Dictionary of Business Terms: equitable title
equitable title
the interest held by one who has agreed to purchase but has not yet closed the transaction.
Dictionary of Real Estate Terms: equitable title
equitable title
the interest held by one who has agreed to purchase but has not yet closed the transaction.
Example: Collins has agreed in writing to buy Baker's house, with closing to be arranged in 2 weeks. In the interim, valuable minerals are found on the property. Since Collins has equitable title, the minerals belong to her. Similarly, if the property were condemned for public use, the value gain or loss would be hers.
