Usufruct is a legal right that allows a person to use, possess, and derive benefits from property owned by another person, provided that the property’s essential character is preserved. Originating in Roman law, the concept separates the right of ownership from the right of enjoyment. The person holding the usufruct, known as the usufructuary, may occupy the property, collect income generated by it, or otherwise benefit from its use, while legal title remains with the owner.
Usufruct arrangements are commonly associated with real estate, agricultural land, and inherited property, particularly in civil law jurisdictions. For example, a property owner may grant a usufruct to a family member, allowing that person to live in a home or receive rental income from it for a specified period or for life. While the usufructuary has broad rights to enjoy the property, they are generally responsible for maintaining it and may not substantially alter, damage, or dispose of the underlying asset without the owner’s consent.
