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