usufruct


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Related to usufruct: usufructuary

usufruct

the right of use of another's property without destroying or consuming that property. The concept derives from ROMAN LAW, and is in general use in the social sciences to designate property relations whereby either property ownership, particularly in land, is not established within a society, or where use rather than ownership may be the most important aspect of property relations.

Usufruct

 

in ancient Rome, the right held by one person to use property belonging to another and to enjoy the benefits and profits derived therefrom, without, however, changing the substance of such property. Usufruct was a type of personal servitude established for the use of an individual, either for life or for a designated period, without the right of alienation or transfer through inheritance. Widely practiced during the Middle Ages, usufruct became common in bourgeois law, as in France; it was usually regarded as an independent real right.

References in periodicals archive ?
The Law also restricts a freehold owner from dealing with land that is subject to Musataha or usufruct rights.
In an earlier statement, the Governor of South Sinai, Khaled Fouda, stressed that any investor who wants to build a solar power plant in the governorate will receive the land using the system of usufruct in exchange for 2% of the value of energy produced annually.
Usufruct may be constituted: (a) by law, as in MSBFI's case; (b) by agreement: (c) in a last will and testament; and (d) by prescription.
As per the agreement, Al-Khonji Real Estate & Development LLC "AQAR" was granted the usufruct right to develop a land area of approximately 661 thousand square meters to construct a touristic and real estate project to be executed in numerous phases, in consideration of a total approximate cost of RO 390 million, and it is expected that the project will create almost 4,000 direct jobs when the project gets completed in 2019, according to Oman News Agency (ONA).
Qatar has limited areas which are marked under freehold and 'usufruct' status, which is a right of enjoyment.
3 of 2006 specifying the areas where non-UAE nationals may own real estate properties in Dubai and its amendments, non-citizens are allowed to acquire the usufruct right (life interest) for a period not exceeding 85 years for property located on piece of land No.
Pedro Olivera, director of the National Center for Control of the Land, told reporters that 922,000 hectares have been turned over in usufruct so far.
881 of the 2010 Regular Legislative Session of Louisiana adopted a comprehensive revision of the Louisiana Civil Code provisions on the law of usufruct, which are found in articles 535 through 629 of the Louisiana Civil Code.
"Bin Talal has agreed on the new terms made by the Egyptian Government, selling 10,000 feddans and another 15,000 feddans in usufruct," Mohamed Gamal Eddin, a legal advisor to the Kingdom Agricultural Development Company (KADCO).
They will also take notice of usufruct and traditional rights of the people.
Zoo (Oculis Investments), a subsidiary of San Leon Energy PLC (San Leon Energy) (SLE.LN), has received the Gdansk W concession for oil and gas reconnaissance and exploration and the mining usufruct contract.
Lewensreg ("Life interest or usufruct", but also "right to life" in a metaphoric sense) is a play about dying and was performed by the University of the Free State Drama Department at the ABSA KKNK in Oudtshoorn in 2007 as part of a competition entitled the Sanlam-prys vir Afrikaanse Teater ("Sanlam Prize for Afrikaans Theatre").