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Beneficial
BeneficialOf advantage, profit or interest; as the wife has a beneficial interest in property held by a trustee for her. RELATED TERMS-------------------------------------- Interest 1) Estates. The right which a man has in a chattel real, and more particularly in a future term. It is a word of less efficacy and extent than estates, though, in legal understanding, an interest extends to estates, rights and titles which a man has in or out of lands, so that by a grant of his whole interest in land, a reversion as well as the fee simple shall pass. 2) Contracts. The right of property which a man has in a thing, commonly called insurable interest. 3) Evidence. The benefit which a person has in the matter about to be decided and which is in issue between the parties. Beneficial Of advantage, profit or interest; as the wife has a beneficial interest in property held by a trustee for her. Property Property is commonly thought of as a thing which belongs to someone and over which a person has total control. But, legally, it is more properly defined as a collection of legal rights over a thing. These rights are usually total and fully enforceable by the state or the owner against others. It has been said that "property and law were born and die together. Before laws were made there was no property. Take away laws and property ceases." before laws were written and enforced, property had no relevance. Possession was all that mattered. There are many classifications of property, the most common being between real property or immoveable property (real estate such as land or buildings) and "chattel", or "moveable" (things which are not attached to the land such as a bicycle, a car or a hammer) and between public (property belonging to everybody or to the state) and private property. Trustee Estates. A trustee is one to whom an estate has been conveyed in trust. SIMILAR TERMS-------------------------------------- Benefice Ecclesiastical law. In its most extended sense, any ecclesiastical preferment or dignity. Beneficial interest 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. Beneficial owner A term usually referring to the registered shipowner, but which may also designate another party having the equitable ownership of the vessel where it is operated under the cloak of a trust. Beneficiaries Aliens on whose behalf a U.S. citizen, legal permanent resident, or employer have filed a petition for such aliens to receive immigration benefits from the U.S. Citizenship and Immigration Services. Beneficiaries generally receive a lawful status as a result of their relationship to a U.S. citizen, lawful permanent resident, or U.S. employer. Beneficiary A broad definition for any person or entity who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution. Beneficiary heir Civil law. Beneficiary heirs are those who have accepted the succession under the benefit of an inventory regularly made. If the heir apprehend that the succession-will be burdened with debts beyond its value, he accepts with benefit of inventory, and in that case he is responsible only for the value of the succession. Beneficio primo ecclesiastico habendo English Ecclesiastical law. A writ directed from the king to the chancellor, commanding him to bestow the benefice which shall first fall in the king's gift, above or under a certain value, upon a particular and certain person. Beneficium competentiae The right which an insolvent debtor had, among the Romans, on making session of his property for the benefit of his creditors, to retain what was required for him to live honestly according to his condition. Benefit This word is used in the same sense as gain and profits. Benefit of cession Civil law. The release of a debtor from future imprisonment for his debts, which the law operates in his favor upon the surrender of his property for the benefit of his creditors. Benefit of clergy English law. An exemption of the punishment of death which the laws impose on the commission of certain crimes, on the culprit demanding it. Benefit of discussion Civil law. The right which a surety has to cause the property of the principal debtor to be applied in satisfaction of the obligation in the first instance. Benefit of division In the civil law, which, in this respect, has been adopted in Louisiana, although, when there are several sureties, each one is bound for the whole debt, yet when one of them is sued alone, he has a right to have the debt apportioned among all the solvent sureties on the same obligation, so that he shall be compelled to pay his own share only. Benefit of inventory Civil law. The benefit of inventory is the privilege which the heir obtains of being liable for the charges and debts of the succession, only to the value of the effects of the succession, in causing an inventory of these effects within the time and manner proscribed by law. Benevolence 1) Duty. The doing a kind action to another, from mere good will, without any legal obligation. 2) English law. An aid given by the subjects to the king under a pretended gratuity, but in realty it was an extortion and imposition. PREVIOUS AND NEXT TERMS-------------------------------------- Bench The large, usually long and wide desk raised above the level of the rest of the courtroom, at which the judge or panel of judges sit. Bench trial (Also known as court trial.) Trial without a jury in which a judge decides the facts. Bench warrant Criminal law. The name of a process sometimes given to an attachment issued by order of a criminal court, against an individual for some contempt, or for the purpose of arresting a person accused. Bencher English law. A bencher is a senior in the inns of court, entrusted with their government and direction. Benefice Ecclesiastical law. In its most extended sense, any ecclesiastical preferment or dignity. Beneficial Beneficial interest 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. Beneficial owner A term usually referring to the registered shipowner, but which may also designate another party having the equitable ownership of the vessel where it is operated under the cloak of a trust. Beneficiaries Aliens on whose behalf a U.S. citizen, legal permanent resident, or employer have filed a petition for such aliens to receive immigration benefits from the U.S. Citizenship and Immigration Services. Beneficiaries generally receive a lawful status as a result of their relationship to a U.S. citizen, lawful permanent resident, or U.S. employer. Beneficiary A broad definition for any person or entity who is to receive assets or profits from an estate, a trust, an insurance policy or any instrument in which there is distribution. Beneficiary heir Civil law. Beneficiary heirs are those who have accepted the succession under the benefit of an inventory regularly made. If the heir apprehend that the succession-will be burdened with debts beyond its value, he accepts with benefit of inventory, and in that case he is responsible only for the value of the succession. We thank you for using the Juridical Dictionary to search for Beneficial. If you have a better definition for Beneficial than the one presented here, please let us know by making use of the suggest a term option. This definition of Beneficial may be disputed by other professionals. Our attempt is to provide easy definitions on Beneficial and any other medical topic for the public at large.
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