When we make the Income statement or we are in the process of processing an inheritance, terms arise whose meanings we must be very clear. Among these technical terms, usufructuary and lessee are two basic concepts that we must differentiate correctly.
The person who has the right to use and enjoy a certain asset, without being the owner of it, is known as usufructuary. Article 467 of the Civil Code defines this figure as follows: “The usufruct gives the right to enjoy the property of others with the obligation to preserve its form and substance, unless the title of its constitution or the law authorizes otherwise.”
In the case of a home, it is the one who resides in it without being owned by it. You have the right to enjoy the property -or the property- temporarily or for life and do not pay rent, although you do not have the right to sell it. Despite not being the owner, you can enjoy the property until the date of your death.
Among the obligations of the usufructuary is to assume the costs of water, electricity and gas, as well as the real estate tax (IBI), whether the ownership of the home is public or private, but, unlike an owner, it is not You have to face the expenses of the community of neighbors or any spill that is made to improve the accesses to your home.
Among the other obligations, according to the Civil Code, “the usufructuary, before entering into the enjoyment of the assets, is obliged to form, with the summons of the owner or his legitimate representative, an inventory of all of them, having the furniture appraised and describing the state of the properties and, on the other hand, to provide a bond, committing to comply with the obligations that correspond to it in accordance with this section”. In addition, he must assume the expenses, costs and sentences of the lawsuits sustained over the usufruct.
Another aspect to highlight is that, in the event of the death of the bare owner, it will be the heirs who become the new owners of the usufruct, having to assume all tax and notarial responsibilities to assume ownership of the property.
The RAE dictionary defines “leasing” as “assigning or acquiring for a price the enjoyment or temporary use of things, works or services. For its part, article 1,546 of the Civil Code, specifies the meaning of landlord as the person” who obliges to cede the use of the thing, execute the work or provide the service” and the tenant to whom “acquires the use of the thing or the right to the work or service that is obliged to pay”.
Thus, a tenant is one who acquires the right to use the property or property (it can be a home, a garage or a warehouse) in exchange for a recurring payment, according to the agreed terms and amount, to the lessor. during the term of the rental or lease contract.
In addition to paying the rent, the tenant has other obligations:
According to the criteria of The Trust Project