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Simple English definitions for legal terms
viagère rente
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A quick definition of viagère rente:
A viagère rente is a type of payment that someone receives for their entire life. It is like an allowance that is given to them regularly. This type of payment is often used in French law. It can also refer to the interest paid by the French government on their debt. A rentier is someone who receives this type of payment or makes a living off of income from property or investments.
A more thorough explanation:
Viagère rente is a French term that refers to a type of rent charge or annuity that is payable for life. It is also known as a life interest or annuity.
For example, if someone purchases a viagère rente, they would receive a regular income for the rest of their life. This income is usually paid out in installments and is based on the initial investment amount and the person's life expectancy.
In French law, viagère rente is one type of rente, which is a broader term that can refer to annual income or rent, including rente foncière (ground rent) and interest paid on government debt.
Overall, viagère rente is a way for individuals to receive a steady income stream throughout their lifetime, which can be useful for retirement planning or other financial goals.