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Under ancient common law principles, a trust could not exist unless there was at least some "title split" – that is, the same person cannot generally hold all legal and all equitable title at the same time. If the legal and equitable title merge in the same person, the trust is considered nonexistent under the so-called merger doctrine. [96]
Equitable interest is a right against a right, rather than right against a thing or right against a person. Whenever a party B has a right against a right of another A, B's right is prima facie binding on anyone who acquires a right that derives from A's right. B will acquire such a persistent right whenever A is under a duty to hold a specific ...
In domestic and international commercial law, a beneficial owner is a natural person or persons who ultimately owns or controls an interest in a legal entity or arrangement, such as a company, a trust, or a foundation. [1] Legal owners (i.e. the owners on the record), commonly described as the "registered owners", may hold those interests as ...
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Chief Justice Paul Wilson called on judges and attorneys in the state to 'push back' against those aiming to undermine the legal system. 'On a knife's edge' - Missouri's top judge warns of eroding ...
In trust law, a beneficiary (also known by the Law French terms cestui que use and cestui que trust), is the person or persons who are entitled to the benefit of any trust arrangement. A beneficiary will normally be a natural person , but it is perfectly possible to have a company as the beneficiary of a trust, and this often happens in ...
Personal trust law developed in England at the time of the Crusades, during the 12th and 13th centuries. In medieval English trust law, the settlor was known as the feoffor to uses, while the trustee was known as the feoffee to uses, and the beneficiary was known as the cestui que use, or cestui que trust .
As the weather gets colder, you may dread stepping into a chilly car. But authorities warn that leaving your vehicle running while unattended can lead to theft — and in some places it is against ...