Nature of equitable interests

under the early common law there was no remedy for a breach of trust. if x owned blackacre in fee simple and made a conveyance of blackacre to Y instructing him to hold in trust for Z, common law gave no remedy against Y if he used he property for his won and not for Z's benefit. court of chancery would however enforce the trust against the benefit of Z,Z was regarded as a …

…equitable interest in land is an interest recognised by the courts of equity and not recognised by the common law courts. A legal interest on the other hand was recognised by both jurisdictions. The development of uses as a device in holding land resulted in the beneficial ownership (or use) being recognised by the Chancellor. So far as the common law courts were concerned, the feoffee to uses held both the legal and beneficial ownership.