A usufructuary is that individual who owns and enjoys an asset, without being the legitimate owner of it, that is, a person can have possession of something (a house, a car, an office, etc.), use it and obtain profits therefore without being the real owner. Therefore, you will not have the right to sell, transfer, or assign, much less reduce the property without the authorization of the owner. Only the latter has the right to dispose of the property as he sees fit. The owner will be able to benefit from his property when the usufruct ends.
The usufructuary, having possession of an asset, has the right to: use and enjoy it. Perceive the benefits that arise, highlighting that the benefits that are obtained after the creation of the usufruct belong to the usufructuary; Similarly, if said benefits occur during the usufruct, but are collected at the end of it, they belong to the legal owner.
In the same way, the usufructuary may make the changes that he considers necessary to the property, but without altering its essence or form, taking into account that he will not receive any kind of compensation from the owner at the end of the usufruct.
Just as he has rights, the usufructuary also has duties, among which we can mention: he has the duty to take care of the property, without damaging it, with the exception of consumer goods. and is in the obligation to carry out all kinds of repairs that the property given in usufruct needs. You must prepare an inventory before taking possession of the usufruct. You must grant the legal owner a bond that guarantees that he will comply with his obligations and finally deliver the property at the end of the usufruct.
If for any reason the usufructuary does not use the property within the period established by law, he will lose the rights to the usufruct.
