Real Estate Terms [5]

May 4, 2011

Posted under: Investment

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Beneficial Owner:

A person enjoying or entitled to property for his own benefit, not, for instance, as a trustee who holds the legal estate in land for the benefit of another. The owner of the legal estate is usually the beneficial owner, but if the legal estate is vested in trustees, the beneficial owner has only an equitable interest. He is then known as the beneficiary or cestui que trust.
The person who is the real owner of a security and thereby entitled to all consequential benefits, as distinct from a nominee who holds securities on behalf of another.

Beneficiary: Someone who receives property or other assets in a will or someone for whose benefit a trust is set up.

Bequest: Property that is given to someone by a will

Best Rent: The highest which can reasonably be expected by a landlord in the circumstances of a particular case.

Big-Box Store: Large stand-alone store specializing in specific merchandize. These are often located in suburban or rural areas, often in proximity to freeway cloverleaf interchanges, as opposed to downtown shopping districts. Also known as superstore.