Civil Code (Cap. 16)

Civil Code (Cap. 16), article 352

Official PDF on legislation.mt

352. (1) It shall likewise be unlawful for the usufructuary, unless he has been exempted by th e act creating the usufruct, t o commence to exercise his rights over the things subject to the usufruct before he has given security that he will enjoy the th ings so subject as a bonus paterfamilias , that he will restore the movables, refund the values of the things mentioned in article 329, and make good any damage that might happen through his negligence whether to the movables or to the immovables. (2) The sum of the security, fo r the purposes of the hypothecary registration, shall be regulated by the amount of the capitals that are to be delivered to the usufru ctuary or that may be restored to him during the usufruct, by the value of the movables, and by t he cost of such repairs in the immov ables as may probably be requi red during a period of five years an d as are, according to law, at the charge of the usufructuary. (3) It shall be lawful for the c ourt, according to circumstances , to fix a lesser sum; and in such case, should the sum of the se curity be spent or become insufficient before the termination of the usufruct, the usufructuary shall be bound to give a further sec urity, and, in default, the provisi ons of article 355 shall apply. Persons who are not bound to give security.

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Text read from the consolidated PDF published by Legislation Malta. Tables, figures and marginal notes may be incomplete or out of place: the official PDF is authoritative. General information, not legal, tax or accounting advice.