Legal Title


Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.
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 ?
"If Charles died after becoming king, then Camilla's legal title would be, depending upon her preference, either Her Majesty Queen Camilla the Queen Dowager or Her Majesty Queen Camilla," Rowlands explained.
A separate issue arises when there is a "merger" or when the sole trustee is also the sole beneficiary under the trust, and legal title merges with the equitable interests, resulting in a gift free of trust.
This definition of our national territory should calm down even those who attack the Duterte administration for alleged timidity in asserting our arbitral maritime victory over China, and the current and previous administrations' alleged neglect in pushing for our 'historic right or legal title' over Sabah.
Although Aquino gave credit to the framers of the 1987 Constitution, he enumerated some weaknesses of a one-paragraph provision under Article I of National Territory of the 1987 Constitution, as he cited 'wrong use of the words internal waters,' and leaving out the words 'historic rights and legal title.'
Paul III DAC where the old notes will be repaid using the new notes and the original portfolio will be transferred (transfer to legal title) to a new SPV SP III-R.
We call the person who has legal title to the money the trustee, and the person for whom the money is used the beneficiary.
The first is where, despite having been the original owner of the property, the claimant finds that his legal title has been divested or extinguished as a result of some transaction before he can recover it from the defendant.
The group will retain legal title to the property until full payment has been received.
Of course, the issue of pre-emption rights is only relevant where legal title to the shares is actually being transferred, and there are alternative ways to structure an LTIP which do not involve the employees receiving actual shares in the company.
The rights that you would have in relation to the property in which you live and its contents will depend on the way that the legal title to the property is held and the intentions that you and your partner had when the property was obtained.
A report to Wrexham councillors said: "All transfers/leases will be subject to satisfactory legal title checks for each site."
199: (1) whether legal title passes; (2) how the parties treat the transaction; (3) whether an equity interest is acquired; (4) whether the contract creates a present obligation on the seller to execute and deliver a deed and a present obligation on the purchaser to make payments; (5) whether the right of possession is vested in the purchaser and which party has control of the property or process; (6) which party pays the property taxes; (7) which party bears the risk of loss or damage to the property; (8) which party receives the profits from the operation and sale of the property; and (9) whether the taxpayer actively and extensively participates in the management and operations of the activity.