Usufruct Form With Decimals
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How to fill out Louisiana Grant Of Usufruct?
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FAQ
Usufruct for Inheritance The term "usufruct" refers to a clause you can include in your will that allows the designated person to make use of an item such as your house for a specific period of time after your death, with the stipulation that the property must be preserved for when the heirs do take possession.
The gains granted by usufruct can be clearly seen in the Latin phrase from which the word developed, usus et fructus, which means "use and enjoyment." Latin speakers condensed that phrase to ususfructus, the term English speakers used as the model for our modern word.
A usufruct is a legal right granted to a person or party which grants a temporary right to use/derive income/benefit from the property of another individual. It is a real limited right that can be found in many jurisdictions of mixed and civil law. A usufructuary is an individual who usufructs the land.
For example, the surviving spouse's usufruct terminates when the surviving spouse dies or remarries, whichever occurs first. So, if you die first and your spouse remarries, then her/his surviving spouse usufruct terminates and they can no longer use your half of the community home.
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.