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Beneficial owners hold specific property rights ("use and title") in equity belong to a person even though legal title of the property belongs to another person. 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 ...
A beneficial interest is the right that a person has arising from a contract to which they are not a party, or a trust. [1] For example, if A makes a contract with B that A will pay C a certain sum of money, B has the legal interest in the contract, and C the beneficial interest.
Beneficial use" is a legal term describing a person's right to enjoy the benefits of specific property, especially a view or access to light, air, or water, even though title to that property is held by another person. [citation needed] It is also referred to as "beneficial enjoyment". [1]
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]
Prior appropriation rights are subject to certain adverse possession-type rules to reduce speculation. [9] Withdrawal rights can be lost or shrunk over time if unused for a certain number of years, or if a litigant can demonstrate that the water's use is not beneficial.
Usufruct (/ ˈ j uː z j uː f r ʌ k t /) [1] is a limited real right (or in rem right) found in civil law and mixed jurisdictions that unites the two property interests of usus and fructus: Usus (use, as in usage of or access to) is the right to use or enjoy a thing possessed, directly and without altering it.
[1] [page needed] In the US where Cede & Co. is the street name holder, therefore, all beneficial rights such as voting rights and dividends flow first to the nominee holder Cede, and then are passed onward, and ultimately to the beneficial owners. [2] In the United Kingdom this is known as holding shares in a nominee account.
A resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to hold the property for the benefit of another person.