(1) The provision of
usufruct shall be deemed to be extinguished in any of the following
circumstances:
(a) In the event of expiration of the validity period of
usufruct pursuant to Section 363,
Explanation: For the purposes of this Chapter, the
term 'expiration of the validity period' means:
(1) If more than one natural person are usufructuary,
the usufruct shall be deemed to be terminated on
the date on which the last survivor usufructuary
dies.
(2) If more than one legal person are usufructuary,
the usufruct shall be deemed to be terminated on
the date on which the last usufructuary legal
person is dissolved.
(b) In the event of return of the property on the
cancellation of usufruct pursuant to Section 364,
(c) In the event of return of the property in usufruct by the
usufructuary pursuant to Section 365,
(d) In the event, except for a reasonable reason, of the
failure of the usufructuary to enjoy the property in
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usufruct until six months after the date on which the
provision of usufruct became effective,
(e) In the event of the accomplishment of the special
purpose for the accomplishment of which the provision
of usufruct has been made,
(f) In the event that the property obtained under the
provision of usufruct is transferred to the usufructuary
in accordance with law,
(g) In the event of total loss of the property obtained under
the provision of usufruct.
(2) In the event of the extinguishment of the provision of
usufruct pursuant to sub-section (1), the property given to any
person in usufruct shall ipso facto devolve on the owner except in
the circumstance set forth in clause (f) or (g).
(3) Notwithstanding anything contained in sub-section (1)
or (2), if a property is given in usufruct on the condition that it shall
remain valid until any person attains a certain age, the provision of
usufruct shall remain valid until the date on which the person
attains that age even if the person dies before the date of attainment
of such age, as if he or she were surviving.