Difference between full ownership, usufruct and other real rights

When we talk about property, it is common to assume that being an owner means having full control over an asset. However, under the Portuguese legal system ownership can take different forms and does not always imply full and exclusive possession.

Knowing concepts such as full ownership, usufruct, easements and other real rights is essential to avoid disputes, make secure transactions and protect assets.

Full ownership: complete title

Full ownership gives the holder three main powers over the asset:

  • To use: occupy or live in the property;

  • To enjoy: obtain income (e.g. by renting);

  • To dispose: sell, gift, mortgage or pass on by inheritance.

It is the “complete” property right, without restrictions other than those imposed by law (zoning, planning rules, etc.).

Usufruct: splitting rights for flexibility

Usufruct divides ownership into two parts:

  • Bare ownership (nuda-propriedade): the formal owner of the property;

  • Usufructuary: the person entitled to use the property and receive its income.

Common example: parents who transfer bare ownership to their children but retain a lifetime usufruct so they can continue to live in the home or receive the rental income.

Usufruct is widely used in estate planning.

Other relevant real rights

  • Easements: a right granted to one property (dominant tenement) to use part of another (servient tenement).
    Example: a right of way across a neighbouring plot.

  • Right of superficies (surface right): allows the construction or maintenance of a building on someone else’s land, separating ownership of the soil from ownership of the building. Common in urban projects and public concessions.

  • Right of use and habitation: similar to usufruct but more limited — it grants only the right to live in or use the property, without the right to rent it out or generate income.

  • Right of first refusal (pre-emption right): a legal right for certain holders (tenants, co-owners, the State) to be offered the property first when it is put up for sale.

Why this knowledge matters

For investors, families and lawyers, understanding these concepts prevents common mistakes:

  • buying property subject to undeclared easements;

  • assuming that ownership equals total control;

  • overlooking estate-planning and tax opportunities using usufruct and bare ownership.

ImoLawyers’ approach

At ImoLawyers we explain these concepts plainly so each client can make informed decisions. Our goal is to protect assets, prevent disputes and craft smart solutions for families and investors.

Real rights are not just legal notions — they are strategic tools to create value.