Usufruct is a legal property right which is rich in history. Pronounced yu-ze-frukt, it is another civil law concept which may be quite foreign to those more accustomed to common legal systems. The term comes from the Latin terms usus et fructus which is literally translated into use and enjoyment. Like most civil law concepts, the term derives from ancient Roman law. In most of todays civil law environment, it is defined as the legal right to use and derive profit or benefit from property belonging to another person. Thailand has adopted this same principle in its Civil and Commercial Code where it is codified in section 1417. Here it states that an immovable property may be subjected to a usufruct by virtue of which the usufructuary is entitled to the possession, use and enjoyment of the property. It goes further to clarify that the usufruct of a forest, mine or quarry entitles the usufructuary to the exploitation of the forest, mine or quarry.
However, chances are you have no intention on mining iron ore or starting a pineapple plantation on the property of your dreams. You just want a holiday home to maybe retire in or some place you can buy and let. From the legal...
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