Q. My father has left his villa in Spain to my brother and me but has left the life posseion “USUFRUCTO VITALICIO” in favour of his second wife (not our mother ). Her Spanish solicitor is asking us to go to Spain to sign the acceptance deed. What is all this about?
A. What your father has actually done is to make sure that his wife is able to continue living in the house as up to now, while making sure that the property eventually goes to you, as she will not be able to sell or mortgage it. All she can do is enjoy it and if she wishes rent it out.
Explaining if bluntly: While she is alive you will not have any access to the house and you will have to pay the rates every year but eventually when she dies you will become the owners.
If she is short of cash and you are not, to make a deal with her may not be a bad idea in exchange for her renouncing her life possession.
Life possession is worth more the younger you are.
I would recommend making a Spanish will because in practice (and even though you can not enjoy it ) you are the owner of a villa in Spain.
If she is younger than you and your brother, maybe it will be your children that enjoy the villa.
In any case your father has made sure that the villa remains in the family and has avoided her inheriting the villa which could have resulted in her leaving it to somebody else and your side of the family loosing out.
I have to admit that we use this system very often as one of the best way of providing security to spouses versus children from other marriages while securing their position also.
Your father when making the will was clearly looking to protect both parties and this in our opinion was the most logical way of doing it even though in this case her young age may result in you never enjoying the villa but you can make sure your own children do by leaving it to them in your will.
Life is not simple but your father clearly took advice and from the resulting will it is clear that he was trying to protect all parties.
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