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Sub Usufruct Agreement

Opublikowano: sobota, paź 9, 2021

 This article distinguishes between a case where the usufruct merchant and the naked owner are in proportion to the payment of the insurance premium and a case where only the naked owner pays because the usufruct merchant refused 1. Usufruct both on the building and on the land, but the building is destroyed in one way or another before the end of the usufruct period. The usufruct on the building is over, but the usufruct in the countryside continues. Therefore, the owner of the usufruct continues to claim the use of the land and the use of all the materials of the house. Therefore, even if the naked owner wants to rebuild, but the usufruct refuses, it is the holder-usufruct that is necessary for the use of the country is still be for the rest of the period2. Usufruct on the building alone. The usufruct of the building stops, but the usufruct merchant can still use the materials of the house. The owner of the usufruct also has the right to use the land. But it is precisely because there was no usufruct in the countryside that the naked owner has a preferential right to its use This is the third in a series of articles that give an overview of the types of security in Oman. This article focuses on land security, usufruct rights and buildings. During the duration of the usufruct (maximum 50 years, but which can still be extended), all the operations of the owner of the land with the land are subject to the right of usufruct. The usufruct has the right to use the land (for authorized use) and treat it as the owner.

Beyond land ownership, it is the only other land right in Oman that allows you to grant a mortgage. At the end of the usufruct, the land returns to the owner in its original state, unless otherwise provided for in the usufruct contract. However, it is customary to insert in the usufruct agreement a provision according to which the landowner compensates the owner of the usufruct for the increase in the value of the land, as a direct consequence of acts of usufruct, for example. B construction of a hotel on the land, or gives the owner of the usufruct the right to withdraw installations and machinery or to grant an extension or renewal of the duration of the usufruct. Art. 603. The usufruct shall lapse: (1) By the death of the usufruct, unless there is manifestly an intention to the contrary; (2) By the expiry of the period, (3) By merging the usufruct and ownership of the same person; (4) By waiver of the usufruct;5) By the total loss of the usufruct;6) of the person who represents the usufruct; (7) On prescription. (513 bis) Section 570.

If a usufruct is based on the right to rent or periodic annuity, whether in money or fruit, or in interest on bonds or securities to be paid to the bearer, any payment due shall be considered the proceeds or fruit of that right. . . .


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