Usufructo

The right to use someone else's property and keep its fruits — living in it or collecting its rent — without owning it: ownership belongs to the bare owner. It can be for life (most common: the widowed spouse who inherits the usufruct of the family home) or temporary. Its tax value follows fixed rules: a life usufruct is worth 89 minus the usufructuary's age (as a percentage of the property's value, minimum 10%, maximum 70%); a temporary one, 2% per year of duration, capped at 70%. The usufructuary pays ordinary expenses, the IBI and upkeep repairs; extraordinary works fall to the bare owner. They may rent the property out and keep the income, but not sell it. The right ends with death or the agreed term, and the bare owner then recovers full ownership.