Definition of Beneficial owner:
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?
- If you are the beneficial owner then you will be able to get all of the perks that come from having that position.
- 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.
- 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