Usufruct

/ˈjuzəˌfrʌkt/ noun

Definition

The right to use and enjoy another person's property and receive income from it, without owning the property itself or having the right to dispose of it. The usufructuary must preserve the property's substance.

Etymology

From Latin 'usus' (use) and 'fructus' (fruit or profit), literally meaning 'use and fruit.' Roman law developed this concept to allow people to benefit from property without full ownership, particularly in family arrangements.

Kelly Says

Usufruct is like being given the keys to a mansion with the rule that you can live there and collect the rent from tenants, but you can't sell it or tear it down! It's ownership of the benefits without ownership of the thing itself.

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