Legal owner At first sight, the meaning of this term is obvious, but a closer look reveals some possible confusion, which requires explanation to avoid misunderstanding. By definition, legal owner is the owner of a property recognized by the laws, having the ultimate control over the property. The legal owner has legal title of ownership to the property. Legal owner of property As outlined above, the legal owner is the person who holds legal title to a property, even if such person is not fully in control of the property, because...
Beneficial owner The position of the beneficial owner, by definition, is the one who has certain rights to a property, while the legal title of ownership to the property belongs to someone else. This looks evident but a closer look may disclose some interesting situations in which „beneficiaries” play a role. Beneficiary in property law Beneficiaries or beneficial owners are those who have the right to use a property and obtain the profits thereof. This arrangement generally arises from the so-called tenancy for life (or for a...
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