In Louisiana, a usufruct is best described as:
Correct Answer
B) The right to use and enjoy property owned by another and to collect its fruits
Under Louisiana Civil Code Art. 535, a usufruct is a real right that confers on the usufructuary the right to use and enjoy property owned by another (the naked owner) and to collect the fruits it produces. The usufructuary does not own the property but holds a personal servitude over it.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
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- → Wisconsin adopted the Marital Property Act in 1986, creating a system similar to community property. Under this law, property acquired during marriage is generally considered:
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