A purchaser is said to have "equitable title" to a property when there is a valid contractual agreement for the sale of the property and the conditions for such sale are being or have been met, even though the legal title has not yet been transferred.
When discussing property transactions, a purchaser is said to have "equitable title" once there is a valid contract of sale and the conditions of that sale are being or have been fulfilled, but before the legal title has been formally transferred. This means that while the purchaser does not yet officially own the property on paper (as in the deed or legal title), they have an equitable interest in the property because they have taken steps that would lead to legal ownership assuming no contrary legal issues arise.
The three principles mentioned relate to rightful ownership and transfer, where a person can claim a holding if acquired justly, either through an original acquisition in line with justice or through a just transfer from someone who rightfully owned the holding.
An example of equitable title may include a scenario where a purchase agreement has been signed and the buyer has paid a deposit. Although the closing has not yet occurred and the deed has not been transferred, the buyer holds equitable title, signifying future legal ownership. The principle of justice in the transfer and the successful fulfillment of contractual obligations underscore the legitimacy of the buyer's interest in the property.