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Nature of Equitable Interests
Put simply an equitable interest in land is an interest recognised by the courts of equity and not recognised by the common law courts. A legal interest on the other hand was recognised by both jurisdictions. The development of uses as a device in holding land resulted in the beneficial ownership (or use) being recognised by the Chancellor. So far as the common law courts were concerned, the feoffee to uses held both the legal and beneficial ownership.…
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