Usufruct agreement
It's the right to use and enjoy an asset that belongs to someone else, who keeps the bare ownership. It's widely used in estate and family planning: gifting a house to your children but reserving the usufruct for life. It can't be perpetual and, on real estate, it's 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 anyone who wants to secure the lifetime use of an asset while transferring ownership, typically parents protecting their home when passing it to their children
- For anyone planning their inheritance during their lifetime
- For anyone who wants to grant the enjoyment of an asset for a period of time while keeping ownership
What's included and what isn't
Everything clear from the start. No fine print.
Includes
- Advice on how to structure the usufruct based on your goal.
- Drafting of the document creating the usufruct, with the rights of the usufructuary and the bare owner, the duration and the conditions.
- Scheduling of the appointment at the notary office.
- Support during the authentication.
- Guidance on recording it at the registry if it's on real estate.
Does not include
- The appraisal of the asset.
- The official registry fee when the usufruct is on real estate, which is paid separately.
- Full tax or estate planning, which we offer as a separate advisory service.
- The notary office's official notary fee, paid separately based on the number of pages.
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 6.
- The details of the owner and of the future usufructuary, cédula (Venezuelan national ID card) or RIF (Venezuelan tax ID)
- The ownership document for the asset
- The identification of the asset
- The intended duration of the usufruct
- And the conditions you want to agree on
- The parties 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, 3 to 5 business days.
- Step 1
Tell us your goal
You tell us whether you want to protect someone, plan an inheritance or grant the enjoyment of an asset.
You do this - Step 2
We set up the usufruct
We advise you and draft the document creating the usufruct.
We do this - Step 3
You sign
We schedule the appointment, confirm the cost, and the parties sign before the notary.
You do this - Result
Done
We hand you the document and, if it's on real estate, we handle its recording.
You receive it
We draft the document creating the usufruct, the parties review it and we schedule the signing. If it's on real estate, it's recorded at the registry afterward.
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 give you each one separately. Our base professional fee, from $60, to advise you, draft the document creating the usufruct and handle its authentication
The official fees, for the notary office and, if it's on real estate, the registry. Official amounts are paid in bolívares at the official BCV (Central Bank of Venezuela) exchange rate Your lawyer gives you the exact figure before you pay anything, no strings attached.
FAQ
What happens if I let my family use an asset without setting up a usufruct?
Their right to use it isn't protected: if the owner sells it or dies, they could end up out on the street. A usufruct secures their lifetime use even if the owner changes.
Can a usufruct be for life?
Yes, for individuals; but not perpetual, and for companies or foundations it can't exceed thirty years.
How much does it cost?
The professional fee, from $60, covers the drafting; on real estate it has to be recorded, and that official registry fee is separate.
Who is the owner?
The bare owner; the usufructuary only uses and enjoys the asset.
Can I reserve the usufruct when making a gift?
Yes, it's very common, for example to protect parents.
About this procedure
A usufruct is a property right in rem that separates two things that normally go together: on one side, the use and enjoyment of an asset, which goes to the usufructuary; and on the other, ownership, which still belongs to the so-called bare owner. The classic and most powerful example is in family planning: parents gift or transfer their house to their children but reserve the usufruct for life, so they make sure nobody can force them out of their home while they're alive, and at the same time they pass on the inheritance early. It's also used to grant the enjoyment of commercial premises, land or other assets for a period of time. The Código Civil (Civil Code) sets important rules: a usufruct can't be perpetual, and if it's created in favor of a legal entity, such as a company or foundation, it can't exceed thirty years. The usufructuary can use and enjoy the asset and even collect its fruits, but must preserve it and return it when the usufruct ends. We draft the document creating the usufruct, making each party's rights and duties, the duration and the conditions clear; and since a usufruct on real estate must be recorded to take full effect against third parties, we coordinate both the notarial authentication and the recording. It's a very valuable estate planning tool when it's done right.
Legal framework and important notes
Ley de Registros y Notarías (Registries and Notaries Law) · Código Civil (Civil Code) · Constitución de la República Bolivariana de Venezuela (Constitution of Venezuela)
- A usufruct is a powerful family and estate planning tool, but it has to be structured well. Define the duration, the duty to preserve the asset and what happens when it ends
- Remember that it isn't perpetual and that on real estate it's recorded at the registry
- Used well, it protects the people you love and puts your inheritance in order during your lifetime
We guarantee our service, not what the agency decides. If something depends on them, we tell you clearly and in time.
Is your case different?Ask us, message us on WhatsApp or book a free consultation. A real person answers you.