Usufruct

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Related to usufructuary: Usufructuary Rights

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 ?
nature of the usufructuary property right to determine that no taking
However, Austad didn't find that Thompson had usufructuary rights throughout the entire ceded territory.
A usufruct may be extinguished by: (a) the death of the usufructuary, unless a contrary intention clearly appears; (b) the expiration of the period for which it was constituted or by the fulfillment of any resolutory condition provided in the title creating the usufruct; (c) merger of the usufruct and ownership in the same person; (d) renunciation of the usufructuary; (e) total loss of the thing in usufruct; (f) termination of the right of the person constituting the usufruct; and (g) prescription.
usufructuary, but legally represent the legal usufructuary.
This is comparable to granting usufructuary rights to beneficial users of water.
Olive Dickason, for example, argues that the Mi'kmaq understood the Acadians to have only a usufructuary right to the lands they occupied in Acadia and that the territory remained part of the Mi'kmaq domain: Olive Patricia Dickason, Canada's First Nations; A History of Founding Peoples from Earliest Times (Toronto: McClelland & Stewart, 1992) at 108 [Dickason, Canada's First Nations].
Ultimately, changes in the doctrine of indigenous usufructuary rights over time suggests that constitutional innovation, not simply incremental judicial decision-making, will be necessary if the two nations wish to address fully some of the historic grievances of indigenous people.
right is merely "usufructuary," that is, to use the water.
In the final analysis, the "rE[micro]dovans" system -- a usufructuary tenancy that centers on licensing a mine for a certain period of time in return for a percentage of its profits -- which reduces the cost of production of one ton of coal from $140 to $28, was initially introduced by the Recep Tayyip Erdoy-an government.
Nevertheless, with regards a theoretical framework for the ownership of intellectual property, their intangible rights are forms of usufructuary rights within the definition of manfa 'ah' which are "dispensable with their origin and of separate value are capable of being traded separately" (Abdul GhaniAzmi, 1995: 308).
In the United States, most human groundwater use occurs under some sort of claimed property right, with groundwater users claiming either ownership interests in the groundwater beneath their land or usufructuary rights (16) to pump groundwater and put it to use.