Definition of Nuda Property

The term of this entry must be located within the scope of the right and, more specifically, in relation to the idea of ​​property.

From a legal point of view it is possible to speak of two types of properties: full ownership and bare ownership. Suppose someone acquires a specific good, a car. This acquisition implies that the owner of the vehicle can do what he deems appropriate with it (not use it, drive it normally, give it to someone else or sell it completely Liberty). In other words, you can dispose of the vehicle as you see fit because the ownership of it is absolute.

On the contrary, when an asset is acquired, there may be a self-limitation of ownership of it. Let's take an example: I buy a house and to avoid paying the tax I decide to put it in the name of my children. Given this hypothetical situation, you could include a clause in the writing of the house according to which the person who has the right to use the house would be myself, although legally the owners are my children. Well, in this circumstance the naked property would be produced.

Bare ownership is a legal limitation of full ownership. This legal aspect is common in most civil codes. Whoever owns the bare ownership of something is in a usufructuary situation, that is, he can enjoy a good even if he is not the full owner of it.

Relationship between usufruct and bare ownership

The usufruct allows to enjoy and dispose of a foreign asset but with the obligation to preserve it properly. The usufruct can be constituted in favor of a single person or more than one and in both cases it can be temporary or life-long. In this sense, usufruct is the consequence of bare ownership. From a legal point of view, establishing the bare ownership requires a calculation of the value of the property. To do this, the value of the property is calculated (for example, a specific house) taking as a reference the rental market prices and that value must be subtracted from the estimated value of the usufruct. In this way, the end result is the value of the bare property. This means that the assessment Of the naked property is not free but is conditioned by what the legal framework in force establishes. In this sense, in the tax law the rules are specified and procedures related to the valuation of the bare property.

On the other hand, there are also other similar situations legally, specifically the right of use and the right of habitation.

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