USUFRUCT Meaning and
Definition
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Usufruct is a legal term that refers to the right of enjoying and using someone else's property or assets without actually owning it. It is a limited and temporary right established by law or agreement. The concept of usufruct allows an individual or entity, known as the usufructuary, to possess and utilize the property, including receiving any benefits or profits it may generate, as if it were their own, while the legal ownership remains with another party.
In the context of real estate, usufruct is often granted for a specific period of time and may be used for various purposes, such as residential, agricultural, or commercial activities. However, it does not confer the right to permanently alter or sell the property. The usufructuary is obligated to ensure the property's preservation and timely return it to the owner once the term of usufruct comes to an end.
Usufruct has historical origins and has been recognized in legal systems across the world. It is commonly found in civil law jurisdictions, where it serves to balance the interests of both the owner and the user of the property. The term usufruct stems from Latin, derived from "usus" (use) and "fructus" (fruits or profits), reflecting the essence of the right of enjoying another's property's benefits.
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The right of using and enjoying the profits of a thing belonging to another without impairing the substance.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for USUFRUCT
- ysufruct
- hsufruct
- jsufruct
- isufruct
- 8sufruct
- 7sufruct
- uaufruct
- uzufruct
- uxufruct
- udufruct
- ueufruct
- uwufruct
- usyfruct
- ushfruct
- usjfruct
- usifruct
- us8fruct
- us7fruct
- usudruct
- usufruact
- usufracs
- usufrac
Etymology of USUFRUCT
The word usufruct is derived from the Latin phrase usus et fructus, which literally means use and enjoyment.
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