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USUFRUCT AGREEMENT This USUFRUCT AGREEMENT, hereinafter referred to as the Agreement, is made and executed by: SOCIAL HOUSING FINANCE CORPORATION (SHFC), a government owned and controlled corporation.

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Usufruct is the right to use and benefit from a property, while the ownership of which belongs to another person. The person who enjoys the usufruct is called the usufructuary.

Usufructs are also part of Louisiana's intestate law. If someone dies without a will, a usufruct may result for: The surviving spouse. If a married person with children dies without a will, the surviving spouse has a usufruct over the decedent's community property until the surviving spouse dies or remarries.

890 CC: usufruct terminates by remarriage or death, whichever comes first.

Usufructs are also part of Louisiana's intestate law. If someone dies without a will, a usufruct may result for: The surviving spouse. If a married person with children dies without a will, the surviving spouse has a usufruct over the decedent's community property until the surviving spouse dies or remarries.

Example #1 – Farm Land Without having any family to help with the farm, the farmer grants this agreement to his neighbor as they are the closest to them, making them the usufructuary. Once the law grants them the right, the neighbor can take care of the land and produce the crops that grow on it.

The usufruct shall be for life unless expressly designated for a shorter period, and shall not require security except as expressly declared by the decedent or as permitted when the legitime is affected.

Usufruct is the right to use and benefit from a property, while the ownership of which belongs to another person. The person who enjoys the usufruct is called the usufructuary.

Components of Usufruct Fructus is the right to use the income that is provided by a property, such as rent. Abusus is the right to sell or mortgage the home. Usufruct is a legal right which includes the first two components, meaning they are allowed to live in the home and use any proceeds from the property.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232