Explanation: - not the same as the beneficiary, contrary to UK law academics' opinions, but the actual owner.
Usufruit, contrary to French lawyers' opinion, does double gen. as a trust in equity as the root of the word comes into English law via feudal uses of land whilst the owner was away crusading etc. Spec. can be a life interest or life tenancy.
Bare owner, unfortunately, is false friend as, in Eng. law, the only link is with a bare trust vs. an express trust.
-------------------------------------------------- Note added at 3 hrs (2009-10-30 20:12:32 GMT) --------------------------------------------------
PS it is the usufruitier/'usufructor' who is the beneficiary or life tenant.
I don't see what is wrong with going for "bare owner". However, the choice is yours.
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Answers
3 mins confidence: peer agreement (net): +2
bare owner (owner without usufruct or use)
Explanation: Le Docte Juridical Dictinary
-------------------------------------------------- Note added at 4 mins (2009-10-30 17:01:42 GMT) --------------------------------------------------
Dictionary, of course
etienne muylle i wallace Spain Local time: 21:44 Works in field Native speaker of: Dutch, French
Notes to answerer
Asker: Thanks - I begin to see what this means now, though 'bare owner' is perhaps not the best translation for a question meant to be understood by the layman. I'm very grateful indeed for the explanation.
Asker: Thanks. I have read everyone's comments with great interest and thoroughly re-read the context of the piece. I have settled on beneficial/bare owner with a small added explanation. Thanks to everyone who contributed to such an interesting legal debate.
Explanation: - not the same as the beneficiary, contrary to UK law academics' opinions, but the actual owner.
Usufruit, contrary to French lawyers' opinion, does double gen. as a trust in equity as the root of the word comes into English law via feudal uses of land whilst the owner was away crusading etc. Spec. can be a life interest or life tenancy.
Bare owner, unfortunately, is false friend as, in Eng. law, the only link is with a bare trust vs. an express trust.
-------------------------------------------------- Note added at 3 hrs (2009-10-30 20:12:32 GMT) --------------------------------------------------
PS it is the usufruitier/'usufructor' who is the beneficiary or life tenant.
Example sentence(s):
Beneficial owner is a legal term where specific property rights ("use and title") in equity belong to a person even though legal title of the property belongs to another person.
Tom Thumb Austria Local time: 22:44 Specializes in field Native speaker of: English PRO pts in category: 27
Grading comment
Merci
Notes to answerer
Asker: Thanks. I have read everyone's comments with great interest and thoroughly re-read the context of the piece. I have settled on beneficial/bare owner with a small added explanation. Thanks to everyone who contributed to such an interesting legal debate.
Explanation: Naked owner is the term used in the US at least. I've seen it used by stock brokers when the father has died, the mother has usufruct of the investment/investment income, but the children are the naked owners. At the mother's death, the children inherit the investment. I agree completely with the definition "owner without usufruct or use." Well put.
-------------------------------------------------- Note added at 3 hrs (2009-10-30 20:16:16 GMT) --------------------------------------------------
Thanks, Chris. The asker probably wants the British "bare owner" since U.S. term wasn't requested. Here a web page with naked owner: "The total use includes the right to exclude the children, or naked owners, from the property while that spouse has the usufruct." See first 2 paragraphs under USUFRUCT on this web page, if you ever have a U.S. client. Thanks again. http://www.meocpa.com/usufruct.html
Reply to asker's request for more "user-friendly" term: leave out "bare" and use "owner" since the usufructor is not the owner.
rivercrossroads United States Local time: 15:44 Native speaker of: English
Notes to answerer
Asker: Very grateful for the explanation. I can see why either "naked" or "bare" owner would be used. I just wonder if there is a more 'user-friendly' way of trying to express this without a long note at the end. Thank You.
Asker: Thanks. I have read everyone's comments with great interest and thoroughly re-read the context of the piece. I have settled on beneficial/bare owner with a small added explanation. Thanks to everyone who contributed to such an interesting legal debate.
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