In the complex world of property law, the terms usufruct and bare ownership are fundamental to understanding how ownership of an asset can be divided. Although they are often used in inheritance contexts, their application goes much further. Understanding the difference between these two concepts is crucial for anyone facing an estate planning situation, an inheritance, or the purchase of a property.

Imagine a cake. When a person is the full owner of the cake, they have full ownership. They can eat it (use it and enjoy its benefits), keep it (possess it), and give it away or sell it (dispose of it). However, the law allows this property right to be divided into two parts: the right to enjoy the cake and the right to be the owner of the cake. This is where usufruct and bare ownership come into play.

Usfruct: The right to use and enjoy

usfruct is the right of a person(the usufructuary) to use and enjoy another person’s property. It is a real right that, however, does not grant ownership of the property. The usufructuary can live in a house, rent it out and keep the income, or cultivate a farm and sell its products.

The main characteristics of usufruct are:

• Temporality: Usufruct is usually temporary. It can be for a certain period (for example, 10 years) or, more commonly, for life, that is, until the death of the usufructuary.
• Obligations: The usufructuary has the obligation to preserve the property with the diligence of a good family man, to make ordinary repairs and to pay the expenses and taxes generated by the use of the property, such as the Property Tax (IBI).
• Limitation: The usufructuary cannot sell, mortgage or encumber the property. You can only sell your usufruct right.

A classic example is that of an inheritance, where the widowed spouse inherits the life usufruct of the family home, while the children inherit the bare ownership. This ensures that the spouse can continue to live in the house until their death, without the children being able to sell it or kick them out.

Bare Ownership: The Right to Be the Owner

Bare ownership is the right to possess the title to an asset, but without being able to use it or enjoy its returns. It’s like having the cake, but not being able to eat it until the person who has the usufruct right has finished enjoying it.

The characteristics of bare ownership include:

• Ownership: The bare owner has ownership of the property and can, in fact, sell it. However, the sale would not affect the right of the usufructuary, which will continue to exist. That is, if the bare owner sells the house, the new owner must respect the right of the usufructuary to live in it.
• Recovery of full ownership: The main advantage of bare ownership is that, when the usufruct expires (generally, due to the death of the usufructuary), the bare owner recovers full ownership of the property automatically and without the need to carry out additional procedures.

Understanding the difference between usufruct and bare ownership is crucial to protecting your rights and interests. Whether you are planning your will, buying a home with this figure or facing an inheritance situation, specialized legal advice is essential to make the right decisions. At Actum Advocats, our law firm in Vidreres, we are at your disposal to advise you and help you manage any situation related to property law, inheritances or estate planning. Contact us and ensure the protection of your assets with the utmost professionalism and confidence.