right title and interest
Definition
This phrase means everything someone legally owns or has a claim to in something, whether that's physical property, a business, or intellectual property. When someone transfers their 'right, title, and interest,' they are handing over every single legal claim they have, leaving nothing behind for themselves.
Example
If you buy a competitor's business and the contract says they are transferring all right, title, and interest in their customer list and trademark, that means you now own those assets completely and they cannot use them anymore.
Watch Out
Sellers sometimes try to limit what they actually transfer, so always make sure a contract spells out exactly what assets are included rather than relying on this phrase alone to cover everything you think you are buying.
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This definition is for informational purposes only and does not constitute legal advice. Please consult with a licensed attorney for legal guidance.