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equitable title

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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.



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Legal title refers to the duties and responsibilities of maintaining and controlling a property, while equitable title refers to the benefits and enjoyment of that property.
After the transaction closes, the buyer has equitable title while the seller holds legal title.
is a legal agreement between a buyer and seller of real property, whereby the seller immediately transfers equitable title to the buyer but retains legal title, agreeing to transfer legal title to the property only after the buyer has paid the full purchase price A contract for deed, also known as ?
 
 
 
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