My son passed away. He was married and had a daughter. My daughter-in-law opted for the usufruct of the entire estate of her late husband, which only includes money. The notary told my granddaughter that she would not receive the money ...

... from this inheritance until her mother passed away. Is this true?

Yes. In theory, the usufructuary cannot dispose of the property of the concerned usufruct. However, the Civil Code allows an exception when the usufruct includes elements that cannot be used without consuming them, such as money. In which case, the usufructuary can use them, provided that he "return" the estimated value on the date of restitution, i.e., at the end of the usufruct (art. 587 C. civil). To this end, the usufructuary must provide a deposit, unless exempted from it by the deed which makes up the usufruct (art. 601 C. civ.). Therefore, as long as the usufruct lasts, the bare owner cannot collect the sums appearing in the bank accounts of the deceased.