What is Naked Ownership?
Louisiana law divides ownership into three primary categories--the right to use the property, right to fruits (e.g., rents, crops, etc.), and the right to abuse (e.g., to lease, encumber, sale, etc.). While this is not uncommon, the Louisiana civil law uses a different terminology from other common law jurisdictions. Specifically, the right to use and fruits are commonly referred to as the usufruct (from the latin usus and fructus), while someone who only has the right to abuse is said to have naked ownership.
The information and opinions on Naked Ownership are not legal advice, but are posted purely for purposes of information and entertainment. If you need legal help, consult an attorney licensed in your state or jurisdiction. Any opinion expressed on Naked Ownership is solely the off-the-cuff opinion of its author and is probably made without the benefit of any legal research.
Copyright 2002-2004, Al Robert, Jr.