What is Usufruct and how can it benefit you here in Dubai?

What is Usufruct and how can it benefit you here in Dubai?

Usufruct is the legal right of person who is not the homeowner or legal owner to use and enjoy the use of another persons property. Usufruct is a legal term derived from Roman law which is applied to most property legislation globally. It’s important for expats to understand how Usufructuary Ownership can benefit them.

First and foremost Usufructuary certificates are provided by the DLD - Dubai Land Department which is the government entity overseeing transaction and property related matters according to the law. The person granted Usufructuary has the legal rights for generating an income from a property so instead of a person getting a license to rent out a property legally this perhaps could be a loophole.

Secondly it’s important to note that whilst freehold is now available to expats much presently than in past times, people can still buy usufruct properties which can range from 10 years to 99 years for residential properties and up to 50 years for commercial units. Now if you can buy a property and own it outright it may be much more sensible to do so but if let’s say for instance you’re an investor or simply looking for a commercial space for a certain time span so this may be a good alternative.