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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Comments(2)

  • tom7w22nd February, 2007

    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.
    [addsig]

  • tom7w24th February, 2007

    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?
    [addsig]

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