Which of the following is NOT a component of title?

The identification of a component of title primarily involves understanding the legal framework surrounding property ownership. Title refers to the legal right to own, use, and control a property. The components typically associated with title encompass various rights that come with ownership.

The option regarding ownership of the physical property document is not a component of title because title itself is not about holding a document but rather the rights associated with ownership. The physical document, such as a deed, serves as evidence of ownership but does not embody the title itself. Title pertains to the legal rights that someone holds over a property, which can include the rights to lease the property, the legal rights concerning various interests, and the overall bundle of rights that includes possession, use, and transfer of ownership.

Understanding the distinction between the evidence of title (the physical document) and the rights conferred by title clarifies why the ownership of the physical property document does not constitute a component of title.