A beneficial interest is "that right which a person has in a contract made with another" (third) person. The typical example is "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." More generally, a beneficial interest is any "interest of value, worth, or
use in
property one does not own," for example, "the interest that a
beneficiary of a
trust has in the trust." More specifically, it could be:"A property interest that inures solely to the benefit of the owner," orProperty that "remains of an
estate after the payment of debts and the expenses of administration", orThe right of a person having a
power of appointment to appoint himself."
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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.
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