"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. It is also referred to as "beneficial enjoyment".[1]
By contrast, "beneficial interest" is where a beneficiary has an interest in a thing ("res"), such as a trust or estate, but does not own the underlying property,[2] usually entitling the beneficiary to some of the income from the underlying property.
Similarly, a beneficial owner 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.[3] For example, companies often hold stocks or bank funds in their names for the benefit of specific people.
References
- ^ Black's Law Dictionary. Pocket (2nd ed.). 2001. p. 236.
- ^ Black's Law Dictionary. Pocket (2nd ed.). 2001. p. 64.
- ^ Black's Law Dictionary. Pocket (2nd ed.). 2001. p. 508.