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)?
Distance@WildWillpower.org.
We look forward to hearing from you!