Usufruct is one of the rights first recognised in the 2015 Civil Code of Vietnam, which took effect on 1 January 2017. Nevertheless, the relevant legal provisions remain limited and ambiguous, giving rise to differing interpretations—particularly concerning whether usufruct constitutes a property right. This article approaches the issue from the perspective of property law, grounded in the theoretical distinction between real rights and personal rights, and with reference to comparative legal systems. On that basis, the article affirms the nature of usufruct as a property right. Furthermore, the article examines the practical implications of usufruct in Vietnam and highlights the legal and economic benefits of its recognition as a distinct asset under civil law, thereby concluding with specific recommendations on the legal acknowledgment and regulation of usufruct as a form of property in Vietnam’s civil legislation.
