title
Definition
Title is your legal proof of ownership over a piece of property, whether that's a building, land, or vehicle. It means you have the recognized right to use, sell, or transfer that property however you choose. Think of it as the official answer to the question 'who actually owns this?'
Example
When you buy a commercial space for your bakery, the title transfers from the seller to you, and that transfer gets recorded with your local government so everyone knows you are the rightful owner.
Watch Out
Before buying any property for your business, always do a title search to make sure the seller actually owns it free and clear, with no hidden debts or legal claims attached to it.
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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.