What is usufruct?

It is a real right of use or enjoyment of another's property. The person holding the usufruct is merely a holder with respect to the thing but not its owner or possessor; that is, he or she has the use or enjoyment of the thing but not the ownership.

He or she may use and enjoy it, obtain its fruits or yields, whether in kind or in money, but may not freely dispose of it because he or she does not have the right of ownership of such property. Therefore, the holder of the usufruct (usufructuary) cannot alienate or diminish the value of the property since he or she does not own it. The right of usufruct is limited in time (not indefinite).


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