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WEEKLY LEGAL NUGGETS

By
THE RADIANT JUSTICE CHAMBERS OBAFEMI AWOLOWO UNIVERSITY⚖️

 EQUITABLE INTEREST
An Equitable interest arises where there is an interest in a property, although the party with the interest does not possess a legal title. This kind of interest is usually defeated by a legal title. A Legal title is the true and enforceable ownership of a property. This cannot easily be overridden, except for when an equitable interest exists.

An equitable interest in land may be expressly created, inferred or imposed by a court. It does not transfer legal ownership of the property, it simply gives the individual or entity the right to use and also enjoy the property. Equitable interest as a beneficiary of a trust can be contrasted to a trustee’s legal interest in the trust property. 

 FROM THE DIRECTORATE OF LITIGATION AND RESEARCH

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