Louisiana Revised Statutes 31:192 – Right of usufructuary of land to grant lease
Terms Used In Louisiana Revised Statutes 31:192
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
If the land subject to the usufruct, or any part thereof, is subject to a lease granted by the landowner prior to the creation of the usufruct, the usufructuary is entitled only to royalties on actual or constructive production allocable to him under Article 191. If such a lease terminates, or if the land or any part thereof is not under lease at the time the usufruct is created, the usufructuary’s right of use and enjoyment includes the right to execute leases as to any rights to which the usufructuary is entitled under Article 190 and, accordingly, to retain bonuses, rentals, or other payments, or the proportionate part thereof, allocable to his interest under Article 191. Such a lease executed by the usufructuary shall not extend beyond the period of his usufruct.
Acts 1974, No. 50, §192, eff. Jan. 1, 1975; Acts 2023, No. 88, §1.