Waiver of usufruct
The person who holds the usufruct of an asset, the right to use it and enjoy what it produces, gives up that right, and the owner (the bare owner) regains full ownership. When the asset is real estate, the waiver has to be recorded at the registry.
Requesting a quote doesn't commit you to anything
- You tell us about your case. It's free.
- We send you the price in writing, within 1 to 3 hours.
- You decide. If it works for you, we start. If not, you delete it with one click and pay nothing.
No one will pressure you. Your information is used only for your case.
Is it for you?
If any of these sounds like you, this procedure is for you.
- For the usufructuary who decides to give up their right of use and enjoyment, and for families planning their estate who want the bare owner to consolidate full ownership of an asset
What's included and what isn't
Everything clear from the start. No fine print.
Includes
- Review of the usufruct and how it's documented.
- Explanation of how ownership gets consolidated.
- Drafting of the waiver.
- Scheduling of the appointment at the Notaría Pública (government notary office).
- Guidance on the later registration if the asset is real estate.
Does not include
- Recording the waiver at the Registro Inmobiliario (Real Estate Registry) and its official registry fees, when the asset requires it (handled separately).
- The official notary fees, which are paid per page.
Add to your procedure
Check it and we include it in your quote. You decide at the end.
What you need
Check off what you already have. You don't need everything to request your quote.
You have 0 of 4.
- The document that created the usufruct
- The details of the usufructuary and the bare owner
- Identification of the asset
- And your valid cédula (Venezuelan ID card), because you must appear and sign in person before the notary
How the process works
You do very little. We take care of the rest. The whole process: on average, 2 to 4 business days.
- Step 1
Show us the usufruct
You show us how the usufruct was created.
You do this - Step 2
We consolidate ownership
We explain the effect and draft the waiver with the consolidation of ownership.
We do this - Step 3
You sign
We schedule the appointment and you sign with your cédula before the notary.
You do this - Result
Done
We hand you the document and guide you on registration if the asset is real estate.
You receive it
For the notarized document, we draft it, the parties review it and it's signed before the notary, a public official. If the asset is real estate, the later registration takes its own time.
What it costs and how to pay
There are two separate payments, and we want you to see them clearly.
Our fee: we do all the work for you.
The official notary fee. It goes straight to the agency, and we give you the exact amount, with its receipt, before you pay anything.
How you pay: You pay once, when we start. In dollars, in bolívares at the official BCV exchange rate, or with Cashea.
How is your investment calculated?
Your investment has two parts, and we tell you about each one separately. Our base professional fee, from $45, for reviewing the usufruct, drafting the waiver with the consolidation of ownership and handling the authentication
The official notary fee, which is calculated per page and paid in bolívares at the official BCV (Central Bank of Venezuela) exchange rate on the day of the procedure Your lawyer gives you the exact figure before you pay anything, no strings attached.
FAQ
What happens if I don't formalize the waiver of usufruct?
The owner is stuck with limited ownership: they can't use, rent out or sell the asset free and clear, even if you no longer use it. A formal waiver gives them back full ownership.
What does the owner gain from my waiver?
They consolidate full ownership: they regain the use and enjoyment of the asset.
How much does it cost?
The professional fee, from $45, covers drafting and authentication; the official notary fee is separate, and if it has to be recorded at the registry, that registration is handled as a separate service.
Is it irrevocable?
As a rule, yes.
Does it have to be recorded at the registry?
If the usufruct is on record at the registry (typical with real estate), yes. You go in person, with a valid cédula.
About this procedure
A waiver of usufruct is the act in which the usufructuary, meaning the person who has the right to use an asset and enjoy what it produces even though they don't own it, voluntarily gives up that right. The effect is important and much sought after: when the usufruct ends, the bare owner (the owner of the asset, who until then couldn't fully enjoy it) consolidates full ownership and regains the use and enjoyment of the asset. It's widely used in family and estate planning: for example, when a property was given as a gift at some point with the giver keeping the usufruct, and later the usufructuary decides to waive it so the new owner has full ownership; or when you want to simplify an asset's situation before a sale. Like any waiver, it's a unilateral and voluntary act, and keep in mind that it's usually irrevocable. The practical point where we save you headaches: when the usufruct is over real estate and is on record at the registry, the waiver normally has to be recorded too, so the end of the usufruct can be enforced against third parties and the property shows up free of that encumbrance. We draft the waiver making clear that the usufruct ends and ownership is consolidated, get it authenticated, and guide you on the registration when it applies. If you want to renounce an entire inheritance, take a look at the Renunciation of inheritance; if it's a specific right, the Waiver of rights.
Legal framework and important notes
Ley de Registros y Notarías (Registries and Notaries Law) · Código Civil (Civil Code)
- When the usufruct is over real estate and it's registered, authentication isn't enough. The waiver has to be recorded so the encumbrance disappears as far as third parties are concerned
- Don't leave that step half done, because it's what truly frees the property
We guarantee our service, not what the agency decides. If something depends on them, we tell you clearly and in time.
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