The use of the words 'beneficially entitled' means broadly that the estate includes only property
In England, Wales and Northern Ireland this includes property
which a person owns either legally or beneficially (
IHTM04441). In Scotland, the term
'ownership' does not necessarily equate to beneficial entitlement,
for example where the land that is being transferred is subject to
missives of sale of there is an unrecorded disposition. This is
because of the Scottish system of unitary ownership. Any case where
the question is in point should be referred to TG for advice.
A person is not beneficially entitled to property held
A person may be entitled to or interested in property both beneficially and in some other capacity, for example, an executor who is also beneficially entitled to part of the testator’s estate. The property then forms part of the person’s estate to the extent of his or her beneficial entitlement.