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A Civil Law term referring to the right of one individual to use and enjoy the property of another, provided its substance is neither impaired nor altered.
For example, a usufructuary right would be the right to use water from a stream in order to generate electrical power. Such a right is distinguishable from a claim of legal ownership of the water itself.
West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


Usufruct
The temporary right to use and profit from a property that belongs to another, provided one does not damage the property. For example, a farmer may have usufruct of another person's land. If he grows crops on that land, they belong to the farmer and not the property owner. Only a few jurisdictions in North America recognize usufruct, but it is an important concept in some investment vehicles in Islamic finance.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Real Right
In Louisiana law, any right attached to a property rather than a person. For example, the owner of a property with real rights has usufruct as well as the ability to borrow against the property. Real rights may attach to both real estate and movable property.
Real Right
In the civil law of bourgeois states, there are several forms of a real right, the most important of which is the right of property. In addition, a real right includes the right to use another’s property and extract income from it—the so-called usufruct (France, Italy, and the Federal Republic of Ger-many [FRG]); easements—for example, the right of passage through another person’s plot of land (France, Italy, the FRG, and Japan); the right of lien on movable or immovable property (France, the FRG, Great Britain, the USA, and Japan); the building lease (the FRG) and, similar to this institution, the concept of superficies in the law of Italy and Japan, where there is also a real right of engaging in agriculture on a plot of land belonging to another person (emphyteusis); and estate service (the FRG)—the right to periodic payments in money or kind for a given plot of land. All these real rights may arise as a result of a contract concluded by the owner or on the basis of the will of a legator or a contract concluded by a previous owner of the property. In the civil law of Great Britain and the USA all forms of a real right, with the exception of the right of lien, are regarded as different kinds of the right of property.