationals. International buyers must sign at a French notary, who will guide them through the process. We routinely advise UK and US-based investors. The notary will explain the implications under French civil law, and we coordinate with your local tax adviser if needed.
For the seller, the bouquet is tax-exempt if the property is their principal residence. The annuity benefits from an allowance of up to 70 percent depending on the seller's age. For the buyer, wealth tax (IFI) is calculated on the bare ownership value, not the open-market value. See our dedicated taxation article for the full picture.
The buyer continues to pay the monthly annuity until the seller's death. This is the structural risk of viager and is reflected in the actuarial discount applied at signature. Buyers should view viager as a long-term patrimonial investment, not a short-term play.
The notarial deed includes a clause résolutoire (resolutory clause) that allows the seller to recover the property in the event of non-payment of the annuity. This makes viager structurally protective for the seller.
