What is BENEFICIAL INTEREST? Definition of BENEFICIAL INTEREST in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
Profit, benefit, or advantage resulting from a contract, or the ownership of an estate as distinct from the legal ownership or control. People v. Schaefer, 266 Ill. 334, 107 N.E. 617, 619; Christiansen v. Depart ment of Social Security, 15 Wash.2d 465, 131 P.2d 189, 191, 192.
When considered as designation of character of an estate, is such an interest as a devisee, legatee, or donee takes solely for his own use or benefit, and not as holder of title for use and benefit of another. People v. Northern Trust Co., 330 Ill. 238, 161 N.E. 525, 528.
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That's the definition of BENEFICIAL INTEREST in Black's Law Dictionary - Legal dictionary - Glossary of legal terms. Courtesy of Cekhukum.com.