Property rights exist in respect of a particular thing. Proprietary rights entitle the holder to determine how the property may be used or enjoyed.
When someone owns sth, that person has both LT + ET.
You can enforce propertiaru rights (as opposed to personal rights - contract) against 3P.
Property rights can be enforced against anybody. Personal rights enforced against 1 other party (usually).
Property rights give priority to the owner should a 3P become insolvent.
These features are also a test for whether a right is proprietary in nature
B have property rights and can take priority in insolvency [over 3Ps]. First tutorial in trust .. A Fairpac Case (xmas hamper, contribute money over time.. People try to claim they are beneficiaries - held: money was not held on trust).
Proprietary interest held by B is an eq title. But historically, B only had rights that could be enforced against trustees.
A beneficiary is regarded as having a proprietary interest in the trust property
A beneficiary can assert their rights against third parties and take priority in insolvency
The beneficiary has a proprietary interest: equitable title
This was not always the case: historically beneficiary only had rights against the trustee
Now typical to view beneficiaries as having equitable title to the trust assets, see e.g. Westdeutsche Landesbank Girozentrale v Islington London BC [1996] AC 669, 705, Lord Browne-Wilkinson -> can enforce against 3PS [this is the case for this law]