re: Inheritance question

quote:

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usufruct

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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.