A beneficial interest, as opposed to legal title, in property. For example, a trust beneficiary has a beneficial interest in the trust property, while the trustee has a legal title to the trust property.
All persons having a legal or equitable interest in a spirituous liquor license must file a statement of such interest on a form furnished by the Department. Notice of termination of such interest must be filed in writing. ARS 4-210(J.2); Rule R19-1-302
An ownership interest in a property that is demonstrated by actions such as the payment of the current mortgage, property taxes or property insurance rather than by legal ownership.