Beneficial owner

Beneficial owner,

Definition of Beneficial owner:

  1. Entity that enjoys the possession and/or benefits of ownership (such as receipt of income) of a property even though its ownership (title) is in the name of another entity (called a nominee or registered owner). Use of a nominee (who may be an agent, custodian, or a trustee) does not change the position regarding tax reporting and tax liability, and the beneficial-owner remains responsible. Also called actual owner.

How to use Beneficial owner in a sentence?

  1. If you are the beneficial owner then you will be able to get all of the perks that come from having that position.
  2. When my grandmother passed away, the title to her ranch property in the hill country was put into my mothers name, but I was named beneficial owner of all profit from selling the cattle.
  3. I was glad that I had the title of beneficial owner , even though I was not the actual owner of the place.

Meaning of Beneficial owner & Beneficial owner Definition