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Usufruct
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.
What is
usufruct?
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." |
What are
the kinds of usufruct?
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. |
Does
usufructary have any obligations or
duties?
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.
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Cameron, Davis, Gonzalez & Marroney has its
principal office at 901 N. Olive Avenue, West
Palm Beach, Florida, 33401. We represent our
clients before Federal and State Courts in
Miami, Fort Lauderdale, West Palm Beach,
Martin, and St. Lucie counties, Vero Beach, and
all family courts throughout the state of
Florida. |
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Cameron, Davis, Gonzalez & Marroney practices in the following areas of law: General Civil Trial Practice, Corporate, Business Law, Contracts, Real Estate, Personal Injury, Wrongful Death, Criminal Law, Commercial Litigation, Construction Law, Medical Malpractice, Family Law, Divorce and Child Custody. |
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