"Beneficial use" is a legal term describing a person's right to enjoy the benefits of specific property, especially a view or access to light, air, or water, even though title to that property is held by another person.[citation needed] It is also referred to as "beneficial enjoyment".[1]
By contrast, "beneficial interest" is where a beneficiary has an interest in a thing ("res"), such as a trust or estate, but does not own the underlying property,[2] usually entitling the beneficiary to some of the income from the underlying property.
Similarly, a beneficial owner is where specific property rights ("use and title") in equity belong to a person even though legal title of the property belongs to another person.[3] For example, companies often hold stocks or bank funds in their names for the benefit of specific people.
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Transcription
References
- Black's Law Dictionary. Pocket (2nd ed.). 2001.
Footnotes
- ^ Black's 2001, p. 236
- ^ Black's 2001, p. 64
- ^ Black's 2001, p. 508
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This page was last edited on 16 May 2023, at 21:15