usufruits

Usufruct is a legal right to use and enjoy the property of another, provided that the property is not damaged or destroyed. The term "usufruct" comes from the Latin words "usus" meaning use and "fructus" meaning fruit. A usufructuary, the person who holds the usufruct, has the right to take the fruits of the property, whether natural, industrial, or civil. This means they can benefit from crops, livestock, or rental income generated by the property.

The usufructuary is obligated to preserve the substance of the property and use it as a prudent administrator would. They cannot sell, alter, or fundamentally change the property. At the end of the usufruct, the property must be returned to the owner in the same condition it was received, allowing for normal wear and tear.

Usufructs are commonly established through wills or donations, often as a way for a spouse or heir to receive income from an asset while ensuring it eventually passes to another party, such as children. The duration of a usufruct can be for a specified period or for the lifetime of the usufructuary. Upon the death of the usufructuary or the expiration of the term, the usufruct is extinguished, and full ownership rights revert to the naked owner. Naked ownership refers to the owner's right to the property, which is temporarily diminished by the usufruct.