SECTION 2 - RIGHTS OF THE USUFRUCTUARY

Art. 550. The usufructuary is entitled to the fruits of the thing subject to usufruct according to the following articles. [Acts 1976, No. 103, §1]

Art. 551. Fruits are things that are produced by or derived from another thing without diminution of its substance.

There are two kinds of fruits; natural fruits and civil fruits.

Natural fruits are products of the earth or of animals.

Civil fruits are revenues derived from a thing by operation of law or by reason of a juridical act, such as rentals, interest, and certain corporate distributions. [Acts 1976, No. 103, §1]

Art. 552. A cash dividend declared during the existence of the usufruct belongs to the usufructuary. A liquidation dividend or a stock redemption payment belongs to the naked owner subject to the usufruct.

Stock dividends and stock splits declared during the existence of the usufruct belong to the naked owner subject to the usufruct.

A stock warrant and a subscription right declared during the existence of the usufruct belong to the naked owner free of the usufruct. [Acts 1976, No. 103, §1]

Art. 553. The usufructuary has the right to vote shares of stock unless otherwise provided. [Acts 1976, No. 103, §1]

Art. 554. The usufructuary's right to fruits commences on the effective date of the usufruct. [Acts 1976, No. 103, §1]

Art. 555. The usufructuary acquires the ownership of natural fruits severed during the existence of the usufruct. Natural fruits not severed at the end of the usufruct belong to the naked owner. [Acts 1976, No. 103, §1]

Art. 556. The usufructuary acquires the ownership of civil fruits accruing during the existence of the usufruct.

Civil fruits accrue day by day and the usufructuary is entitled to them regardless of when they are received. [Acts 1976, No. 103, §1]

Art. 557. The usufructuary takes the things in the state in which they are at the commencement of the usufruct. [Acts 1976, No. 103, §1]

Art. 558. The usufructuary may make improvements and alterations on the property subject to the usufruct at his cost and with the written consent of the naked owner. If the naked owner fails or refuses to give his consent, the usufructuary may, after notice to the naked owner and with the approval of the proper court, make at his cost those improvements and alterations that a prudent administrator would make. [Acts 1976, No. 103, §1]

Art. 559. The right of usufruct extends to the accessories of the thing at the commencement of the usufruct. [Acts 1976, No. 103, §1]

Art. 560. The usufructuary may cut trees growing on the land of which he has the usufruct and take stones, sand, and other materials from it, but only for his use or for the improvement or cultivation of the land. [Acts 1976, No. 103, §1]

Art. 561. The rights of the usufructuary and of the naked owner in mines and quarries are governed by the Mineral Code. [Acts 1976, No. 103, §1]

Art. 562. When the usufruct includes timberlands, the usufructuary is bound to manage them as a prudent administrator. The proceeds of timber operations that are derived from proper management of timberlands belong to the usufructuary. [Acts 1976, No. 103, §1]

Art. 563. The usufruct extends to the increase to the land caused by alluvion or dereliction. [Acts 1976, No. 103, §1]

Art. 564. The usufructuary has no right to the enjoyment of a treasure found in the property of which he has the usufruct. If the usufructuary has found the treasure, he is entitled to keep one-half of it as finder. [Acts 1976, No. 103, §1]

Art. 565. The usufructuary has a right to the enjoyment of predial servitudes due to the estate of which he has the usufruct. When the estate is enclosed within other lands belonging to the grantor of the usufruct, the usufructuary is entitled to a gratuitous right of passage. [Acts 1976, No. 103, §1]

Art. 566. The usufructuary may institute against the naked owner or third persons all actions that are necessary to insure the possession, enjoyment, and preservation of his right. [Acts 1976, No. 103, §1]

Art. 567. The usufructuary may lease, alienate, or encumber his right.  All such contracts cease of right at the end of the usufruct.

If the usufructuary leases, alienates, or encumbers his right, he is responsible for the abuse that the person with whom he has contracted makes of the property. [Acts 1976, No. 103, §1]

Art. 568. The usufructuary does not have the right to dispose of nonconsumable things unless the right has been expressly granted to him. Nevertheless, he may dispose of corporeal movables that are gradually and substantially impaired by use, wear, or decay, such as equipment, appliances, and vehicles, provided that he acts as a prudent administrator. Upon disposition, the usufruct is converted into a usufruct of money, and the usufructuary is bound to pay to the naked owner at the end of the usufruct the value that the things had at the time of disposition.

When the usufructuary who has been expressly granted the right to dispose of nonconsumable things sells property subject to usufruct, and there is any tax owed as a result of the sale, the tax shall be paid from the proceeds of the sale. [Acts 1976, No. 103, §1; Acts 1986, No. 203, §1]

Art. 569. If the usufructuary has not disposed of corporeal movables that are by their nature impaired by use, wear, or decay, he is bound to restore them to the owner in the state in which they may be at the end of the usufruct.

The usufructuary is relieved of this obligation if the things are entirely worn out by normal use, wear, or decay. [Acts 1976, No. 103, §1]