Vruchtgebruik
Usufruct
Usufruct is the real right to use property and to enjoy the fruits thereof, without acquiring ownership. The usufructuary holds the right of enjoyment, while bare ownership vests in another.
Usufruct is a limited right governed by Book 3 of the Civil Code. It confers on the holder the right to use a thing or right and to receive the income derived therefrom, without any transfer of ownership.
This right is of particular relevance in the law of succession and in estate planning, where it is commonly employed to enable the surviving spouse to remain in the matrimonial home while the children acquire bare ownership.
In practice, usufruct is typically created by notarial deed, will or gift and ordinarily terminates on the death of the usufructuary or upon expiry of an agreed term.
“The surviving spouse acquired a usufruct over the dwelling, enabling her to continue residing there while the children inherited the bare ownership.”
Need legal advice?
Schedule a free consultation with one of our specialists