Beneficial Interest

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Beneficial Interest

Profits or advantages from property derived from the terms of a trust agreement.

A beneficiary of a trust has a beneficial interest in the trust property, the legal title of which is held by the trustee. The beneficiary receives the advantages of ownership of the property which the trustee holds and distributes according to the terms of the trust agreement.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

beneficial interest

n. the right of a party to some profit, distribution, or benefit from a contract or trust. A beneficial interest is distinguished from the rights of someone like a trustee or official who has responsibility to perform and/or title to the assets, but does not share in the benefits. (See: contract, trust)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

BENEFICIAL INTEREST. That right which a person has in a contract made with another; as if A makes a contract with B that he will pay C a certain sum of money, B has the legal interest in the contract, and C the beneficial interest. Hamm. on Part. 6, 7, 25 2 Bulst. 70.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
The Board of Directors also authorized, and the Company has declared, a regular quarterly cash dividend of $0.50 per share of beneficial interest of the Company's 8.0% Series B Cumulative Redeemable Perpetual Preferred Stock.
Council investigators stated: "Councillor Rouf has stated that the inaccuracy was as a result of his misunderstanding of the definition of Beneficial Interest in this context."
Accordingly, every Public Limited Company will have to file records of such beneficial interest in the share, warrant or any other interest along with the personal details of the individual concerned with the Registrar of Companies annually along with the annual returns of the company.
Besides, in his concise statement, the respondent had clearly stated that he had no beneficial interest in the trust arrangement, but in a May 5, 2011 trust deed placed before the court by Mr Tareen himself, he was the 'discretionary lifetime beneficiary' along with his spouse.
He provided definitions of beneficial interest from various books, including Black's Law Dictionary and the references of the Indian and Privy Council courts.
Fourth quarter adjusted earnings are projected to range between $1.13 and $1.23, which excludes a charge of about 2 cents to reduce the beneficial interest asset and any future data-breach related expenses.
"In the event of holding/obtaining Access spectrum, no licensee or its promoter(s) directly or indirectly shall have any beneficial interest in another licensee company holding 'Access Spectrum' in the same service area," say the new Unified Licence (UL) rules announced by the Department of Telecommunications.
The completion of the transaction would give IP Group and its managed funds a combined 17.6% beneficial interest in Tissue Regenix.
Modification of the governing instrument of an exempt trust by judicial or non-judicial reformation, that is valid under state law will not cause an exempt trust to be subject to transfer tax provisions if (1) the modification does not shift a beneficial interest in the trust to any beneficiary who occupies a lower generation than the person or persons who held the beneficial interest prior to the modification, and (2) the modification does not extend the time for vesting of any beneficial interest in the trust beyond the period provided in the original trust.
Typically, the beneficial interests in the family compound trust are divided into classes representing the separate family groups, with each family group owning certificates of beneficial interest, or CBIs, which are similar to shares of stock in a corporation.
- The Backreef-1 well was drilled to at least 1500m by 31 October 2010 and accordingly a 100% beneficial interest in the Backreef Area, Canning Basin, Western Australia has been earned.
Banks and other financial institutions often have substantial holdings of such financial instruments as a result of the widespread practice of loan securitization, in which the owner of a portfolio of loans receivable issues securities that give the security holders a beneficial interest in the loans, that is, the right to receive principal and/or interest collected on the loans.