TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

BENEFICIAL OWNERSHIP INTEREST [2 records]

Record 1 2013-03-18

English

Subject field(s)
  • PAJLO
  • Property Law (common law)
CONT

One cognizable or enforceable in a court of law or one which is complete and perfect so far as regards the apparent right of ownership and possession, but which carries no beneficial interest in the property, another person being equitably entitled thereto; in either case, the antithesis of "equitable title".(Black's, 5th ed., 1979, p. 807).

French

Domaine(s)
  • PAJLO
  • Droit des biens et de la propriété (common law)
OBS

titre en common law : terme normalisé par le Comité de normalisation dans le cadre du Programme national de l'administration de la justice dans les deux langues officielles (PAJLO).

Spanish

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Record 2 2013-03-15

English

Subject field(s)
  • PAJLO
  • Property Law (common law)
OBS

The essential difference between legal and equitable rights is best understood by comparing absolute ownership with trusts....(A) t this point it is only necessary to appreciate that trusts were unenforceable at common law. If land was conveyed to A in fee simple upon trust for B in fee simple, the common law courts regarded A as absolute owner and would not recognise any rights in B. But the Chancellor would enforce trusts, as matters of conscience, and compel A to hold the land on B's behalf and to allow B to enjoy it. In such a case A is the "legal owner", B is the "equitable owner". The land is vested in A, but since he is trustee of it he is not the beneficial owner : he has only the "bare legal estate", and the beneficial interest belongs to B. Now legal ownership confers rights "in rem", rights of property in the land itself, which can be enforced against anyone. Equitable ownership conferred at first only a right "in personam", a right to compel the trustee personally to perform his trust.(Megarry & Wade, 4th ed., 1975, p. 113).

French

Domaine(s)
  • PAJLO
  • Droit des biens et de la propriété (common law)
OBS

propriété en common law : terme normalisé par le Comité de normalisation dans le cadre du Programme national de l'administration de la justice dans les deux langues officielles (PAJLO).

Spanish

Save record 2

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