Skip to contents

Financial Dictionary - Usufruct


Usufruct means“ the real right of use and enjoyment of a thing or property belonging to another”. Article 467 of the Spanish Civil Code defines usufruct as: “the right to enjoy the property of others with the obligation to preserve its form and substance, unless the title of its constitution or the law authorises otherwise”.

Put more simply, it means that individuals can enjoy and use something without it being their property.

Characteristics of usufruct

  • This is a real right on someone else's property.
  • It is a right to full enjoyment.
  • It is a temporary right.

The duration of the usufruct depend on who the beneficial owner is. If it is an individual, the duration can be:

For a temporary period of time, for example, 30 years.

For life, i.e. for the entire life of the usufructuary.

When does the usufruct come to an end?

In cases of usufruct for life, when the beneficial owner dies.

  • When the condition that gave rise to the usufruct is met.
  • If the usufructuary becomes the owner, i.e. they buy the property.
  • If the usufructuary renounces the usufruct.
  • If the property is lost.

The usufruct may also be terminated if it is not used for a particular period of time, depending on the country's legislation.


Mortgage simulator

Calculate the instalments and costs of your mortgage with our simulator.
find out more about Mortgage simulator

Hipoteca Sin más mortgage

Up to 80% of the value of the home with no other collateral.