Title and transfer
Equitable title
The buyer’s right to obtain legal title once the contract conditions are met
It arises the moment a valid purchase contract is signed, and it is the reason a buyer under contract has a real interest in the property before closing. Legal title stays with the seller until the deed is delivered.
How the exam asks about it
The window between contract and closing is exactly what this term describes, and questions about who holds what during that window are asking about it.
Related terms
Sitting the license exam? Find out what you actually know.
Free practice questions built to the published national content outline, with an explanation after every answer. No account, no paywall.
Independent exam preparation. Real Estate Exam Bank is not a state-approved pre-licensing course and completing anything here does not satisfy any state education requirement. Not affiliated with, endorsed by, or authorized by any state real estate commission, Pearson VUE, or PSI. Practice questions here are original study material, not the official exam.