usufruct


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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 2004 Law provides that a non-Qatari's usufruct right will not be recognised unless such right has been registered.
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).
On account of limited supply of freehold and usufruct lands which allow purchasing by international investors, the majority of lands available for sale are in non-freehold areas.
CAUSES AND EFFEFCTS OF THE 2010 REVISION TO THE LAW OF USUFRUCT
They will also take notice of usufruct and traditional rights of the people.
LN), has received the Gdansk W concession for oil and gas reconnaissance and exploration and the mining usufruct contract.
THE UNUSUAL term usufruct comes from the Latin words usus and fructus, meaning "use" and "fruit.
56] While some theorists argue that there are no bounds on an occupier's right to usufruct other than a commitment to prevent the destruction of the property, [57] it is generally accepted that the principle of usufruct entails only the "normal use" of the property.
The Indian tradition of corporate, usufruct land holding also clashed with English traditions of personal privatization and made economic success difficult.
12) The right of usufruct was normally given by legacy (e.
Decedent's estate denied prior transfer tax credit for usufruct In Carter,(128) the decedent and his spouse were killed in an automobile accident.
According to Galvan, this might include the rewriting of building codes, better design in affordable housing and the creative use of old concepts like usufruct, where the city is allowed to assume temporary ownership of a residence to fix it up and lease it out.