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. 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. 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. 
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: 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
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