The term usufruct has never found its place in English common law, although some general similarities can be found in the concept of homologation at common law. Modern civil law systems distinguish between two types of usufruct. Perfect usufruct includes only things that a usufructuary (someone who owns property under usufruct) can use without altering its substance, such as land, buildings or movable property; However, the substance of the property can be naturally altered over time and by the elements. Quasi or imperfect usufruct includes consumable or dispensable goods, such as money, agricultural products and the like, which would have no advantage for the usufructuary if he could not consume, consume or modify their substance. Philippine law on usufruct is primarily set forth in Title VI of the Philippine Civil Code. [13] A life annuity, by which a usufruct is known under Scots law, is the right to receive the benefits of property or other asset for life without the right to dispose of the property or asset. A person who enjoys this right is called a life annuity. The owner of an asset subject to usufruct is called a fiar and the right of ownership is called a royalty. Unless it is an imperfect or quasi-usufructuary agreement, the recipient may not sell or dispose of the items under discussion without the consent of the naked owner. However, you may obtain the right to sell in certain circumstances that expressly require it. Simply put, without the concept of usufruct, the law of forced inheritance would mean that the surviving spouse would lose the right to remain in full possession of the family home, since the forced heir would hold 25% of the deceased spouse`s interest and could then force a sale of the house, forcing the surviving spouse to move.
As we have seen, usufruct allows the surviving spouse to remain quiet in the home. The usufructuary is the person who has the privilege or right to use the property of another person. Therefore, they can also enjoy the benefits it brings. On the other hand, the naked owner is the person or party who owns the property but has waived the rights to the usufruct. Once the usufruct is completed, the naked owner regains control of the property, and the profits are also returned. In Thailand, the Commercial and Civil Code is based on the European Civil Code and recognizes the notion of usufruct in clauses 1417 to 1428. The usufruct can be for life or for a maximum of 30 years according to the law. It must be registered with the local land authority to have full effect on third parties, on the Nor Sor Sam title deed or higher. The Ministry of Lands in Thailand will use its own forms and contracts. However, the parties may enter into their own agreements. A usufruct contract in Thai and English can be found here, payment of fees for download. The usufruct unites the two property rights, namely Usus and Fructus.
The right is often valid for the life of the beneficiary and may include several types of real estate. The person to whom the law grants the right is called usufructuary. The usufructuary is the person who owns the usufruct. So what does it mean to have the usufruct of the property? If you look at the Latin root of the word “usufruct”, it helps you understand what rights a usufructuary has when granted. The usufruct comes from the Latin terms: Usus: means use and fructus means fruit (rent and income). Thus, usufruct gives the usufructuary the right to use and possess the property (custom), and he can also derive income from the property subject to usufruct (fructus). The usufruct of one of the spouses can be for life or end at the time of remarriage. The right to use and enjoy the property of others is a usufruct. For example, it is the legal right to profit from someone else`s property.
Usufruct comes from civil law, according to which it is a subordinate right in rem (ius in re aliena) of limited duration, usually for the life of a person. The holder of a usufruct, known as usufruct, has the right to use the property (usus) and to enjoy it (fructus). In modern terms, fructus corresponds more or less to the profit that can be made, such as selling the “fruits” (literally and figuratively) of the land or renting a house. The usufruct was revived as part of the agricultural change associated with the special period of Cuba. As a legacy of sanctions and a struggling economy, Cuba has amassed many crumbling buildings that cannot be repaired. These were demolished and the empty land lay fallow for years until food shortages forced Cuban citizens to use every plot of land. Initially, it was an ad hoc process in which ordinary Cubans took the initiative to grow their own food on every available plot of land. The lease but not the ownership was formalized with a legal framework that used usufruct to give farmers rights on a profit-sharing basis on products made from the land, but no ownership rights over the land itself. [14] [15] Ancient examples of usufruct are found in the Codex of Hammurabi and the Law of Moses. The law of Moses commanded landowners not to harvest the edges of their fields and reserved the harvest for the poor. [6] When Mom dies, the usufruct is removed and Jane owns the entire account, which was called the usufruct account. Only the account in Mom`s name would go to Frank.
Doing this way makes accounting much easier. Mom can still access and use the 500,000 in the usufruct account, and her heirs would still be subject to potential usufruct accounting, but setting up the accounts in this way will make it easier to understand after mom`s death. Thomas Jefferson wrote in 1789 that “the earth, in usufruct, belongs to the living.” Jefferson`s metaphor means that human beings, like usufructuaries, have the right to use the land for their own benefit and to profit from it. Jefferson`s use of the word “living” is crucial here: he meant that the usufructuaries of the world are those who live, not the previous generations who died. This idea would profoundly influence Jefferson throughout his life, leading him to recognize that the Constitution of the United States would be revised by future generations, and this is partly why the Constitution contains a provision for its own amendment. [7] I am often asked why Louisiana has the concept of usufruct in the first place. I believe it`s because of our unique forced inheritance law in Louisiana. Community policy, economic and social cohesion, economic and social cohesion, economic and social cohesion The right to enjoy one thing belonging to another and to derive from it all the profit, benefit and advantage it may generate, provided that this is done without changing the essence of the thing. 2. However, the obligation not to alter the content of the thing exists only in the case of complete usufruct.
3. There are two types of usufruct; Perfect and imperfect. A perfect usufruct, i.e. things which the usufructuary can enjoy without altering its substance, although their substance may be naturally diminished or deteriorated by time or by the purpose for which they are used; such as a house, land, animals, furniture and other moving effects. Imperfect or quasi-usufructuary, these are things that would be useless to the usufructuary if he did not consume them and consume them or change their substance, such as money, cereals, spirits. Civil Code by Louis. 525 et seq.; 1 Browne`s Civ. Law, at page 184; Poth. Tr. du Douaire, no. 194; Ayl. Pand.
319; Poth. Pand. Tom. 6, p. 91; Lecons El. Dr. Civ. Rom. 414 Inst. lib.
2, T. 4; Dig. free. 7, T. 1, 1. 1 Code, lib. 3, t. 33; 1 bouv. Inst. Theolo. p. 1, c.
1, art. 2, p. 76. Usufruct is usually granted for a limited period. It can be given to the usufructuary or the person who owns a usufruct as a means of taking care of the property until the death of the owner and that the property can be settled if the owner is ill. Although the usufructuary has the right to use the house, it cannot be damaged, destroyed or disposed of. Although the United States is largely a common law jurisdiction that recognizes life assets instead of usufruct, Louisiana is a civil jurisdiction that specifically follows the French and Spanish models. In Louisiana, rights of usufruct are generally created in the same way as other real rights, by gift (“donation”), will (“will”) or by law. Nevertheless, they are generally granted for life. Unless otherwise provided in a will, the share of the joint property reverts to the descendants as simple title holders (“naked owners”); However, if that person has a surviving spouse, the latter will have usufruct in that part of the estate until death or remarriage (La. Civil Code, art. 890).
Under certain other conditions, a usufruct may arise which confers rights on the parents of that person. [8] In France, usufruct applies to successions. Under French law, an inalienable share known as compulsory succession passes to the surviving spouse of the deceased and issues (with shares divided according to the number of children), while the rest of the estate – the free estate – can freely dispose of it by will. However, the surviving spouse may choose to distribute the compulsory succession as is, or to convert it into usufruct, or to divide the estate into a distributable part and a usufruct asset for the life of the children.