What is meant by Equitable Title?

Equitable title refers to a person's right to obtain full legal ownership of a property in the future, even if they do not currently hold legal title. This concept is often applicable in real estate transactions where an individual has entered into a contract to purchase a property but has not yet completed all legal formalities to transfer actual title. Under equitable title, the buyer has certain rights regarding the property, such as the right to occupy and utilize it, and the right to benefit from it, despite not having legal title yet.

This principle is important in property law as it helps to protect the interests of individuals who are in the process of purchasing or acquiring a property. The other options focus on different aspects of property rights; for instance, the right to retain possession addresses actual possession rather than future ownership, while immediate ownership and transfer of ownership relate to existing legal title rather than the rights derived from having equitable title.