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L. Cas

Categories: Contracts

Definition (1910 Edition)

271.—Beneficial estate. An estate in expectancy is one where the right to the ossession is postponed to a future period, and is “‘beneficial” where the devisee takes solely for his own use or benefit, and not as the mere holder of the title for the use of another. In re Seaman’s Estate, 147 N. Y. 69, 41 N. E. 401. —Beneficial interest. Profit. benefit. or advantage resulting from a contract, or the ownership of an estate as distinct from the legal ownership or control. Beneficial power. In New York law and practice. A power which has for its object the donee of the power, and which is to be executed solely for his benefit; as distinguished from a trust power, which has for its object a person other than the donee, and is to be executed solely for the benefit of such person. Jennings v. Conboy. 73 N. Y. 284: Rev. St. N. Y¥. § 79.—Beneficial use. The right to use and enjoy property according to one’s own liking or so as to derive a profit or benefit from it, including all that makes it desirable or habitable, as, light, air, and access; as distinguished from a mere right of occupancy or possession. Reining v. Railroad Co. (Super. Ct.) 18 N. Y. Supp. 240.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.