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Answer for the clue "Someone who holds property by usufruct ", 12 letters:
usufructuary

Word definitions for usufructuary in dictionaries

Wiktionary Word definitions in Wiktionary
a. Of or pertaining to a usufruct. n. A person who holds property, or the use of assets, by usufruct.

The Collaborative International Dictionary Word definitions in The Collaborative International Dictionary
Usufructuary \U`su*fruc"tu*a*ry\, n. [L. usufructuarius.] (Law) A person who has the use of property and reaps the profits of it. --Wharton.

WordNet Word definitions in WordNet
adj. of or relating to the nature of a usufruct n. someone who holds property by usufruct

Usage examples of usufructuary.

The carpenter might have exacted the rag in return, perhaps for use in the machine shop -- where wiping rags were always needed -- but my father paid, exacted nothing, and even apologized, as carpenters tend to apologize, with embarrassed condescension and a clearing of the throat, and Amsel remained the usufructuary of the garment which, though fragmentary, was susceptible of transformation.