What Is Equitable Interest Regarding Trustee?
In a landtrust situation, real property becomes personal property the beneficiaries own the beneficiary interest, and I heard the trustee owns the equitable interest.
I know what does interest mean.
Can anybody clarify/define what is/are equitable interest(s)? how does it work? is it a legalese term?
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John,
my question is what does the trustee own?
equity interest
the trustee owns the equitable interest.
Does it mean the equity part of the property/house?
the equity which accumulate year after year.
I am sorry I just want to be clear.
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thank Mtnwizard,
I was confused between equity and equitable.
I think equitable has to do with fairness
and equity of the house is the money amount = value - debt.
am I right?
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