Real estate ownership titles have two separate and legally recognized components: Usufruct and Nuda property.
Usufruct provides the legal rights to live and enjoy rents from the property, whereas Nuda property covers all other ownership rights. Each of those two titles can be sold and purchased separately.
A very common example of usufructs are rentals: When someone rents an apartment, they are temporarily acquiring the right of usufruct, while Nuda propiedad stays with the land-lord. In our case, the Usufruct stays with the elder, and the title of the home moves fully to the buyer.
Nuda propiedad is sometimes translated as "bear property" or "nude property". It is everything but the usufruct.