equitable title

equitable title

(1) The interest held by one who has agreed to purchase property but has not yet closed. (2) The title held by a trust beneficiary, because the trustee has legal title but the law recognizes the beneficiary as having rights.See also equitable conversion.

References in periodicals archive ?
Michigan law defines "business activity" in the state as any transfer of legal or equitable title of property, the performance of services or any combination thereof, that is transacted within the state.
The initial agreement must state expressly that the nominal buyer is acting on behalf of a yet-to-be-formed SPE and "has no intent to obtain legal or equitable title.
shall be deemed to have legal or beneficial and equitable title to said property.
The court further qualified its position by stating that at no time did the corporation have either legal or equitable title, or possession, or control of the insurance proceeds.
Robert Coberly, spokesman for Senior Care, stated that contrary to the false accusations made by Tri-National in its press release of July 1, 2002, "the truth is that Senior Care International has always had equitable title to the properties in Mexico since contracts for deed were executed in May of last year and those contracts are valid and enforceable.
a) Every person who has the legal or equitable title to real estate and maintains thereon the permanent residence of the owner, or another legally or naturally dependent upon the owner, shall be exempt from taxation thereon, except assessments for special benefits, up to the assessed valuation of five thousand dollars, upon establishment of right thereto in the manner prescribed by law.
Equitable title has been determined appropriate because the "paramount constitutional requirement of just compensation must be allowed to prevail over the niceties of legal title.
to provide equitable Title I Enrichment Services to the Newark Title I Private School students.
As discussed below, equitable title to trust property is a property interest and, therefore, is subject to TBE ownership.
Under an assignment for the benefit of creditors ("ABC"), the insolvent entity (the "Assignor") transfers legal and equitable title, as well as custody and control of its property, to a third party (the "Assignee") in trust.
Instead, he reasoned, the servicer sues as the owner of equitable title to the claim.
The non-licensed spouse may have an equitable title to the proceeds of the interest that is not greater than the community property interest that he or she already has.