Paul was extremely excited about his first year of law school. As he quickly glanced over his syllabus for Real Property Law, he saw several terms he had never seen before. One of the terms that caught Paul's eye was "usufruct." Paul decided to do some preliminary research on the topic.

The meaning of the term "usufruct" is "the right of enjoying a thing, the property of which is vested in another, and to draw from the same all the profit, utility, and advantage which it may produce, provided it be without altering the substance of the thing." The person who has the right and enjoyment of a usufruct is known as a "usufructary."

There are two kinds of usufruct: perfect and imperfect. Perfect usufruct refers to things the usufructary can enjoy without altering their substance. It does not matter that their substance may be diminished or deteriorated naturally by time or by virtue of the use of the usufructary. Such things include a house, land and animals. An imperfect usufruct, also known as a "quasi usufruct," refers to things which would be useless if the usufructary did not consume and expend them and change the substance of them. Some examples of items subject to an imperfect usufruct are money, grain and liquors.

Yes. A usufructary has a duty to make an inventory of the things subject to the usufruct and do so in the presence of those having an interest in the things. Moreover, the usufructary has a duty to give security for the restitution of the things when the usufruct comes to an end. The usufructary must also take good care of the things at issue. The usufructary must also pay all taxes and/or claims which arise during the usufruct. Lastly, the usufructary must make any necessary repairs at his or her own expense.