Legal Interest an Equitable interests are interests involved in proprietary rights in land but they are both different from each other in different aspects. The interest in land are listed below and are explained for better understanding.
Legal Interests: A right in or over land. It may comprise
equitable ownership of the land (such as the interest of the tenant for life
under a settlement), where the legal estate is owned by trustees; or the
benefit of some other right over the land of another, such as an easement or
rentcharge. Interests of the latter type can be legal or equitable, but under
the Law of Property Act 1925 only interests owned on terms equivalent to a fee
simple absolute in possession or a term of years absolute qualify as
legal interests. A person interested in land is one who has rights in it. See
also equitable interests.
