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A legal right is a right you have to something without any barriers. An equitable right is one that would be recognized by a court of equity. One of the easiest to understand examples is the right of real property ownership.
Suppose a person purchases a parcel of land by deed from its owner. That person becomes the legal owner of the property. They have a legal right of ownership.
Now suppose a person inherited a parcel of land as the only heir at law of her grandfather. The grandfather's estate must be probated to transfer legal title to the beneficiary. When the estate is probated through the probate court the beneficiary will become the legal owner of the premises by virtue of the court order that allows the probating of the estate.
If the estate is not probated the beneficiary has an equitable right to the property and is not the legal owner. She has the right to commence a court action to probate the estate so she can acquire the legal right to the premises.
Another example: An owner whose land is taken by the town due to nonpayment of real estate taxes has an equitable interest in the property until that right has been barred by a court decree. In this case the delinquent property taxes are the barrier to full legal ownership. The delinquent taxpayer is no longer the legal owner of the premises. Until the delinquent owner's rights have been barred by a court decree they have the right to pay the delinquent taxes to redeem their property and become the legal owner once again.
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Equitable interest and legal interest?
Legal interest - n.(in land law) A right in or over land. It may comprise equitable ownership of the land (such as the interest of the tenant for life under a settlement), where the legal estate is owned by trustees; or the benefit of some other right over the land of another, such as an easement or rentcharge. Interests of the latter type can be legal or equitable, but under the Law of Property Act 1925 only interests owned on terms equivalent to a fee simple absolute in possession or a term of years absolute qualify as legal interests. A person interested in land is one who has rights in it. See also equitable interests.equitable interests - Interests in property originally recognized by the Court of Chancery, as distinct from legal interests recognized in the common-law courts. They arose in cases when it was against the principles of equity for a person to enforce a legal right. Originally equitable rights (e.g. a trust, or the equity of redemption under a mortgage) were enforceable against the person with a legal right over property in question. Later, however, those who were given the property by the holder of the legal interests took it subject to equitable interests; later still, anyone who bought property knowing of the equitable interests was bound by them. In the developed law, everyone took property subject to equitable interests except those who bought it and neither knew nor ought to have known of the equitable interests (the doctrine of notice). Since 1925, equitable interests may be protected by the doctrine of overreaching, under the system of land charges, or by notice.equitable interest An interest in, or ownership of, property that is recognized by equity but not by the common law. A beneficiary under a trust has an equitable interest. Any disposal of an equitable interest (e.g. a sale) must be in writing. Some equitable interests in land must be registered or they will be lost
What is the difference between an enslaved servant and a slave?
An enslaved servant typically refers to someone who is forced to work for an owner, often under oppressive conditions but may have some limited rights or freedoms. A slave, on the other hand, is considered the legal property of another person and has no rights or freedoms.
Is recission a legal or an equitable remedy?
Rescission is considered an equitable remedy. It allows a contract to be cancelled and parties to be restored to their pre-contractual positions. It is typically granted by a court to prevent unjust enrichment or unfair outcomes.
What is the difference between a civil union and marriage in Oklahoma?
In Oklahoma, a civil union is not recognized by the state, while marriage is legally recognized and provides couples with legal rights and responsibilities. Marriage offers additional legal benefits and protections, such as inheritance rights, access to healthcare decisions, and eligibility for tax benefits, that are not available to couples in a civil union.
What are some alliteration words for justice?
Just judgment Fairness factor Equitable evaluation Legal legitimacy
What is the difference between equitable title and legal title?
distinction between legal and equitable title
What are the differences between Legal and Equitable Rights?
Legal RightLegal rights are recognized by the courts of common law.A registered mortgage is a legal mortgage.These are certain rights.Where these two rights conflict, legal rights prevail.Equitable RightEquitable rights are recognized by the courts of chancery.A mortgage of property by simply keeping the title deeds with the creditor is an equitable mortgage.These are uncertain rights.When these two rights conflict with each other, equitable rights become weaker than legal rights.
Why do banks prefer legal mortgage to equitable mortgage?
Equitable mortgages are legal.
What was one difference between the legal rights of slaves and the legal rights of women in the United states during the 19th century?
Women could be taught to read, but slaves could not.
Can you explain the difference between wives and wifes in terms of their legal status and rights within a marriage"?
In terms of legal status and rights within a marriage, the difference between "wives" and "wifes" is that "wives" is the correct plural form of the word "wife" and refers to married women, while "wifes" is an incorrect spelling. Wives have legal rights and protections within a marriage, such as property rights, inheritance rights, and the right to make decisions about their children.
Does a contract for deed constitute legal or equitable title?
Equitable.Equitable.Equitable.Equitable.
What are the legal rights of a boyfriend?
Every right to be beautiful inside. Every right to tell you how gorgeous you are. Every right to listen to you. The right to love, the right to be good kissers, the right to RESPECT YOUR MORALS.
Equitable interest and legal interest?
Legal interest - n.(in land law) A right in or over land. It may comprise equitable ownership of the land (such as the interest of the tenant for life under a settlement), where the legal estate is owned by trustees; or the benefit of some other right over the land of another, such as an easement or rentcharge. Interests of the latter type can be legal or equitable, but under the Law of Property Act 1925 only interests owned on terms equivalent to a fee simple absolute in possession or a term of years absolute qualify as legal interests. A person interested in land is one who has rights in it. See also equitable interests.equitable interests - Interests in property originally recognized by the Court of Chancery, as distinct from legal interests recognized in the common-law courts. They arose in cases when it was against the principles of equity for a person to enforce a legal right. Originally equitable rights (e.g. a trust, or the equity of redemption under a mortgage) were enforceable against the person with a legal right over property in question. Later, however, those who were given the property by the holder of the legal interests took it subject to equitable interests; later still, anyone who bought property knowing of the equitable interests was bound by them. In the developed law, everyone took property subject to equitable interests except those who bought it and neither knew nor ought to have known of the equitable interests (the doctrine of notice). Since 1925, equitable interests may be protected by the doctrine of overreaching, under the system of land charges, or by notice.equitable interest An interest in, or ownership of, property that is recognized by equity but not by the common law. A beneficiary under a trust has an equitable interest. Any disposal of an equitable interest (e.g. a sale) must be in writing. Some equitable interests in land must be registered or they will be lost
What are some legal differences between same-sex relationships and heterosexual ones?
In states that have legalized same-sex marriage, there is no legal difference between the two. In states that have banned same-sex marriage, the difference is that heterosexual couples are permitted their civil rights.
What are the key differences between an equitable remedy and a legal remedy in terms of providing justice and resolving disputes?
Equitable remedies focus on fairness and individual circumstances, aiming to prevent unjust enrichment or harm. Legal remedies, on the other hand, are based on established laws and rules, seeking to compensate for losses or enforce rights. Equitable remedies offer more flexibility and discretion for judges to tailor solutions, while legal remedies are more rigid and based on specific legal principles. Both types of remedies aim to provide justice and resolve disputes, but they do so through different approaches.
What is the difference between legal and educational definitions for hearing impaired?
What is the difference between legal and educational definitions for hearing and visual impaired.
What is the difference between Compliance and legal?
The difference between compliance and legal is that compliance means you obey by the rules of your company, you do what you are told to do. Legal means you abide by the laws of the state.
