In case of need, the usufruit is required to insure the property to the advantage of the owner for loss. You must pay the insurance premiums for the duration of your usufruit and your right is also listed on the security bond. 2. At the expiry of the period for which it was constituted or by the fulfilment of a condition of restoration provided for in the title of creation of the usufruit; Do you need a dual usufruit contract? Download here a Thai Thai lawyer designed English Thai usufruit arrangement for land and home in Thailand (including country usufruit only version of this contract). This contract can be used between a foreign spouse and a Thai spouse or similar Thai relations. The usufruit is responsible for the cost of managing property, paying taxes and liability for interest payable on debts it has earned. The usufruit could not transfer the right to use the land by inheritance. The usufruit automatically ends with the death of the usufruit. However, the usufruit does not stop at the death of the owner. As such, usufruit can survive even if the country`s owner is dead. A usufruit combines the two ownership rights of the use and the fructus. The usage refers to the right to use something directly without damaging or modifying it, and fructus refers to the right to enjoy the fruits of the property used – that is, to enjoy the property by renting it, selling crops produced by it, asking for entry, or something like that. The usufruit is granted in several years or held together as long as the property is not damaged or destroyed.
The third interest in civil property is abuse (abuse literally), the right to alienate the possessed, either by consumption or destruction (z.B for profit reasons) or by transfer to someone else (e.g.B. Sale, exchange, gift). Someone who enjoys all three rights has full ownership. Although the law does not prevent foreigners from registering a usufruit on land, this is still subject to the assessment of the state official. Thomas Jefferson wrote in 1789 that « the Earth – in usufruit – is one of the living. » Jefferson`s metaphor means that man, like a usufruitier, has the right to use the Earth for his own benefit and to profit from it. The use of Jefferson`s word « life » is essential here: he said that the usufruitiers of the world are those who are alive, past generations not dead. This idea would profoundly affect Jefferson during his life and would lead to his recognition that the Constitution of the United States would be revised by future generations, and was part of the reason that the Constitution contains a provision for their own amendment.  While Georgia does not share Louisiana`s civil law history, the Georgia General Assembly has created statutory usufruit laws.
 In Georgia, usufruit is « rights or privileges that generally arise from landlord and tenant relationships and are granted to tenants who, for years, are less interested in real estate than real estate. »  Under Georgian law, if a landowner grants a lease for less than five years, the lease is a usufruit and the landowner retains the property.  In addition, the Georgian courts consider that any relationship between a landowner and a tenant is usufruitative if the restrictions are « so widespread that they have been fundamentally incompatible for years with the concept of succession, » or if the landowner retains « control and control » of the operation operating on the land.  In a usufruit scenario, the beneficiary may also transfer his rights to the usufruit to a third party in accordance with Section 1422 of the Civil and Trade Code.