Title Definition: A title is defined as a document that provides details of the legal ownership of an asset or property. The individuals or parties included in a title represent the collective ownership, which is considered a form of an intangible asset, much like a patent or trademark. You can either buy a title or inherit it as a beneficiary of an estate.
A title can apply to ownership, possession, and occupation, all components of owning or owning property or asset. If there are any changes to a title, this must be done legally and with the approval of all current owners of the property, vehicle, or asset.
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