Google trend - Usufructuario

Usufructuario - 10 things to know with detail

• Definition: A usufructuario is a person who has the right to use and enjoy the property of another person, known as the bare owner, for a specified period of time or until their death.
• Rights of Usufructuary: The usufructuary has the right to possess, use, and enjoy the property, including any income or profits generated by it, as long as they do not damage or destroy the property.
• Obligations of Usufructuary: The usufructuary is responsible for maintaining the property in good condition and must return it to the bare owner in the same condition as it was received, except for normal wear and tear.
• Duration of Usufruct: The usufruct can be established for a specific period of time, such as a number of years, or for the lifetime of the usufructuary. It can also be established for a specific purpose, such as the right to use a vacation home during the summer months.
• Transferability: The right of usufruct can be transferred or assigned to another person, known as the substitute usufructuary, with the consent of the bare owner.
• Limitations: The usufructuary is not allowed to make any permanent alterations to the property without the consent of the bare owner. They are also not allowed to lease or sublet the property without permission.
• Income and Expenses: The usufructuary is entitled to any income or profits generated by the property during the usufruct period, but they are also responsible for any expenses related to the property, such as taxes, insurance, and maintenance costs.
• Termination: The usufruct can be terminated by mutual agreement between the bare owner and the usufructuary, by the death of the usufructuary, or by expiration of the specified period of time.
• Rights of Bare Owner: The bare owner retains ownership of the property and has the right to sell or dispose of it as they see fit, subject to the rights of the usufructuary.
• Legal Protection: The rights and obligations of the usufructuary are typically outlined in a legal document, such as a usufruct agreement, to ensure that both parties understand their rights and responsibilities.