Under the Louisiana Civil Code, what is a usufruct?
Correct Answer
D) A real right that grants a person the use and enjoyment of property owned by another
Under Louisiana Civil Code Article 535, a usufruct is a real right of limited duration that confers on the usufructuary the rights to use and enjoy the property of another (the naked owner), including the right to collect fruits and revenues. It is a personal servitude, meaning it benefits a specific person rather than a dominant estate.
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Related Topics & Key Terms
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Related Concepts
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
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In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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