USUFRUCT AGREEMENT IN THAILAND

Usufruct contracts are governed by sections 1417 to 1428 of the Commercial and Civil Code of Thailand. A usufruct is a right granted by the owner(s) of the land/house in favor of a usufructuary whereby this person has the right to possess, use and enjoy the benefits of an immovable property (section 1417 CCCT). The usufructuary has the right to manage the property (sect 1414 CCCT). It can be on a piece of land, on a house or on both of them.

A usufruct is a real right (real means in civil law = attached to a thing) that originates from Roman and Civil law. The holder of a usufruct, known as “usufructury”, has the right to use, possess and enjoy the property, as well as the right to receive profits from the fruits of the property. The usufructuary could be a person or an entity (ex: a company). In Thailand, a usufruct can be granted for a period of time (Max 30 years) or for the rest of the life of a living person. It always ends at the death of the usufructuary but come contracts concluded by the usufructuary can survice him.

Read more about usufruct in Thailand:

• Usufruct agreements in Thailand
• Civil Code about Usufruct agreement

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