III.   Rights

A Title is a both a valid inscription or entry into the Asset Register of a Trust and a certificate or notice of proof of such entry and therefore claim of Right of Ownership. The word ‘Title’ is derived from the Latin word titulus meaning ‘inscription, label and notice (of entry) into a tabulae’ with the Latin word ‘tabulae’ literally meaning register. It was most commonly used in the context of a register of slaves. The Latin word for a registrar is ‘tabularius’.

The creation of Title occurs upon the valid entry of the claimed property into the Asset register of the Trust by the recording of a minimal set of information about the Property now also defined as an Asset. This minimal information includes:

(i) A Unique Identifying Number also called the Unique Register Number; and

(ii) A Name for the Property; and

(iii) The Day of entry into the Register; and

(iv) The Grantor/Provider of the Asset; and

(v) The Custodian of the Asset; and

(vi) The value of the Asset.

Two main forms of Title for the Same Property may exist in the Asset Register of a Trust, Legal Title and Equitable Title.

Legal Title refers to Rights of Ownership, usually held by the Trustee of the Executor of the Trust.

Equitable Title refers to the Rights of Use, usually held by the Beneficiary, Leaseholder, Tenant of Property of the Trust. While the word “Owner” is used with Equitable Title, it merely refers to the Title and not the Property of the Trust.

Title is distinct from possession, being a Right that usually accompanies ownership but is not necessarily sufficient to prove it.

Title formed under an Estate never contains rights of Real Property but merely rights of Real Estate, as even the first Estate must always by definition belong to a parent Trust.