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    By Fact Checked by Reviewed By: Usufruct

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    Nonoy D Voloso

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    By Fact Checked by Reviewed By: Usufruct

    Uploaded by

    Nonoy D Voloso
    20 views1 page

    Original Title

    Usufruct

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    By Fact Checked by Reviewed By: Usufruct

    Uploaded by

    Nonoy D Voloso

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    USUFRUCT

    By 
    WILL KENTON
    Fact checked by 
    AMANDA JACKSON
    Reviewed by 
    GORDON SCOTT
     

    on April 02, 2021

    What Is a Usufruct?

    A usufruct is a legal right accorded to a person or party that confers the temporary right to use
    and derive income or benefit from someone else's property. It is a limited real right that can be
    found in many mixed and civil law jurisdictions. A usufructuary is the person holding the property
    by usufruct.

    A usufruct combines the two property rights of usus and fructus. Usus refers to the right to use
    something directly without damaging or altering it, and fructus refers to the right to enjoy the
    fruits of the property being used—that is, to profit from the real property by leasing it, selling
    crops produced by it, charging admission to it, or similar.

    Usufruct is usually conferred for a limited time period. It can be granted to the usufructuary, or
    person holding usufruct, as a way to look after property until the death of a property owner and
    the estate can be settled if the property owner is in ill health. While the usufructuary has the
    right to use the property, they cannot damage or destroy it or dispose of the property. A
    usufructuary does not have full ownership of the property, because they do not enjoy the third
    property right, abusus, which refers to the right to consume, destroy, or transfer ownership of
    the property to someone else.

    How a Usufruct Works

    In usufruct, a person or group has the right to use the property of another. They do not own it
    but have a contractually sanctioned interest in it. There are two types of usufruct: perfect and
    imperfect. In perfect usufruct, the usufructuary can use the property, and can profit from it, but
    cannot change it in a substantial way. For example, if the owner of a business becomes
    incapacitated and gives usufruct to a relative to run the business for him or her, the usufructuary
    can run the business, but can’t sell it or tear down the building and rebuild it. In an imperfect
    usufruct system, the usufructuary does have some power to alter the property, such as when a
    landowner grants usufruct to a piece of land for agricultural use. The usufructuary may have the
    right to produce crops from the land and to make improvements to the land that would aid in that
    endeavor. However, the usufructuary does not own these improvements; when the usufruct
    ends, they belong to the original owner or to his or her estate.

    Usufruct is only recognized in a few jurisdictions in North America, such as Louisiana. As an


    example, if a party has a usufruct in a real estate property, they have the full right to use it or
    rent it out and collect the rental income without sharing it with the actual owner, as long as the
    usufruct is in effect.

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