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KembaraXtra – Legal Terms – Nominee
A nominee is a person who holds legal title to property on behalf of another person or persons who are the true beneficial owners.
The nominee generally has very limited duties and acts mainly according to the instructions of the beneficial owners.
Although the nominee’s name appears as the legal owner, the nominee does not usually enjoy the real benefits of ownership.
Nominee arrangements are commonly used for convenience, confidentiality, or administrative purposes in property, company, and investment transactions.
The distinction between legal ownership and beneficial ownership is therefore central to the concept of a nominee.
A nominee is a person who holds legal title to property on behalf of another person or persons who are the true beneficial owners.
The nominee generally has very limited duties and acts mainly according to the instructions of the beneficial owners.
Although the nominee’s name appears as the legal owner, the nominee does not usually enjoy the real benefits of ownership.
Nominee arrangements are commonly used for convenience, confidentiality, or administrative purposes in property, company, and investment transactions.
The distinction between legal ownership and beneficial ownership is therefore central to the concept of a nominee.
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