In some aboriginal cultures, usufruit means that the country is the common property of people, but families and individuals have the right to use certain lands. The land is considered village or communal land and is not owned by individuals. While people can take the fruits of the country, they must not sell or abuse them, in a way that puts an end to the future use of the country by the Community. The Philippine usufruit law is first defined in Title VI of the Philippine Civil Code.  In France, usufruit is applicable to estates. According to French law, an unenforceable part, known as coercive property, goes to the surviving spouse of the deceased and leaves (with shares divided according to the number of children), the rest of the estate – the free succession – being freely sold at will. However, the surviving spouse may choose to divide the forced estate as it is, or to turn it into usufruit or to divide the estate into a dumpable part and a usufruit for the children`s lives. When a user is selected, a value of usufruit interest is set for inheritance tax purposes, payable by the surviving spouse on a sliding scale, depending on age. “2.
At the expiry of the period for which it was constituted or by the fulfilment of a condition of reinstatement provided for in the title creating the usufruit;” (3) by merging the usufruit and the property of the same person; This full lawyer developed agreement usufruct with instructions is developed over a number of years to ensure a quality contract. Click “Order” and follow the check-out procedure. The usufruit contract package is sent immediately to the email address indicated in the customer`s information and a link is provided to download the site. A usufruit combines the two ownership rights of the use and the fructus. The usage refers to the right to use something directly without damaging or modifying it, and fructus refers to the right to enjoy the fruits of the property used – that is, to enjoy the property by renting it, selling crops produced by it, asking for entry, or something like that. Usufruit is a recognized right to a person or party that confers the temporary right to use and deduct income or benefits from another person`s wealth. It is a limited real right found in many mixed and civil jurisdictions. A usufruit is the person who owns the property by the usufruit.
Protect your financial interest in a property in Thailand and get the confirmed right to use, own and manage another person`s property.