535

Usufruct is a real right of limited duration on the property of another. The features of the right vary with the nature of the things subject to it as consumables or nonconsumables

544

may be estalished by juridical act, either inter vivos or mortis causa, or by operation of law. the usufruct created by juridical act is called conventional; the usufruct created by operation of law is called legal.

544

all kinds of things, movable or immovable, corporeal or incorporeal

5 examples of juridical conventional usufruct

1. The 890 Usufruct: Surviving spouse gets a legal usufruct if community property.

2. Parents have "usufruct" over minor child's property 

3. Parents get joint and successive usufruct and siblings get naked ownership when a kid without a wife dies

4. Marital Portion: comparatively poor spouse gets a child's share in usufruct when not community property

5. Widow's privilege.

consumables

536

consumable things are those that cannot be used without being expended or consumed, or without their substance being changed, such as money, harvested agricultural products, stocks of merchandise, foodstuffs, and beverages

537

nonconsumable things are those that may be enjoyed without alteration of their substance, although their substance may be diminished or deteriorated naturally by time or by the use to which they are applied, such as lands, houses, shares of stock, animals, furniture, and vehicles

538

if the things subject to the usufruct are consumables, the usufructuary becomes owner of them. he may consume, alienate, or encumber them as he sees fit. at the termination of the usufruct he is bound to pay to the naked owner either the value that the things had at the commencement of the usufruct or deliver to him things of the same quantity and quality.

yes

Vivian State Bank v. Thomason-Lewis Lumber

pledged CD for debt

generally, no

Leury v. Mayer (stock shares case)

exception: express statement under 568.1

yes: 568.1

Michelle v. Knox: sold all of the immovables in her house (she was sneaky-she bought them back)

yes

BUT be wary of article 1520 prohibited substitution