Buyers are finding it increasingly difficult to obtain financing for the purchase of farms and other farmland. Many sellers of these properties plan to provide the buyer with a loan for the purchase amount that will be paid over a specified period of time. Worse still, some accept debt recognition and accept judgment as sufficient protection before shaking hands and entering into art transfer contracts. 585. Usufruit, regardless of the title of the usufruit, may be excused by the obligation to make a navetory or to ensure safety if it does not violate anyone. (493) Transfer tax, not VAT, is due when a seller subject to VAT sells a leased property for residential purposes. Art. 568. If the usufruit has leased the land or rental buildings given in the usufruit and the usufruit expires before the termination of the lease, he or his heirs and successors receive only the proportionate share of the rent to be paid by the tenant. (473) Art. 575.
The usufruit of fruit trees and shrubs may use dead trunks and even those that are cut or uprooted by chance, under the obligation to replace them with new plants. (483 bis) Annual fruit samples. Annual taxes on fruit. Annual taxes on LandArt. 597. Taxes that can be levied directly on capital during the usufruit are the responsibility of the owner. If the latter paid them, the usufruit pays him reasonable interest on the sums that could have been paid of this nature; and if the aforementioned amounts have been advanced by the usufruit, it will recover the amount at the end of the usufruit. (505) Art. 583. The usufruit is required, before entering into the consumption of property:1, after notification to the owner or his rightful representative, to draw up an inventory of all real estate that must include an assessment of the personal property and a description of the condition of the real estate;2) a guarantee which undertakes to fulfil its obligations under this chapter. (491) Usufruct is derived from civil law, under which it is a real subordinate right (ius in re aliena) of a limited duration, usually for the life of a person.
The owner of a usufruit, known as usufruit, has the right to use the property (usus) and taste its fruits (fructus). From a modern perspective, fructus corresponds more or less to the profit that can be made, as in the sale of the “fruits” (literally and figuratively) of the land or when renting a house. Beyond the right of the naked owner to alienate the property, he can also – a. Build all The Worksb. And make all the improvements. Or plant on it, if rural, but still, such actions should not cause – i. decrease in the value of the nie-brig. Or the right of usufruit to article 567. Natural or industrial fruits that grow when usufruit begins are part of the usufruit.
Those who grow up at the time of the cessation of usufruit belong to the owner. Art. 578. The usufruit of an action to recover a property or a right or property has the right to take legal action and to compel the owner to give him a warrant for that purpose and to provide him with any evidence he has.