HopefullyInLawSchool
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Simple English definitions for legal terms
equitable title
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A quick definition of equitable title:
Equitable title refers to the right to own and control property, even if legal ownership has not yet been transferred. It is a beneficial interest in the property that gives the holder the right to acquire formal legal title. Before the Statute of Uses, an equitable title was enforceable only in a court of chancery, not of law. It is different from legal title, which is the evidence of apparent ownership but does not necessarily signify full and complete title or a beneficial interest.A more thorough explanation:
Equitable title refers to a beneficial interest in a property that gives the holder the right to acquire formal legal title. It is a type of title that indicates ownership rights without actually holding legal ownership. Before the Statute of Uses in 1536, an equitable title was enforceable only in a court of chancery, not of law.
For example, if John agrees to sell his house to Jane, but the legal title is still in John's name, Jane has an equitable title to the property. She has the right to acquire legal title once the sale is completed.