"Beneficial use" is a legal term describing a person's right to enjoy the benefits of specific
property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...
, especially a view or access to light, air, or water, even though title to that property is held by another person. It is also referred to as "beneficial enjoyment".
By contrast, "beneficial interest" is where a
beneficiary
A beneficiary (also, in trust law, '' cestui que use'') in the broadest sense is a natural person or other legal entity who receives money or other benefits from a benefactor. For example, the beneficiary of a life insurance policy is the person ...
has an interest in a thing ("
res
Res or RES may refer to:
Sciences
Computing
*Russian and Eurasian Security Network
*Spanish Supercomputing Network (''Red Española de Supercomputación'')
Energy
* RES - The School for Renewable Energy Science
* US Renewable Electricity ...
"), such as a
trust
Trust often refers to:
* Trust (social science), confidence in or dependence on a person or quality
It may also refer to:
Business and law
* Trust law, a body of law under which one person holds property for the benefit of another
* Trust (bus ...
or
estate, but does not own the underlying property, usually entitling the beneficiary to some of the
income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. For ...
from the underlying property.
Similarly, a
beneficial owner
Beneficial owner is a legal term where 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 i ...
is where specific property rights ("use and title") in equity belong to a person even though legal title of the property belongs to another person.
For example, companies often hold
stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...
s or bank funds in their names for the benefit of specific people.
References
*
Footnotes
Property law
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