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The Government of Canada’s terminology and linguistic data bank.
BENEFICIAL OWNERSHIP INTEREST [2 records]
Record 1 - internal organization data 2013-03-18
Record 1, English
Record 1, Subject field(s)
- PAJLO
- Property Law (common law)
Record 1, Main entry term, English
- legal title
1, record 1, English, legal%20title
correct
Record 1, Abbreviations, English
Record 1, Synonyms, English
Record 1, Textual support, English
Record number: 1, Textual support number: 1 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). 1, record 1, English, - legal%20title
Record 1, French
Record 1, Domaine(s)
- PAJLO
- Droit des biens et de la propriété (common law)
Record 1, Main entry term, French
- titre en common law
1, record 1, French, titre%20en%20common%20law
correct, masculine noun, standardized
Record 1, Abbreviations, French
Record 1, Synonyms, French
Record 1, Textual support, French
Record number: 1, Textual support number: 1 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). 2, record 1, French, - titre%20en%20common%20law
Record 1, Spanish
Record 1, Textual support, Spanish
Record 2 - internal organization data 2013-03-15
Record 2, English
Record 2, Subject field(s)
- PAJLO
- Property Law (common law)
Record 2, Main entry term, English
- legal ownership
1, record 2, English, legal%20ownership
correct
Record 2, Abbreviations, English
Record 2, Synonyms, English
Record 2, Textual support, English
Record number: 2, Textual support number: 1 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). 1, record 2, English, - legal%20ownership
Record 2, French
Record 2, Domaine(s)
- PAJLO
- Droit des biens et de la propriété (common law)
Record 2, Main entry term, French
- propriété en common law
1, record 2, French, propri%C3%A9t%C3%A9%20en%20common%20law
correct, feminine noun, standardized
Record 2, Abbreviations, French
Record 2, Synonyms, French
Record 2, Textual support, French
Record number: 2, Textual support number: 1 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). 2, record 2, French, - propri%C3%A9t%C3%A9%20en%20common%20law
Record 2, Spanish
Record 2, Textual support, Spanish
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