Usufruct Agreement Template South Africa

There are many ways to end usufruit. The usufruit is first entitled to possession of the property. Common usufruits are entitled to a division of ownership to the extent of their vital interests. The “rights” of nudity could pose problems for children (the ultimate heirs) because, while usufruit is in effect, children have no right or authority over the use or enjoyment of the property. Although it was hereditary to them, it is subject to the usufruit of their mother. They do not have to get involved; Although they naturally have the right to protect their interests, usufruit should abuse the property. The usufruit must restore the property rei substantia, that is to say with the preservation of its substance. It therefore has no right to destroy or consume the property, alter its value or change its character. Usufruct is also finished by the arrival of the day, or the satisfaction of the condition until the usufruit has been established. The destruction of the usufruit, the merging of the titles of the usufruit and the owner, the handing over of the usufruit by the usufruit to the owner of the property and the non-use of the property for the statute of limitations, i.e. thirty years, will also put an end to the usufruit. The usufruit is also not required to insure the property against fire, storm or other damage, although it is highly recommended to do so, possibly in collaboration with children/owners. The usufruit must, at the request of the owner of the property, draw up an inventory of the property contained in the usufruit.

It must also give the owner the guarantee of the restoration of the property at the end of the usufruit in the state in which it was received, with the exception of good faith wear and tear. Usufruct is made by delivery or recipe. In case of inalienation, the delivery of real estate means registration, according to a valid reason, as for example. B of an order in a will, contract or court order. A usufruit can be registered against the ground by the registration of a notarial deed, thus creating the usufruit exported by the landowner and the stock exchangeholder; In the event of a land transfer, a usufruit may be reserved for the ceding. However, there must be no usufruit allegedly beyond the life of the fellow. The usufruit of a herd of sheep or cattle is allowed to maintain, in addition to wool or milk, progeny beyond the complete complement of the herd or herd. This number must be maintained, the young replace the old when they die, and the herd or herd as a unit must be returned to the survivor at the end of the usufruit.