Usufruct, a term derived from the Latin " Usus Frutus " which means " Use of the fruits ". Its application is mainly legal and is used in cases in which an intellectual or material property belongs to a subject, but its profits (fruits) or functions are enjoyed by another subject outside the one called " Usufructuary ". That is, it is when a person enjoys the benefits of something but that something is not his property, it is not his, but by a prior agreement with the owner of that something, this person can satisfy his need with this something as a loan or rent.
The person as usufructuary can not dispose of the property to sell it, modify it or alter its conditions so that it serves something else, that is the responsibility of the owner of the object in question, who would be the only one with the authority to dispose of it..
When a usufruct is agreed, the responsibilities, duties and rights are distributed among those involved, the owner of the thing, cannot make use of it or take advantage of its fruits, since that corresponds to the usufructuary as well as the conservation of good condition of the thing and of keeping the earnings in the same state in which they were delivered, that is the responsibility of whoever enjoys the loan. It is a kind of separation of the domain, since both parties, from different angles, but dominate the property in question.
One of the most palpable examples in everyday life of what a usufruct is is the rental of a home, car or any other useful asset without the need to be the absolute owner of it. In a housing lease contract, the owner establishes a series of rules concerning the payment of a tribute in exchange for a tenant living in the location, he accepts and at that moment he becomes a usufructuary of the house, he will be able to live In it, make modifications if the owner allows it, pretend that it is your home, even if it is not, the owner, in turn, can revoke the contract, or can charge for material damage caused by the tenants as the case may be.
