Exam term

Legal title

Formal ownership of property, passed by conveyance of a deed. Under a purchase contract or contract for deed, the seller keeps it until the agreed performance.

Lessons that use this term

Deeds: purpose, essential elements, and legal descriptions New York
The title closing: recording acts, chain and abstract of title, title insurance, and RESPA New York
Earnest money, equitable title, and contingencies Texas
Option contracts and installment sales contracts Texas