|
In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership. Conveyance of the document may be required in order to transfer ownership in the property to another person. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it. In many cases, both possession and title may be transferred independently of each other. For real property, land registration and recording provide public notice of ownership information. In United States law, typically evidence of title is established through title reports written up by title insurance companies, which show the history of title (property abstract and chain of title) as determined by the recorded public record deeds;〔American Bar Association. (1995). ''The American Bar Association guide to home ownership: the complete and easy guide to all the law every home owner should know''. ISBN 0812925351, 9780812925357. (Ch.3 sample ).〕 the title report will also show applicable encumbrances such as easements, liens, or covenants.〔(3 Things You Should Know About Preliminary Title Reports ). ZillowBlog.〕 In exchange for insurance premiums, the title insurance company conducts a title search through public records and provides assurance of good title, reimbursing the insured if a dispute over the title arises.〔(What is a Title Company? ). Benchmark Title company.〕 In the case of vehicle ownership, a simple vehicle title document may be issued by a governmental agency. The main rights in the title bundle are usually: * Exclusive possession * Exclusive use and enclosure * Acquisition * Conveyance, including by bequest * Access easement * Hypothecation * Partition The rights in real property may be separated further, examples including: * Water rights, including riparian rights and runoff rights * In some U.S. states, water rights are completely separate from land—see prior appropriation water rights * Mineral rights * Easement to neighboring property, for utility lines, etc. * Tenancy or tenure in improvements * Timber rights * Farming rights * Grazing rights * Hunting rights * Air rights * Development rights to erect improvements under various restrictions * Appearance rights, often subjected to local zoning ordinances and deed restrictions ''Possession'' is the actual holding of a thing, whether or not one has any right to do so. The ''right of possession'' is the legitimacy of possession (with or without actual possession), the evidence for which is such that the law will uphold it unless a better claim is proven. The ''right of property'' is that right which, if all relevant facts were known (and allowed), would defeat all other claims. Each of these may be in a different person. For example, suppose A steals from B, what B had previously bought in good faith from C, which C had earlier stolen from D, which had been an heirloom of D's family for generations, but had originally been stolen centuries earlier (though this fact is now forgotten by all) from E. Here A has the possession, B has an ''apparent'' right of possession (as evidenced by the purchase), D has the ''absolute'' right of possession (being the best claim that can be proven), and the heirs of E, if they knew it, have the right of property, which they cannot prove. Good title consists in uniting these three (possession, right of possession, and right of property) in the same person(s). The extinguishing of ancient, forgotten, or unasserted claims, such as E's in the example above, was the original purpose of statutes of limitations. Otherwise, title to property would always be uncertain. ==Equitable versus legal title== At common law equitable title is the right to obtain full ownership of property, where another maintains legal title to the property.〔In the United States, legal titles are those that were recognized by the law courts in England. Equitable titles were those recognized by the English chancery courts. Both concepts were adopted by the various states upon their creation except, possibly, those based upon European Civil Law, such as Louisiana. Most, if not all of the states have merged the law and equity courts into a single court system, though there may still be law and chancery divisions in some of the systems.〕 Legal title is actual ownership of the property. When a contract for the sale of land is executed, equitable title passes to the buyer. When the conditions on the sale contract have been met, legal title passes to the buyer in what is known as closing. Some companies, such as Econohomes/Visio Financial, use this term to describe a "trailing deed". This is not the case. Properties that are sold on the basis of equitable title have a legal chain of title intact, and a recorded transfer with the local municipality. Legal and equitable title also arises in trust. In a trust, one person may own the legal title, such as the trustees. Another may own the equitable title such as the beneficiary. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Title (property)」の詳細全文を読む スポンサード リンク
|