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A usufruct is, according to law, a right of limited duration on the property of another,
We see usufruct often in . When a married couple acquires community property in their name, and one spouse dies without a last will, the surviving spouse, pursuant to intestate law, inherits the usufruct of the deceased spouse's half of the community property. The surviving spouse's intestate usufruct last until the surviving spouse either dies or remarries.When the usufruct terminates, the heirs (or, naked owners) of the first spouse to die become owners.
The rights and obligations of the usufructuary vary depending on whether the usufructuary owns the usufruct of consumable things (like money), or of nonconsumable things (like land, houses, shares of stock, vehicles, and furniture.
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Paul Rabalais
Estate Planning Attorney
www.RabalaisEstatePlanning.com
Phone: (225) 329-2450
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