Friday, July 30, 2010
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Real Rights

Usufruct Property Rights

The right of usufruct transfers possession, use and enjoyment of an immovable property from the owner to the usufructuary. Usufruct can only be registered over properly titled immovable property and is established by agreement with the owner and registration at the local land office. The contract or memorandum for usufruct is the legal document that states and confirms the formal agreement between the owner and the usufructuary (the person granted the right of usufruct).

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Superficies Property Rights

The Right of Superficies is used when you build upon land you do not own. The right of superficies is a transferable and inheritable interest in land for a specified term. The right of superficies creates ownership over the building upon land owned by another person and may be established either for a period of time up to 30-years, or for life of the owner of the land or the superficiary.

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Habitation Property Rights

The grantee of the right of habitation does not pay rent to the grantor. If there is rental payment made, the matter becomes a Hire of Property. A right of habitation may be created for either a specific period of time or for the lifetime of the grantee. In case the rights are granted for a specific time period, the law states that such a period may not exceed 30 years; if a longer period is fixed, it shall be enforceable for only 30 years. The grant may be renewed for a period not exceeding 30 years from the time of renewal. Lastly, the right of habitation is not transferable by way of inheritance.

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Servitudes Easements

Right of servitude is governed by the civil and commercial code sections 1387 to 1401. Section 1387: 'An immovable property may be subjected to a servitude by virtue of which the owner of such property is bound, for the benefit of another immovable property, to suffer certain act affecting his property or to refrain from exercising certain rights inherent in his ownership'. Servitudes usually involve two or more separate properties/ plots of land, one of which is burdened and the other benefited by the servitude. The burdened parcel is called the servient property and the benefited parcel the dominant property.

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