What is a Beneficial Owner?
A designation of beneficial owner has to do with an individual or entity that is granted the use and title to properties, even though another person or business holds the legal title to the property. The beneficial owner is able to enjoy all the benefits of owning property, while the actual titleholder is free to focus on other matters as long as the property is being managed and cared for. Here are some examples of how the concept of a beneficial owner is employed. In a sense, the beneficial owner is functions as a trustee for the titleholder. The beneficial owner has full ability to make decisions within the scope of the responsibilities delegated by the titleholder, as long as the arrangement remains in force. In terms of property, an agreement of this type can be ideal for someone who owns property that he or she rarely uses. The beneficial owner is empowered to take care of property taxes, live on the property, maintain any dwellings found on the grounds, and rent or lease portion
