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Beneficial owner is subject to a state's statutory laws regulating interest or title transfer. [2] This often relates where the legal title owner has implied trustee duties to the beneficial owner. [clarification needed] A common example of a beneficial owner is the real or true owner of funds held by a nominee bank.
Black's Law Dictionary defines beneficial interest as "Profit, benefit or advantage resulting from a contract, or the ownership of an estate as distinct from the legal ownership or control." [3] [4] Examples of beneficial interests in mining claims include unrecorded deeds and agreements to share profits, but not mortgages and other liens. [5]
Other research has indicated a synergy between a benefit corporation and employee ownership. [9] As a matter of law, in the 36 states that recognize this form of business, a benefit corporation is intended "to merge the traditional for-profit business corporation model with a non-profit model by allowing social entrepreneurs to consider ...
A beneficial shareholder is the person or legal entity that has the economic benefit of ownership of the shares, while a nominee shareholder is the person or entity that is on the corporation's register of members as the owner while being in reality that person acts for the benefit or at the direction of the beneficial owner, whether disclosed or not.
In law, an equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary". [1]
This use of "result" means spring back: [1] on the face of it the property in question has been transferred to the recipient (and indeed it has come into the recipient's legal ownership), but the legal owner is not permitted to benefit from it, and so beneficial ownership of the property springs back to the settlor.
Nucla became the first city to mandate gun ownership in Colorado. With just around 700 people, Nucla passed what they call the "Home Protection Ordinance" in 2013, but does not actually enforce it. 4.
A nominee trust is a legal arrangement whereby a person, termed the settlor, appoints another person, termed the "nominee" or "trustee", to be the owner of the legal title to some property. [1] Although the legal title is transferred to the nominee, the beneficial ownership of the property is transferred to a third person, termed the ...
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