A registration of a Usufruct provides a legal right of usage to an individual, namely, the usufructuary, in order to be able to use that piece of land and enjoy any profits or advantages that originate from such a usufruct right for a certain period of time as permitted by the land owner. A right of a ususfruct does not grant an ownership right but merely a possessory right.
The right of a usufruct can be registered at the relevant land office for a maximum period of 30 years similarly to a lease or a superficies, or as permitted by the land owner. During the period of such possession, the usufructuary is to look after the property and is to be responsibile for payment of certain taxes upon the land during their possession and to maintain the land and return it back to the land owner in the same position and condition it was when they first received such possession.
Similar to a right of superficies, usufructs can exist between partners who have registered their marriage. Foreigners are also able and permitted to register a right of usufruct in their name, however, like all other rights associated at the land department, this is upon the discretion of the land officer. This right of usufruct is registered at the land department and is outlined on the title deed.
The right of usufruct cannot be inherited as it terminates upon the death of the usufructuary. However, this right can be in fact transferred to another during the period of time in which the usufruct is valid. This can be done by way of a lease granted by the usufructuary to a third party in order to lease the property to the third party for a maximum period of 30 years. The usufructuary does not have to be the owner of the land in order to create this lease. Upon the death of the usufructuary however, the usufruct will terminate, but not the lease term.
As the process may seem a little complicated and there may be agreements that need to be in place, it is suggested that you contact a lawyer or solicitor in order to determine which would be the best way for you to proceed in the various circumstances.
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