This page is continued from Ownership >>>> Interest:
************************
beneficial interest:
(18c)
1. A right or expectancy in something (such as a trust or an estate), as opposed to legal title to that thing. * For example, a person with a beneficial interest in a trust receives income from the trust but does not hold legal title to the trust property. [1]
1. An expression with variable meaning, dependent on the context in which it appears; that which remains of the estate of a decedent after the payment of debts and the expenses of administration. 28 Am JRev ed Inher T § 388; such an interest as a devise takes solely for his own use or benefit, and not as the mere holder of the title for the use of another. People v McCormick, 208 Ill 437, 70 NE 350; the right of one having an owner of appointment to appoint himself. 41 Am J1st Pow § 3; the interest in a tract of land, the title to which is in the government, of one who has done everything to entitle him to a patent not yet issued by the government to him. Montana Catholic Missions v Missoula County, 200 US 118, 127, 50 L Ed 398, 402, 26 S Ct 197; an interest that will result in an appreciable gain to the holder. Cox’s Appeal, 126 Me 256, 137 A 771, 53 ALR 208; an interest of value, worth, advantage, or use. Re Duffy, 228 Iowa 426, 292 NW 165, 128 ALR 943. [2]
1. An interest of value, worth, or use in property one does not own. EXAMPLE: the interest that a beneficiary of a trust has in the trust.
2. A property interest that inures solely to the benefit of the owner.
3. That which remains of the estate of a decedent after the payment of debts and the expenses of administration.
4. The right of a person having a power of appointment to appoint himself. [3]
References:
Disclaimer: All material throughout this website is compiled in accordance with Fair Use.
[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4
[2]: Ballantine’s Law Dictionary with Pronunciations Third Edition by James A. Ballantine (James Arthur 1871-1949). Edited by William S. Anderson. © 1969 by THE LAWYER’S CO-OPERATIVE PUBLISHING COMPANY. Library of Congress Catalog Card No. 68-30931
[3]: Ballantine’s Law Dictionary Legal Assistant Edition
by Jack Ballantine (James Arthur 1871-1949). Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning. ISBN 0-8273-4874-6.
************************
Back to Interest
Back to Ownership
Back to Property
Like this website?
Offer a contribution to Wild Willpower PAC
Disclaimer: Wild Willpower PAC does not condone the actions of Maximilian Robespierre, however the above quote is excellent!
This website is being broadcast for First Amendment purposes courtesy of
Question(s)? Suggestion(s)?
[email protected].
We look forward to hearing from you!