Are You a Legal Professional?

FINDLAW LEGAL DICTIONARY

The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

Owner

owner n

: one with an interest in and often dominion over property: as
a : legal owner in this entry
b : one with the right to exclusive use, control, or possession of property
c : a purchaser under a contract for the sale of real property see also equitable owner in this entry

beneficial owner
1 : one holding a beneficial interest in a trust compare beneficial interest at interest
2 : one enjoying the benefit of property of which another is the legal owner [was the beneficial owner of property held by the parent corporation]
3 : one who has or shares the power to control the voting or investment of stock [was considered the beneficial owner of stock held by her minor children]

equitable owner
: one (as a beneficiary of a trust) who is considered to have rights or obligations of an owner regardless of legal title on the ground of equity [do not have legal title but, upon execution of the contract, they became equitable owners and have power to sue to protect their land "Dessen v. Jones , 551 N.E.2d 782 (1990)"]

legal owner
: one who has legal title to property
;broadly
: one determined by law to own property [a dispute over who is legal owner of the money]

naked owner
in the civil law of Louisiana
: an owner of property burdened by a usufruct [a usufructuary possesses the usufruct for himself and the thing for the naked owner "Louisiana Civil Code "]

record owner
: one who is the owner of property (as land or stock) according to current appropriate records [received a tax bill as record owner of the land] called also owner of record



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.