Usufruct (/ˈjuːzjuːfrʌkt/)[1] is a limited real right (or in rem right) found in civil law and mixed jurisdictions that unites the two property interests of usus and fructus: A usufruct is either granted in severalty or held in common ownership, as long as the property is not damaged or destroyed.
The third civilian property interest is abusus (literally abuse), the right to alienate the thing possessed, either by consuming or destroying it (e.g., for profit), or by transferring it to someone else (e.g., sale, exchange, gift).
Usufruct comes from civil law, under which it is a subordinate real right (ius in re aliena) of limited duration, usually for a person's lifetime.
In modern terms, fructus more or less corresponds to the profit one may make, as when selling the "fruits" (in both literal and figurative senses) of the land or leasing a house.
Under Roman law, usufruct was a type of personal servitude (servitutes personarum), a beneficial right in another's property.
The Law of Moses directed property owners not to harvest the edges of their fields, and reserved the gleanings for the poor.
Jefferson's use of the word "living" is critical here: he meant that the usufructuaries of the world are those who are alive, not deceased past generations.
In Louisiana, usufructs generally are created in a manner similar to other real rights, by gift ("donation"), will ("testament"), or operation of law.
These were torn down and the empty lots lay idle for years until the food shortages forced Cuban citizens to make use of every piece of land.
[14][15] Usufructuary mortgage in the Indian market denotes a unique property financing arrangement where the mortgagor surrenders possession to the mortgagee, explicitly or implicitly.
Commonly employed in agricultural sectors, this arrangement aids farmers who may lack liquidity but possess valuable land assets.
Usufructuary mortgages align with India's diverse economic landscape, facilitating financial access for those with immovable assets.
The Indian legal system recognizes and regulates these transactions, emphasizing the nuanced role this mortgage type plays in fostering economic activities, especially in rural settings.
What "civilization" has given us, in spite of itself, is the recognition that the ancient values of usufruct, complementarity, and the irreducible minimum must be extended from the kin group to humanity as a whole.