I am going to explain what its usufructo
please let me five minutes
What it means is a person or persons have a cast iron right to live in a house or piece of land for life. It also allows the named person to live, farm the land and to harvest the land for the rest of his life without charge. However, the named person does not own the land or can sell the land. Once the named person becomes deceased the land reverts to the owner or is passed on to his heirs.
The legal arrangement in Spain is signed and witnessed with a local a notary and is stated in the property deeds (escrituro). The legal owner and his heirs are powerless to sell the property until the person named as ‘usufructo vitalicio’ has died. In order for the legal owner to sell the property he will need to have the named person’s death certificate. The name will in most cases need to be removed from the deeds and this will incur a charge.
This arrangement may seem a very odd thing to happen, but there are circumstances where such a legal definition is advantageous. For example: to enable someone a legal right of way across the property or a right to graze cattle on the land but without right of ownership.
In some instances, it will allow a common in law partner to remain living in a property after the death of the other for life without it affecting the legal ownership of the premises. Once the remaining partner has died the property will go to the original partner’s estate.
In Spanish law, one can force the sell of a jointly owned property should one of the joint owners wish it. If the other owner resists selling the property can still be sold after the matter has been settled in court. With a usufructo vitalicio arrangement, the property cannot be sold under any circumstances whilst the named person on the deeds remains alive. In practice, the named person may not have legal ownership but has more security than a joint owner.
Under usufructo vitalicio agreement, the named person has full right of use of the property in every regard except one. He is not permitted to cause damage to the property in any way. There may be an additional agreement regarding upkeep expenses but no charge for rent.
Also I am going to give you the link to the spanissh civil code
Read articles 467 and more
471 and more gives you the rights of each part
live interest its that the usufructuario has the right to use the goods for all his live
The owner, called nudo propietario, can no sell
The usufructuario could rent the propiety ank keep the money for him
All the rights and obligations are in the civil code 471 and more
In the link I have provided you
Its in english
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