Examples of Usufruct

The usufruct It is a real right to enjoy something that belongs to someone else, without having the right to alter its substance. This means that you cannot sell it. The holder of the usufruct is not the owner but the one who has a possession. For example: life usufruct, voluntary usufruct, legal usufruct.

This means that without having ownership of something, the beneficiary of the usufruct can obtain benefits and make use of that right.

The usufruct represents a temporary dismemberment of the domain. The owner only retains the right to dispose of his property, but does not benefit from it.

The usufruct arose with the roman law. The objective was to allow the widow to have a means of support from the profits obtained from her husband’s properties without affecting the inheritance of her children.

When a usufruct is made, the usufructuary must make a inventory of goods, appraise them, and present a guarantee that allows repairing the loss or deterioration of the goods. The usufructuary must also pay all the costs of conservation, maintenance and ordinary repairs that are necessary, as well as taxes.

When does a usufruct end?

Examples of usufruct

  1. Usufruct for life. Gives the right to use and benefit from an asset until the death of the usufructuary.
    Example: a widow can use the profits of a company that had been owned by her husband and is now owned by her children.
  1. Usufruct of real estate. It allows you to enjoy goods that have a fixed situation, that is, they cannot be displaced. They usually refer to houses, land, land, apartments, factories, commercial premises. Example: a house can be made usufruct by living in it or renting it, but it cannot be sold.
  1. voluntary usufruct. They are constituted by the will of the parties.
    Example: if a contract is signed for a farmer to cultivate land owned by another and sell or consume their products.
  1. legal usufruct. Established by legal provision.
    Example: if the legislation of a country determines that every widow or widower will enjoy life usufruct of the property of the spouse.

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