Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
LEGAL ESTATE Definition & Legal Meaning
Definition & Citations:
Lawful right as owner of an asset or property to hold the legal title/ownership. A lender has legal estate in a mortgaged asset used as collateral. The borrower only has a right of redemption. Legal estate is held by a trustee for the benefit of its beneficiaries in the trust’s assets.
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