Clifford Chance
Transformation of perpetual usufruct right into ownership title
19 March 2013
Perpetual usufruct right is an intermediate right between ownership title and a restricted right in rem (such as usufruct or an easement or pledge). Despite its advantages, perpetual usufruct right has a number of shortcomings, such as the requirement to pay annual fees and the fact that it is limited in time (generally to 99 years from the time it is granted).
However, perpetual usufructuaries do have a statutory right to transform their perpetual usufruct right into full ownership title and the procedure for this is summarised in this briefing.
