Buyer Beware (thing)
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Buying flats by offering to pay [a set monthly fee] to elderly people for the remainder of their life for property (called en viager, meaning â€śfor lifeâ€ť) is common in [France]. The elderly owner enjoys a monthly income from the buyer, who in turn gets [a real-estate bargain] â€“ providing the owner [dies sooner than later].
Andre-Francois Raffray thought that he had closed [a great deal] 32 years ago: he would pay a 90-year-old woman $625 a month until she [died], then move into her flat in the French town of Arles. But in December 1995 it was Raffray who died, having paid more than $230,000.
Extract from [Readerâ€™s Digest] â€“ May 1997