{"id":1398,"date":"2023-06-09T17:18:04","date_gmt":"2023-06-09T15:18:04","guid":{"rendered":"https:\/\/viager20.fr\/?page_id=44"},"modified":"2025-12-18T16:07:09","modified_gmt":"2025-12-18T14:07:09","slug":"principes-et-parametres-de-valorisation-equitable-des-viagers","status":"publish","type":"page","link":"https:\/\/viager20.com\/index.php\/principes-et-parametres-de-valorisation-equitable-des-viagers\/","title":{"rendered":"Principes de valorisation"},"content":{"rendered":"\n
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Certes, on peut acqu\u00e9rir un bien en viager sans estimer son co\u00fbt d’acquisition et faire tout de m\u00eame une tr\u00e8s bonne affaire. Mais, pourquoi ne pas mettre toutes les chances de son c\u00f4t\u00e9 en appliquant les principes d’une valorisation \u00e9quitable<\/strong> d’un viager ? <\/p>\n\n\n\n

Pour les plus courageux, ces principes sont d\u00e9crits ici<\/a> et l\u00e0<\/a>. Pour les autres, nous allons r\u00e9sumer leur logique et surtout d\u00e9crire leur mise en oeuvre.<\/p>\n\n\n\n

<\/div>\n\n\n\n

Quelques principes permettent de valoriser \u00e9quitablement un viager et de choisir les principaux param\u00e8tres de valorisation. <\/h1>\n<\/div><\/div>\n\n\n\n

Pour juger si l’on a une transaction \u00e9quitable<\/a> entre cr\u00e9direntier et d\u00e9birentier, il faut comprendre la nature d’un viager. C’est d’abord un mode de financement particulier de l’achat d’un bien, puisque le cr\u00e9direntier accorde un cr\u00e9dit-vendeur<\/a> au d\u00e9birentier. En \u00e9change, le cr\u00e9direntier b\u00e9n\u00e9ficie d’un usufruit \u00e9ventuel et d’une protection contre le risque de long\u00e9vit\u00e9<\/a>, avec une rente viag\u00e8re vers\u00e9e jusqu’\u00e0 sa mort.<\/p>\n\n\n\n

Au juste prix d’un viager, la somme du bouquet, de l’usufruit et de la rente correspond \u00e0 la valeur v\u00e9nale du bien. Si cette somme la d\u00e9passe, le d\u00e9birentier aurait int\u00e9r\u00eat \u00e0 opter pour une vente au comptant. Dans le cas contraire, il r\u00e9alise avec le viager une meilleure op\u00e9ration qu’en achetant le bien au comptant.<\/p>\n\n\n\n

Or les valeurs de la rente et de l’usufruit d\u00e9pendent en particulier de l’esp\u00e9rance de vie du cr\u00e9direntier et des taux d’int\u00e9r\u00eat.<\/p>\n\n\n\n

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Les param\u00e8tres cl\u00e9s de la valorisation en d\u00e9coulent donc :<\/p>\n\n\n\n

    \n
  1. La valeur v\u00e9nale du bien<\/strong>, dont l’\u00e9valuation est une \u00e9tape essentielle, comme lors d’une vente au comptant ;<\/li>\n\n\n\n
  2. Les revenus locatifs<\/a> attendus, nets des taxes et autres charges. La l\u00e9gislation impose \u00e0 l’usufruitier des r\u00e8gles d’entretien du bien plus strictes que pour un locataire et potentiellement co\u00fbteuses ;<\/li>\n\n\n\n
  3. La table de mortalit\u00e9<\/a> appropri\u00e9e refl\u00e8te les particularit\u00e9s des cr\u00e9direntiers, \u00e0 l’esp\u00e9rance de vie souvent \u00e9lev\u00e9e ;<\/li>\n\n\n\n
  4. Le taux d’int\u00e9r\u00eat r\u00e9el<\/a>, diff\u00e9rence entre le taux d’int\u00e9r\u00eat nominal \u00e0 long terme sur les obligations d’\u00c9tat et l’inflation attendue sur la dur\u00e9e du viager.<\/li>\n<\/ol>\n<\/div><\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n

    Valeur locative du bien ? Table de mortalit\u00e9 pour le cr\u00e9direntier ? Taux d’int\u00e9r\u00eat pour la rente ? Seul un choix pr\u00e9cis et adapt\u00e9 de ces param\u00e8tres assure une valorisation \u00e9quitable d’un viager.<\/p>\n<\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

    Certes, on peut acqu\u00e9rir un bien en viager sans estimer son co\u00fbt d’acquisition et faire tout de m\u00eame une tr\u00e8s bonne affaire. Mais, pourquoi ne pas mettre toutes les chances …<\/p>\n","protected":false},"author":1,"featured_media":112,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-fullwidth.php","meta":{"footnotes":""},"class_list":["post-1398","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"\nPrincipes de valorisation Principes et param\u00e8tres de valorisation<\/title>\n<meta name=\"description\" content=\"Une valorisation \u00e9quitable d'un viager suppose d'appliquer quelques principes et d'utiliser des param\u00e8tres appropri\u00e9s.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/viager20.com\/index.php\/principes-et-parametres-de-valorisation-equitable-des-viagers\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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