In real estate, what does the term "title" refer to?

The term "title" in real estate refers to the legal right to ownership of property. It encompasses the rights and interests that an individual holds in a piece of real estate. When someone has title to a property, they have the authority to use, transfer, and sell that property as they see fit, subject to any encumbrances or restrictions that may be in place. Title also represents the legal evidence of ownership, which can be confirmed through public records, often documented in a title deed.

Understanding title is crucial for buyers and sellers in real estate transactions because it affects the ability to sell or encumber the property. A clear title indicates that the property is free of any legal claims or liens, which is highly desirable in any transaction. In contrast, problems with the title can complicate or even prevent a sale, highlighting the importance of conducting title searches and obtaining title insurance during real estate transactions.

The other options do not accurately describe what "title" means in the context of real estate. Pricing properties, conducting property surveys, and marketing strategies pertain to different aspects of real estate practice that are not related to the concept of legal ownership.