Usufruct is the right to enjoy someone else’s property. That is, the usufructuary can use a property even though they are not the owner of it.

FacturaDirecta is the best way to keep your small business invoicing up to date. If you are self-employed or have an SME Start free now. Create an account.

Usufruct of a good can be obtained in 3 ways:

1. By contract: A private usufruct contract can be made between individuals. For example, a family member can give another the usufruct of a property, so that they live in it for example although the owner remains him or another person.
2. By prescription: If someone uses a good that is not theirs for a certain time they have the right to usufruct. This time is six years if the good is movable and 30 if it is real estate.
3. By law: This case often occurs in inheritance cases to protect widowers/widows without leaving property heirs defenseless. That is, widowers/widows have the usufruct of some goods but the property belongs to the heirs.

Duties and rights of the usufructuary

The usufructuary has the duty to:

• Properly preserve the good and give it normal use.
• Face the expenses of conservation, maintenance and ordinary repairs that the good requires.
• Make an inventory of what it produces (if applicable).
• Properly communicate to the owner, the urgent repairs that must be paid.
• Pay the charges and taxes that burden the use of the thing such as, for example, the Real Estate Tax.
• Inform the owner if actions are taking place that may harm the property right.
• Stop enjoying the good if the term of the contract arrives or the conditions of it are not met.

On the contrary, the usufructuary has the right to use the good and also, if applicable, to enjoy the products that this good produces.

Termination of usufruct:

The most common cause of the end of usufruct is the death of the usufructuary.

But there are also other cases such as:

• The termination of the usufruct contract.
• The loss of property by the owner.
• The prescription of the usufruct contract because the usufructuary did not use the good during the time indicated by law.
• The renunciation by the usufructuary.
• That the usufructuary becomes owner of the property because they buy the property.

Usufruct can be made in favor of one person or several. It can be a community usufruct (all will enjoy the good at the same time), a successive usufruct (first some people will enjoy the good and then others) or even of a legal person (with a maximum duration of 30 years).

If the duration of the usufruct is not limited, it will last as long as the person beneficiary of it lives.

We hope this information is very useful to you.