Equitable title is the present right to possession with the right to acquire legal title once a preceding condition has been met. In real estate law, "equitable title" refers to a person's right to obtain full ownership of a property or property interest. The person with equitable title has the right of possession and enjoys the gain in the equity. This is often contrasted with or used in conjunction with the term "legal title." Legal title is the actual ownership of the land and the right to sell. Lenders often retain this as way to maintain the right to sell the property in the form of a foreclosure if necessary.
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