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Usufruct Interest

A usufruct interest gives temporary ownership rights to things on or arising from the land, and the right to enjoy products of the land, such as crops from a field or rock from a quarry, but does not confer ownership of the land itself. In practice, a usufruct is limited to 30 years.  Similar to lease, the agreement can be successively renewed. In contrast to a lease, a usufructuary interest can be sold or transferred, although it expires upon the death of the holder and therefore cannot be inherited. Any use is allowed (except destruction) even without the land owner’s permission. The usufructuary is responsible for routine maintenance and must insure the property for the benefit of the owner. If the property is destroyed, then the usufruct is extinguished. However, the usufruct will be revived to the extent to which the owner restores the land. Upon its return to the owner, the property must be substantially unaltered from its original condition.

Superficies

superficies is similar to a usufruct, but provides more security for the interest of the holder of the rights. A superficiary has the right to own, on or under the land, buildings structures or plantations, but not the land itself. A renewable 30-year maximum term applies. Unlike usufruct, a superficies is both transferable and transmissible by way of inheritance. Further, a superficies is not extinguished by the destruction of the buildings, structures or plantations. The superficiary has the right to remove the buildings, structures, or plantations upon the expiry of the superficies, at market value. As with a usufruct, the land must be restored to its former condition before being returned to the owner.

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