What is the term for the documentation that defines property ownership through legal rights?

Study for the ASU REA380 Real Estate Fundamentals Exam. Use flashcards, multiple choice questions, and get hints and explanations for each question. Prepare thoroughly for your exam!

The term that defines property ownership through legal rights is "title." Title refers to the legal right to own, use, and control a property. It signifies that the individual or entity possesses full ownership as recognized by law, encompassing all associated rights, privileges, and responsibilities. Obtaining a title is a crucial step in real estate transactions because it validates the owner's claim to the property and ensures that they can exercise their ownership rights without any disputes.

A deed, though related to property ownership, serves as an official document that transfers ownership from one party to another. While it is essential in the process of establishing title, it is not the term that encapsulates the concept of ownership itself. A lease pertains to the right to use a property for a specified period in exchange for payment, but it does not confer ownership rights. A fixture refers to an item that is permanently attached to a property, and while it can be an aspect of property ownership, it does not define ownership in its legal context.

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