equitable ownership

equitable ownership

Describes the rights of a trust beneficiary in property, as opposed to the legal ownership resting in the name of the trustee.

References in periodicals archive ?
Courts will consider equitable ownership and also will factor in who controls various ownership interests (such as separate corporate entities that share similar officers or members).
therefore the taxpayer/lessee failed to prove that he obtained equitable ownership of the property and could not deduct the real estate taxes associated with it that he had paid (Jones, T.
In 2004, the district court, in a separate matter, provided authority for the county appraiser to assess ad valorem taxes on improvements on Santa Rosa Island under an equitable ownership theory.
The minister confirmed that a large number of the projects in the north coast and El Alamein will also be tendered through partnerships involving quotes or equitable ownership, affirming that the country's goal is to avoid private-ownership of project infrastructure.
If legal or equitable ownership is in question the couple would have to apply to the court for a ruling under trust law to determine who owned what.
1995-446, despite a handwritten document signed by the parties, the court similarly ruled that the taxpayer had failed to demonstrate equitable ownership.
In July 1989, the company acquired equitable ownership but not legal title to Sadler Point Marina, located in Jacksonville, and assumed operations of the facility.
Second, the court reasoned that the McEwens held an actual property interest in the trust--an equitable ownership in the trust corpus--which was subject to the TBE interest.
As members of the House Ways and Means Committee, there could be no better proponents in Congress for equitable ownership polices for all working Americans than Congressman Boustany and Congressman Pomeroy," stated J.
In states where mortgage assignments don't need to be recorded, the public land records may disclose only the original mortgagee notwithstanding successive transfers of equitable ownership and transfers of servicing rights.
The foreign owner retains equitable ownership rights under this arrangement; however, legal title of the foreign-owned stock is transferred to voting trustees.
609, to read: "neither title nor legal or equitable ownership pass to the secured party by taking possession of collateral after default unless the secured party acquires ownership by purchase pursuant to [subsection] 679.