What does usufructuary mean?

This term refers to a person who has the right of usufruct over an asset, usually a property, for a specified period or until deathThis is a right that allows you to enjoy the benefits generated by this asset, such as the use and exploitation of a home, even if you are not the owner of it.

It is important to note that the usufructuary has the ability to live in the property, rent it out or generate income, but You cannot sell it or transfer it to another person without the consent of the bare owner.

The usufructuary may occupy the property and enjoy its fruits, but in no case may he dispose of the property as a full owner would. In this sense, the relationship between the usufructuary and the bare owner (who owns the property, but not the right of use) is one of the most important Keys to understanding how these rights are structured.

Since all these procedures can be complicated or tedious, You can always contact Even More Life for sale of the bare propertyAfter all, these types of contracts often involve a great deal of legal and bureaucratic paperwork that can be confusing for those who are not familiar with civil law.

Differences between usufructuary and bare owner

To understand the figure of the usufructuary, it is essential to know its differences with the bare owner. Both concepts are closely related, but They have very different roles during a process sale of the bare property.

The owner of the property is the person who has the domain of the property, but does not have the right to use it or enjoy its benefits. as long as the usufruct lastsThat is to say, the bare owner is the owner of the property, but the usufructuary has the exclusive right to use it. The latter is granted the use and enjoyment of the property, but cannot dispose of it in an absolute manner, as would be the case in a full owner.

In simple terms, usufruct causes the property to be divided into two rights: the right of use and enjoyment (usufruct) and the right of disposal or ownership (bare ownership). With this in mind, we must not forget that The usufructuary can take advantage of the benefits of the home, while the bare owner retains ownership, but not the immediate benefits.

To explore more on this topic, you can check out our Main post on bare ownership, in this way You will better understand the implications and differences of these two concepts. You can also read our post about usufruct, where we detail even more the aspects related to the usufructuary and his right over the property.

Rights of the usufructuary

This person enjoys several rights over the property, but these are limited by the fact that is not the full owner of the propertyBelow are some of the main rights of a usufructuary:

• First of all, it should be noted that, as we have already mentioned several times, the usufructuary has the right to live in the property, rent it out, or even exploit its contents(If it were a farm, for example, you could grow or harvest crops if you wanted to.)
• He also has the right to receive the fruits of the property. This concept is understood as the benefits generated by the use of the asset. Rents or income derived from the exploitation of the property may be included.
• Although the usufructuary has the right to use the property, he cannot sell it or transfer it to third parties. However, he has the possibility of making certain modifications or repairs, but always with the care of not to harm the structure or value of the home.

It is important to understand that, in the context of real estate, the usufructuary can enjoy his right throughout his life or until a previously agreed condition is met. In the following video you will find more details about the specific rights of the usufructuary:

Obligations of the usufructuary

Despite enjoying certain rights, as is usually the case with any benefit of this type, the usufructuary is also subject to a series of obligations towards the property and the bare ownerSome of the main ones are the following:

• Maintain the property: The beneficial owner must take care of the property and keep it in a reasonable state. This includes making any necessary repairs so that the property does not deteriorate. Generally, the beneficial owner is expected to: Keep the property in the same condition as you received it, except for natural wear and tear resulting from use.
• Pay taxes and expenses: The usufructuary is responsible for the expenses arising from the use of the property, such as property taxes, maintenance fees, or utilities.
• Do not alter the property: We had already mentioned that the usufructuary has the right to make modifications, but only as long as do not affect the structure or value of the homeOf course, the exception would come from the prior consent of the bare owner, or if the repairs are necessary.
• Restore the property in the same state: At the end of the usufruct, the usufructuary must return the property in the same condition in which you received it, taking into account natural wear and tear.

How to know who is the usufructuary of a home

In many cases, determining who each of the rights falls on is not such a simple task. However, there are several possibilities that will help you verify this information:

• Consult the Property Registry: In Spain, the Property Registry is a fundamental tool for this type of situation. Consulting the rights over real estate is very simple and, if the usufruct is registered, You will be able to find the person's data which has said right in the corresponding registry.
• Review the deed of sale: On the other hand, if the usufruct has been established as part of a sale transaction, the public deed that has been made in a notary's office will also be reviewed. will specify who the usufructuary is and the conditions under which it exercises that right.
• Contact the owner: Finally, you can always resort to more traditional methods. In many cases, the easiest way to find out who the usufructuary is is to speak directly with the owner of the property. The bare owner, As the owner of the property, you must know who has the usufruct..

When the usufructuary's right expires

A doubt that normally arises for both the usufructuary and the bare owner is more related to the deadlines. The right of the usufructuary It is not eternal and is extinguished under certain circumstances.Some of the main causes of termination of usufruct include:

• Death of the usufructuary: In the case of life usufructs, the right of usufruct It expires after the death of the person who owns it.
• Voluntary resignation: The usufructuary may waive your right at any time, provided that you do so voluntarily.
• Fulfillment of the agreed condition: If the usufruct has been established under certain conditions (for example, until the usufructuary reaches a specific age), the right will be extinguished. when this condition is met.
• Destruction of property: If the property suffers a total destruction that makes its use or enjoyment impossible, the usufruct may be extinguished.
• Consolidation: If the usufructuary and the bare owner reach an agreement agreement for the usufruct to be transformed into full ownership, the right of usufruct will be extinguished.

Each of these circumstances puts an end to the usufructuary's right to enjoy the property, which normally results in the consolidation of the bare ownership as full.

This article has covered the fundamentals of the usufructuary, his rights, obligations, and the distinction with the bare owner. If you need help managing a situation related to the sale of bare ownership, from At Even More Life we ​​can offer you the necessary legal guidance.