A legal term describing a situation wherein a person or company has a temporary right to use and derive income from someone else's property (provided that it isn't damaged).
Investopedia Commentary
Usufruct is recognized only in a few jurisdictions in North America.
See also: Personal Property
usufruct
in Roman-based legal systems, the temporary right to the use and enjoyment of the property of another, without changing the character of the property. This legal concept developed in Roman law and found significant application in the determination of the property interests between a slave held under a usus fructus (Latin: "use and enjoyment") bond and a temporary master. Any property acquired by a slave as a result of his labour legally belonged to that master
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