equitable interest

Guinta, who must repay the money plus a $15,000 fine, says he had an equitable interest in the accounts and that he agreed to the settlement to “end the distractions.”

As an alternative, Mr. Kane suggests forcing large and implicitly guaranteed institutions like Citigroup to give taxpayers an equitable interest in them.

“Equitable interest means if you suffer harm you should be compensated for it,” Mr. Kane said.

The ordinance defines "owner" as an entity "owning, maintaining, operating, collecting rents for, or having any legal or equitable interest in any building, including a mortgagee or its assignee or agent."

Minnesota asserted the right to tax the equitable interest of the purchaser in such land, and the Supreme Court upheld its right to do so.