What does title refer to in real estate?

In real estate, the term "title" primarily refers to the legal right of ownership of a property. It signifies the person's legal right to possess, use, and transfer the property. Having title means that an individual or entity has the authority to enforce their claim to the property, which includes the ability to sell, lease, or mortgage it. This conception of ownership encompasses any associated risks and responsibilities linked to the property.

While the physical document representing property ownership is indeed crucial in real estate transactions, it is secondary to the concept of title itself. The document may be referred to as the "title deed," but it merely serves as proof of ownership and is part of the broader legal construct of title. Similarly, a document that records property transactions pertains to the transfer of title but does not encapsulate the full meaning of what title represents. Lastly, a statement of intent to purchase pertains to the buyer’s interest in acquiring the property, which does not convey ownership rights until the title is transferred through appropriate legal processes.