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The usufructuary is also responsible for paying the assessment rates and general day-to-day costs of maintaining the home.
The ins and outs of a usufruct. Property for sale in Western Cape. Thank you for your feedback. Next Next post: Learn More about usufructuary. Contact our editors with your feedback. Personal Finance. A usufruct is often created because it reduces the amount of estate duty payable.
Internet URLs are the best. Thus, the usufruct, the device in civil law that most closely corresponds to the life estate of the Anglo-American law, is regarded not as a form of ownership but as a right in the thing of another jus in re aliena.
View More. New apartments from under R1. Our editors will review what you've submitted, and if it meets our criteria, we'll add it to the article. If the heirs pass away before the infructuary, their portion of the usufruct assets are transferred to their heirs - however, the conditions remain subject to the existing usufruct which is in place.
Usufruct is a legal right accorded to a person or party that confers the temporary right to use and derive income or benefit from someone else's property.
England property law In property law: Article History. Activate your account now.
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