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re: Inheritance question
Posted on 8/4/23 at 5:07 pm to Roscoe
Posted on 8/4/23 at 5:07 pm to Roscoe
quote:
Is doing the usufruct simply a means to ensure your children get your property too in the event that your spouse remarries?
That and it protects the children from if the surviving spouse decided to sell all the assets and give them to her sister or whatever and leave the kids out. Usufruct wouldnt allow the surviving spouse to sell anything, only “use” it. IE live in the house.
Granted, I’m not an attorney, and usufruct is more complex than my simple example.
This post was edited on 8/4/23 at 5:08 pm
1
Posted on 8/4/23 at 5:18 pm to MikeBRLA
quote:
usufruct
Literally means ‘use and fruits’
Ex: proceeds from oil & gas leases, farm leases/rents, rental properties, etc. It’s a protection for all parties, knowing that the kids can’t sell property out from under the surviving spouse and Vice versa. The kids are known as ‘Naked Owners’ or Usufructuaries. Most of the rest of the country uses a ‘Life Estate’ which serves mostly the same purpose, but is English Common Law, not Napoleonic Code.
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