Ma`rifat Eqtesadi

Usufruct Bonds are a new means for Islamic capital market, which can be used to transfer interests and services, specially public services and facilities. One of the problems of these Bonds is the legal problems related to the possibility of their exchange. The present paper studies the possibility of rectification of these Bonds using rent contract in their regulation in order to rectify these Bonds. The hypothesis is that Usufruc can be purchased in primary and secondary markets through different methods as rent contract. A legal and analytical method is used in this paper. The research findings indicate that using rent contract can lead to legal rectification of transferring Usufract Bonds. It proposes some suggestions to rectify the exchange of Usufract Bonds including partial rent, transferring Bonds in secondary market except through rent contract, parallel rent, transferring by proxy, right of key- money, settlement of rent, sale by verbal agreement, Key-money, and rent and sale.