Usufruct

Usufruct,

Definition of Usufruct:

  1. 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.

  2. 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.

  3. The legal right to use and/or derive income or other benefits from the property of someone else. The condition for this situation is that the property cannot be damaged in any way. This legal right is not recognized in many locations.

Meaning of Usufruct & Usufruct Definition