Usufruct

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Usufruct is the legal right to use and derive profit or benefit from property that belongs to another person, as long as the property is not damaged. In many legal systems of property, buyers of property may only purchase the usufruct of the property.

Usufruct originates from civil law, where it is a real right of limited duration on the property of another. The holder of a usufruct, known as the usufructuary, has the right to use and enjoy the property, as well as the right to receive profits from the fruits of the property. The Latin words usus and fructus refer to the rights of use and fruit, respectively, and the English word usufruct derives from these Latin roots.

In Roman Law, usufruct was a type of servitude or ius in re aliena, a right in another's property. The usufructuary never had possession of this property (on the basis that if he possessed at all, he did so through the owner), but he did have an in rem right to the property itself. Unlike the owner, he did not have the right of alienation (abusus), but he could sell or let his enjoyment of the usufruct. Despite the usufructuary's lack of possession a modified form of the possessory interdicts was available to him.

The term fruits should be understood to mean any replenishable commodity on the property, including (among others) actual fruits, livestock and even rental payments derived from the property. These may be divided into civil and natural fruits, the latter of which, in Roman law, included slaves and livestock.