Usufruct in Thailand
Usufruct, known locally as "Sidhi-kep-kin," is a legal construct in Thailand that grants a person (the usufructuary) the right to use and enjoy the fruits of another person's property (the naked owner) without owning the property itself. This arrangement is governed by Sections 1417 to 1428 of the Civil and Commercial Code. Crucially, the usufructuary does not acquire ownership of the property. Their rights are limited to using and profiting from it, subject to the condition of maintaining the property's substance. Key Characteristics of Usufruct Temporary Nature: Usufruct is a temporary right. It can be established for a fixed period, for the lifetime of the usufructuary, or for a specific event. Right to Use and Enjoy: The usufructuary has the right to use the property and derive benefits from it, such as rental income or agricultural produce. Obligation to Maintain: The usufructuary is obligated to maintain the property in good condition, as a...