Usufruct Agreement Meaning

The term can also simply refer to the right to enjoy or use something. This article focuses on the meaning of the term when referring to a person`s right to use another person`s property. With the meaning of “right to use someone else`s property without damaging it,” the term appeared as “Usufructuary” in the 1610s. Encyclopedia Articles on usufruct 1. Usufruct is not finished or removed by misuse2. The usufruit is required to carry out ordinary repairs as part of careful care and to inform the owner of the urgency of exceptional repairs and any act that may prove detrimental to the ownership of section 594. If the owner makes extraordinary repairs, he has the right to demand from the usufruitier the legal interest on the amount estimated for the duration of the usufruit. If it does not do so if they are essential to the preservation of the cause, usufruit can do them; however, at the end of the usufruit, he has the right to demand from the owner the increase in the value that immobility may have acquired through repairs. (502 bis) “A usufruit is” rights or privileges that generally arise from landlord and tenant relationships and are granted to tenants who, for years, are less interested in real estate than real estate.” To remove removable improvements or lift them from the damage it has caused2. On the side of the naked owner. Must cancel security or mortgage. In the case of rural leases, respect the leases made by the usufruit until the end of the agricultural year.

Restitutions to usufruit in appropriate cases 1. They are required by normal or normal use2. They are necessary for conservation3. They must have taken place during usufruit4. They must have been made with or without fault of the nie-armuche 3. If the naked owner pays alone for insurance, but there is error or omission. The effect is the same, as if there were a common use, but the usufruit must reimburse the naked owner his share of the insurance premium 1. On the Niefructuarya side. Must return the property to the naked owner. For the preservation of property until it is repaid for capital taxes and the necessary extraordinary repairs and expenses of Section 570.

When a usufruit is made on the right to payment or periodic annuity, in money or fruit, or in interest on bonds or securities payable to the bearer, any payment due is considered the product or fruit of that right.