Louisiana Usufruct La Fortuna
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FAQ
While a usufruct allows extensive rights over the asset, it does not transfer the ownership of the asset itself to the usufructuary. While the usufructuary (the person who holds the usufruct right) can let the property, they are not allowed to sell it or bequeath it to another party.
Louisiana Law: Usufruct & Estate Planning A usufruct commonly lasts until the death of the person who receives the right, though it is possible to appoint a specific date or duration for the right.
Usufructs and Naked Ownership Under Louisiana Law A usufruct is a right by one person over the property of another. It is similar to a life estate in common law jurisdictions, except that a usufruct can last for a specific period of time other than a lifetime.
This usufruct that Louisiana Succession Law provides for a surviving spouse is not automatically given for life, but instead, terminates when the surviving spouse dies or remarries, whichever occurs first.