Extinguishment of usufruct

(1) Unless provided to the contrary, the usufruct constituted by agreement or by will in favour of several persons jointly, extinguishes upon death of the last surviving usufructuary. (2) Without prejudice to the provisions hereinabove, usufruct shall not exceed the life of the usufructuary; where it is constituted in favour of a body having legal personality, the usufruct shall last for a period of 30 years only.