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What is Life Annuity Contract Overview about?

The document describes the life annuity contract, which is an agreement in which a person transfers the ownership of assets to another in exchange for periodic payments during the life of the annuitant. The contract must be formalized through a public deed and specify the transferred assets, the rent to be paid, and the guarantee to secure the payments. The contract ends with the death of the annuitant or due to the debtor

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