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usufruct

 - 5 dictionary results

u⋅su⋅fruct

  [yoo-zoo-fruhkt, -soo-, yooz-yoo-, yoos-]
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–noun Roman and Civil Law.
the right of enjoying all the advantages derivable from the use of something that belongs to another, as far as is compatible with the substance of the thing not being destroyed or injured.
Origin:
1620–30; < LL ūsūfrūctus, equiv. to L ūsū, abl. of ūsus (see use (n.)) + frūctus (see fruit )
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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u·su·fruct   (yōō'zə-frŭkt', -sə-)   
n.  The right to use and enjoy the profits and advantages of something belonging to another as long as the property is not damaged or altered in any way.

[Late Latin ūsūfrūctus, variant of Latin ūsusfrūctus : ūsus, use; see usual + frūctus, enjoyment; see fruit.]
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Financial Dictionary

Usufruct

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

Investopedia.com. Copyright © 1999-2005 - All rights reserved. Owned and Operated by Investopedia Inc.
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Legal Dictionary

Main Entry: usu·fruct
Pronunciation: 'yü-z&-"fr&kt, -s&-
Function: noun
Etymology: Latin ususfructus from usus et fructus, literally, use and enjoyment
: the right to the use and enjoyment of another's property and its profits usufruct in the crops of the estate>; especially in the civil law of Louisiana : a personal servitude of limited duration that confers the right of use and full enjoyment of another's property and its fruits
NOTE: Under the civil law of Louisiana, one having a usufruct in land must deliver it to the owner with its basic substance undiminished at the end of the term; one having a usufruct in consumables acquires ownership of them, but must return their value or things of the same quantity or quality at the end of the usufruct.
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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Encyclopedia

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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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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