A beneficial owner of property is the person that holds the 'real' value of it. This 'real' value of the property is called the Beneficial interest.
This means that, for example, the beneficial owner of a home has the right to live in and use it, and receive any income that might come from it. A beneficial owner of a bank account is the person entitled to the money in the account, whether or not the account is in their name.
Use this document to give away or sell your beneficial ownership to another person, several people or a corporation. You can use it for any kind of property: e.g. a house or flat, money held in a bank account, shares in a company, a painting, or a car.
Some situations where you might use an assignment, rather than a legal transfer, include:
You can only use this document if the property is held on trust. However, check that your beneficial interest is not held under either a protective trust or a discretionary trust - a beneficial interest can't be assigned under either of these.
This product is suitable for use in: England Wales
This document is available as part of our Business law plan
Most documents take about 15 - 45 minutes
You can try the service out beforehand, and can save your progress at any time and come back to the document later.
Your document will be reviewed by our legal experts, and you can call us at any time
"Fantastic! The legal document I used was so comprehensive and easy to complete. It is very reassuring to know my business now has this level of protection"