A wettelijke rente is a person or entity’s ownership rights in property. This can be real property or intellectual material such as a copyright. A legal interest in property can also include percentages of ownership, time periods of ownership and the right to transfer or encumber the property. There are various types of property interests including a fee simple, life estate and remainder after death.
Legal interest can also refer to the rate of interest that is allowed or required by law. For example, if an individual or company charges more than the legal rate of interest then they may be engaging in usury (see SS 28-3304).
In the Pursuit of Justice: Exploring the Importance of Legal Interest
The term can also apply to a position within an organization where a person has a legitimate interest in making decisions that affect other people. For example, a manager has a legitimate interest in ensuring that employees are not wasting company resources or taking advantage of their position.
When it comes to international law, a legal interest can be used to describe a State’s claim to sovereignty over territory. This means that the requesting State needs to demonstrate how its interests, such as its exercise of rights and jurisdiction, would be affected by a decision made by the Court. Typically, the legal interest relied upon must be a true and real claim of the requesting State based on law. However, it is not necessarily necessary that this interest be of a substantial nature.