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 ?
46) Once vested, the appropriator would have the ability to perpetually use and consume the same quantity of water each year,(47) and the beneficial uses of that water form the boundaries of the claimant's usufructuary right.
As such, it has been necessary to consider the particular text in pari materia with other legislative enactments and in light of the general historical relationship between the Indians and the federal government in general, and in relation to the particular relationship of the federal government and the tribe claiming usufructuary rights.
For the English, the negotiation of usufructuary rights to land was central to political authority.
Research on and discussion surrounding the establishment of water rights has emphasized that usufructuary rights include both the right to use and the right to derive profit from water resources.
39) The final question was whether the tribe's usufructuary rights were terminated when Minnesota joined the union.
stated that the interest of the natives in their land was a "personal and usufructuary right, dependent upon the good will of the Sovereign.
25) During this period plots were provided to the settlers for cultivation and they were also given usufructuary rights to la vega and la sierra.
Usufructuary rights are based on the "use it or lose it" premise in which the permit holders must justify their consumption as "reasonable and beneficial," a common requirement with water rights.
Under the new law the right to own land is reserved to the state, but the people now have access to the land in lifetime usufructuary rights.
Depriving the MSBF of its usufructuary rights to the 7-hectare property would violate Section 10, Article III (Bill of Rights) of the l987 Constitution, which proscribes the passage of any law impairing the obligation of a contract.
These aboriginal title claims are claims to land and the various usufructuary rights practiced are parasitic on the underlying title.
Prescott held (1) that overlying landowners did not have vested ownership of the physical water beneath their lands, and instead only held usufructuary rights to use that water; and (2) that those usufructuary rights were appropriately subject to regulation.