Usufruct

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  • #3971

    usufructo
    Participant

    Does a property that has usufruct transfer to the new owner even if they are not family? Does the usufruct attach to the proceeds from the sale? Even though usufructuary had lifetime use? I’m not sure what was placed in the will but I would believe that once the property was sold, no longer in the family, that the usufruct would cease or it would attach to the proceeds??

    Thanks

  • #3973

    Lex
    Keymaster

    This really needs to be posted in the Real Estate or Probate sections.

    Anyway…

    A usufruct is binding on a buyer IF the document creating the usufruct is filed.

    The answer to the rest of your question is: it depends.

    Usufructs that are created by contract or by the terms of a will or trust can pretty much stipulate anything under the sun for the terms of the usufruct. A usufruct created by operation of law -a death of a spouse with no will, for example, would terminate with remarriage and for other specific reasons. So, like I said, it depends.

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