A more thorough explanation:

Beneficial interest refers to a right to income or use of assets in a trust. It means that a person has the right to benefit from the property, but they do not own the property itself. This is different from trustees and other agents of the trust who only have managing duties.

For example, let's say that John creates a trust and puts his house in it. He names his daughter, Sarah, as the beneficiary of the trust. This means that Sarah has a beneficial interest in the house. She has the right to live in the house or receive rental income from it, but she does not own the house itself.

Another example is a charitable trust. In this case, the beneficiaries are the charities that will receive the assets of the trust. The people who manage the trust are the trustees, and they have a duty to make sure that the assets are used for the benefit of the charities.

These examples illustrate how a person can have a beneficial interest in a trust without actually owning the property. It is important to note that the terms of the trust will determine the extent of the beneficiary's rights and the duties of the trustees.