Creation of usufruct

Usufruct means the right to use a real estate (or a personal asset) that is owned by somebody else. Usufruct can be separate or common, can refer to a part or the whole of the real estate, and can last for the lifetime of the usufruct beneficiary, or only for a determined number of years.

The value of the usufruct right of a person for his/her lifetime can be determined according to the following: if the beneficiary is

1.       younger than 25, the yearly value ten times,

2.      between 25 and 50 years, the yearly value 8 times,

3.      between 51 and 65 years, the yearly value 6 times,

4.      older than 65, the yearly value 4 times.

The yearly value can easily be determined by dividing the market value of the property by 20.