Do you know what it means to be a usufructuary of a property?

There are big myths surrounding this subject. Today, at Unicasa & Home, we are going to try to shed some light on the subject for you.

The usufruct is a real right that allows the enjoyment of another's thing, in this case of a property that does not belong to you. 

The usufruct is a real right that allows the enjoyment of another's thing, in this case of a property that does not belong to you.

The CC defines this right in its article 467 as «the right to enjoy the property of others with the obligation to conserve its form and substance, unless the title of its constitution or the law authorises otherwise 

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The person who holds the ownership of the usufruct is called usufructuary and the person who holds the ownership of the property is the non-owner. 

The person who holds the ownership of the usufruct is called usufructuary and the person who holds the ownership of the property is the non-owner.

Characteristics: 

• The usufructuary is entitled to use and enjoy the property for the duration of the usufruct.

• The usufructuary is entitled to use and enjoy the property for the duration of the usufruct.

• The rents or profits generated during that time will be his property.

• The usufructuary is entitled to use and enjoy the property for the duration of the usufruct.

• The ownership of the property will always be the property of the joint owner, who may sell, encumber or improve the property, but always depending on what has been established between the parties.

• It is important to highlight that we are talking about a temporary real right, it can never be indefinite, it must always have an established duration. Although, unless specified, it is considered to be for life, so it is extinguished on death or by express waiver. 

• It is important to emphasise that we are talking about a real righttemporary, it can never be indefinite, it must always have a fixed duration.

Types of usufructs 

We speak of legal usufruct to refer to that which is constituted by legal provision. In this case, the one that occurs after the death of the spouse.

On the contrary, voluntary usufruct arises when someone establishes it without legal imperative. It is the one by which a title of constitution is drafted under which the guidelines to be followed are established.

Lastly, it is important to talk about the susufruct by usucapión. In this case there is no third party who has transferred the property, as in the previous ones, but the owner is considered to be the one who has remained in the property for a certain period of time. 

In this case, the owner is the one who has remained in the property for a certain period of time.

As we have already mentioned before, there are temporary or life usufructs, the important thing is that all of them have a term and are not considered indefinite.

The temporary usufructs are those with an established expiry date, as a general rule from the moment of their constitution; on the other hand, lifetime is the right to enjoy for life a property belonging to others and is extinguished only by death or by express renunciation of this. 

The lifetime usufructs are those with an established expiry date, as a general rule from the moment of their constitution; on the other hand, lifetime is the right to enjoy for life a property belonging to others and is extinguished only by death or by express renunciation of this.

If you have any doubts, please contact us.

If you have any questions, please contact us.