Legal Title


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Related to Legal Title: equitable title

Legal Title

Ownership of property that is cognizable or enforceable in a court of law, or one that is complete and perfect in terms of the apparent right of ownership and possession, but that, unlike equitable title, carries no beneficial interest in the property.

See: droit, right, title
References in periodicals archive ?
27) identified eight factors in determining ownership: (1) whether legal title passes; (2) how the parties treat the transaction; (3) whether an equity in the property was acquired; (4) whether the seller must execute a deed and the buyer make payments; (5) whether the purchaser has the right to possession; (6) which party pays property taxes; (7) which party bears risk of loss for property damage; and (8) which party receives the profits from operation and sale of the property.
Specifically, the judge determined that false pretense losses arising out of the purchase of vehicles by the car dealer had no limitation on the amount to be covered under its policy of insurance when the seller did not have legal title.
Mr Ofulue issued a summons against them but the Court of Appeal decided in favour of the Bosserts, asserting that they had acquired legal title to the property by adverse possession.
25) The grantor intended to transfer legal title to her shares and proprietary leases to the trust.
At the same time, lawyers will be instructed to carry out investigations to establish the mortgagor's legal title to the property.
Fees paid to prevent foreclosure of property held as an investment were held nondeductible because the suit's primary purpose was to defend legal title.
The program will fund projects in which indigenous peoples work to gain legal title to their traditional lands and develop sustainable land management plans.
Whether it is a rural lane leading to the house, communal paths to a flat or a joint driveway, when buying a property which has private shared accessways, your legal adviser will need to tell you the legal implications from the details in the legal title to the property.
They have permanently transferred all of the economic rights to their patents and are left only with legal title to a technology that they can no longer use, sell or lease.
A taxpayer who abandons property subject to nonrecourse debt is relieved of the debt obligation when he or she gives up legal title to the property.