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Simple English definitions for legal terms
string of title
Read a random definition: memorandum of alteration
A quick definition of string of title:
String of Title: The history of who has owned something, like a piece of land or a piece of paper, from the very first owner to the current one. It's like a long chain that connects all the owners together. If any part of the chain is missing or fake, then the current owner might not really own it.
A more thorough explanation:
A string of title is the ownership history of a piece of property or commercial paper. It shows who has owned it from the first owner to the current one.
Example 1: John buys a house from Sarah, who bought it from Tom, who bought it from Mary. The string of title for the house would be Mary → Tom → Sarah → John.
Example 2: A company issues a bond and sells it to an investor. The investor then sells it to another investor, who sells it to a third investor. The string of title for the bond would be the company → first investor → second investor → third investor.
These examples illustrate how the string of title shows the ownership history of a property or commercial paper. It is important to have a complete and proper string of title to ensure good title and ownership rights.