No its not a new technique Greenwich agents are using to entice sales, but it is something increasingly fashionable in Italy. Property rich, cash poor senior Italians sell their homes but retain right to live in them until they (the homeowner) dies. These types of sales have more than doubled over the last year to 40,000 in 2008.
To each his own, but I wouldn't be comfortable waiting and wishing for someone to die inorder to occupy my new home. But then nothing like a good crisis to focus the mind and generate new solutions to what I expect is a growing issue--property rich, cash poor seniors seeking to live-out their final days in their homes and not in "assisted living facilities".
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