Equitable Estates
Superimposed on the legal estate and interests in land, English courts also created "equitable interests" over the same legal interests. These obligations are called trusts which will be enforceable in a court. A trustee is the person who holds the legal title to property, while the beneficiary is said to have an equitable interest in the property.
Read more about this topic: Estate (law)
Famous quotes containing the word estates:
“I hate the noise and hurry inseparable from great Estates and Titles, and look upon both as blessings that ought only to be given to fools, for ‘tis only to them that they are blessings.”
—Mary Wortley, Lady Montagu (1689–1762)