Usufruct

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Usufruct

A temporary legal right to derive profits from property owned by others, given that the property is not damaged. See: Beneficial ownership

Usufruct

The temporary right to use and profit from a property that belongs to another, provided one does not damage the property. For example, a farmer may have usufruct of another person's land. If he grows crops on that land, they belong to the farmer and not the property owner. Only a few jurisdictions in North America recognize usufruct, but it is an important concept in some investment vehicles in Islamic finance.
References in periodicals archive ?
However, this traditional worldview based on usufructuary rights struggles to gain acceptance and may contradict the two Anglo-defined limits of self-government and imposed values of private property rights.
155) This Part details the foundation for the assertion that the tribes who reserved off-reservation usufructuary rights would have understood that they also reserved the right to participate as governmental comanagers over resources as an aspect of such sovereignty.
Many of the tribes that reserved usufructuary rights on ceded lands and waters had developed systems and institutional arrangements for the allocation and protection of usufruct resources--particularly to prevent degradation caused by human activity--on lands and waters used by more than one clan, community, or tribe.
Thus, from the perspective of many indigenous communities, particularly those that sought to reserve usufructuary rights outside reservation boundaries, the exercise of some degree of participatory management on shared, usufruct-based territory was understood to be part of the bundle of sovereign powers exercised by the governing institutions of an Indian tribe.
245) Third, tribes may exercise police powers of search and seizure off-reservation when carried out as part of the tribe's regulation of its members' reserved usufructuary rights.
It is this premise that provides the foundation for recognizing that tribal participation in off-reservation decision making concerning reserved rights resources is an aspect of inherent tribal sovereignty that the tribes reserved through the same agreements that reserved such off-reservation usufructuary rights.