Stuart Stone
Mar 02, 2013 8:49 AMTitle. A mark, style, or designation; a distinctive appellation;
the name by which anything is known. Thus, in
the law of persons, a title is an appellation of dignity or
distinction, a name denoting the social rank of the
person bearing it; as "duke" or "count."
Clear title, good title, merchantable title, marketable
title, are synonymous; "clear title" meaning that the
land is free from incumbrances, "good title" being one
free from litigation, palpable defects, and grave doubts,
comprising both legal and equitable titles and fairly
deducible of record.
'Comprising both legal and equitable titles and fairly
deducible of record.'
Equitable title. A right in the party to whom it belongs
to have the legal title transferred to him; or the beneficial
interest of one person whom equity regards as the
real owner, although the legal title is vested in another.
Legal title. One cognizable or enforceable in a court of
law, or one which is complete and perfect so far as
regards the apparent right of ownership and possession,
but which carries no beneficial interest in the property,
another person being equitably entitled thereto; in either
case, the antithesis of "equitable title."
As holder in due course of the bill of lading, does that confer 'legal title', while liening the name secures 'equitable title'...help guys, please...
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Last Updated: Mar 02, 2013 8:49 AM
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