The right of usufruct refers to the rights granted under the Civil and Commercial Code whereby the owner of an immovable property (condominium, land and/or house) grants to another person for a limited period of time the right of possession, use and enjoyment, management and benefits the property may produce without destroying, damaging, or diminishing the property.

The owner of an immovable property may burden his real property with the right of usufruct in favour of another person (i.e. foreigner). Usufruct is similar to a registered lease, however usufruct is a real right giving by the right itself control and full management of an immovable property (unless restricted in the contract granting the right of usufruct). Some describe usufruct as temporary ownership, without the right to sell the property.

		It is a personal real right and therefore usufruct is not transferable nor inheritable.
		The right of usufruct will by law end with the death of the usufructuary and the property must be returned to the real owner.
		Registration at the Land Department required to be enforceable.
		Lifetime use and benefit of an immovable property.
		Can be used as protection (e.g. in case immovable property is registered in a Thai spouse's name) in case of divorce, or death of the owner of the property.
		The person granted the right of usufruct has full management, which includes the right to rent out the property under usufruct, including registering the same with the Land Department.
		As a 'real right' it follows the freehold title of the land and is not expired on transfer of the land (e.g. death of the real owner of the land).
		Building and Land tax is not charged if the person granted the right of usufruct uses the property as his residence.

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