What are the responsibilities of a usufructuary in inherited property?

Full question:

I just received notice that I inherited a property deed in Kiln, Mississippi with eight other equal heirs. One of the 8 has usufruct . What are his responsibilities with the property? Is he solely responsible for all property taxes and expenses while he uses it or are other owners equally responsible? When owner with usufruct dies can one of the others force a sale or must all agree before it is sold?

  • Category: Real Property
  • Subcategory: Joint Tenants
  • Date:
  • State: Texas

Answer:

The term "usufruct" refers to the right to enjoy and benefit from a property owned by someone else. The person with this right is called a "usufructuary." The usufructuary is responsible for taking care of the property and must pay any taxes or claims that arise during their use, unless a contract states otherwise. They are also responsible for ordinary repairs at their own expense.

Regarding the sale of the property, whether consent from other owners is needed depends on how the ownership is structured. If the owners are joint tenants, all must agree and sign to sell the property. However, if they are tenants in common, one owner can sell their interest without needing consent from the others.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Yes, a property deed can override a will if the deed specifies a transfer of ownership that is effective immediately. If a property is transferred via a deed, it typically takes precedence over any conflicting provisions in a will. This means that if the property was deeded to someone during the owner’s lifetime, it will not be part of the estate that is distributed according to the will.

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