legal estate

Definition of "legal estate"
  1. It refers to a type of property ownership where one party holds the legal title but another party has the beneficial usage rights
How to use "legal estate" in a sentence
  1. In their arrangement, the legal estate is held by their cousin, but they have the rights to live in and use the property.
  2. The bank holds the legal estate for the property as collateral, although the business operates from there daily.
  3. Under the trust deed, the legal estate is held by the trustee, while the beneficiary enjoys the benefits.

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