Equitable versus legal title. At common law equitable title is the right to obtain full ownership of property, where another maintains legal title to the property.. Thus, in the list above, the last three (joint tenancy, tenancy in common, and tenancy in the entirety) involve joint possession. Issued in paper or digital format, the Certificate of Title provides a record of the ownership of a defined land parcel, and the lodged or registered interests or claims (encumbrances) against that ownership. They have been in the industry for several years now and had served numerous satisfied corporate clients and individual property owners. 2 Certificate of Title. Strata title, similar to a group title define the property as the airspace occupied by each unit, with common areas such as gardens and stairwells that are shared by each owner. If you are not married to the person with whom you are planning to share joint ownership of an asset, then joint tenancy is likely not the best type of ownership for the assets. Also Avoid This $66 Title Search Report (can get for $12.15) This historical title search is $66.00 dollars, again this report is just $12.15 on our government website. When the conditions on the sale contract have been met, legal title passes to the buyer in what is known as closing. As a result, other ownership forms must be utilized to minimize taxes and avoid probate. 3. … Strata title. Torrens title is commonly used for land or houses. The search will include public records and other land records spanning many years. OMI LAND TITLE SERVICES offers a wide range of land and property issues, including title verification, lost titles, title transfer, extrajudicial settlement, and unpaid property taxes. Land Title Guarantee Company was founded in Denver in 1967. You might be surprised to learn that over one-third of all title searches uncover some kind of problem. An official document indicating ownership of land is issued in the form of a Certificate of Title. An official title to land, or certificate, transferring land from a colony, state, or other governmental body to an individual; transfers ownership from the government to the private sector. A title investigator looks for any claims to the title that may affect your purchase. When you buy land in Australia, the most common type of property type is Torrens title or 'Freehold', because you’re buying both the land and the property or the land … This is a type of Torrens title which commonly refers to unit, apartment or townhouse properties. Types of ownership and tenancy include tenancy in common and joint tenancy. A validly existing marriage is a prerequisite for this type of title. 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