Proprietary Interest Legal Meaning and Definition

Here is a simplified definition of the legal term Proprietary Interest.

Proprietary Interest (noun):

This is a legal term that indicates ownership rights in property. These rights can be either full or partial. It is the interest that a person or entity has in an asset that allows them to use it, benefit from it, or dispose of it. A proprietary interest isn't always just related to real estate; it can also apply to business assets or other types of property.