beneficial interest

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 1 Rev ed Inher T § 388; such an interest as a devisee 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 a power 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.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • beneficial interest — see interest 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. beneficial interest …   Law dictionary

  • beneficial interest — ➔ interest * * * beneficial interest UK US noun [C or U] ► LAW, FINANCE the right to receive income, profits, interest, etc. from a business, contract, or investment: »He has a beneficial interest in 17,000 shares in the company. ► LAW, PROPERTY… …   Financial and business terms

  • Beneficial interest — A beneficial interest is that right which a person has in a contract made with another (third) person. [ [http://www.lectlaw.com/def/b092.htm The Lectric Law Library s Lexicon] ] The typical example is if A makes a contract with B that he will… …   Wikipedia

  • beneficial interest — The right to the use and enjoyment of property, rather than to its bare legal ownership. For example, if property is held in trust, the trustee has the legal title but the beneficiaries have the beneficial interest in equity. The beneficiaries,… …   Big dictionary of business and management

  • beneficial interest — /bɛnəˈfɪʃəl ɪntrəst/ (say benuh fishuhl intruhst) noun Finance an interest in a property, as in the property of a trust, held by a beneficiary to the trust. Compare equitable interest …   Australian English dictionary

  • beneficial interest —    An individual s right to some profit, distribution or benefit from a contract or trust. Such an interest is different from the rights of a trustee, who has responsibility for certain assets, but who does not directly share in the benefits …   Business law dictionary

  • beneficial interest — legal right that does not stem from ownership of assets …   English contemporary dictionary

  • beneficial interest — /ˌbenɪfɪʃ(ə)l ɪntrəst/ noun a situation where someone is allowed to occupy or receive rent from a house without owning it …   Dictionary of banking and finance

  • contingent beneficial interest — See contingent interest …   Ballentine's law dictionary

  • beneficial — ben·e·fi·cial /ˌbe nə fi shəl/ adj 1: providing benefits or advantages 2: receiving or entitling one to receive an advantage, benefit, or use a beneficial shareholder a beneficial estate ben·e·fi·cial·ly / shə lē/ adv …   Law dictionary

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