Property Ownership
In Kansas, what is 'equitable title' versus 'legal title'?
AThey are identical forms of ownership
BLegal title is formal ownership recorded in public records; equitable title is the beneficial interest held by a contract purchaser who has the right to acquire legal title✓ Correct
CEquitable title is held by the lender; legal title by the borrower
DLegal title is held by the government; equitable title by the property owner
Explanation
Legal title is recorded ownership shown in public records. Equitable title is the beneficial interest of a buyer who has a contract to purchase — they have the right to acquire legal title but formal transfer has not yet occurred.
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