own and hold title to

Discussion in 'Legal Terminology' started by Carol_Thatter, Dec 7, 2012.

  1. Carol_Thatter Senior Member

    Caballito, Buenos Aires - Argentina
    Castellano - Argentina
    Hi all :)
    Not sure if this thread would be better placed on the Legal Forum, please let me know if I shall move it.
    Still translating Capital Assets Corporate Policy, I found this expression. I was under the impression that 'own' and 'hold title to' had the same meaning but as for this sentence that seems not to be the case... So I once again need your kind help and experience to sort it out. What would be the difference between 'own' and 'hold title to' here? If anyone is familiarized with the Spanish terms or can provide a definition in English I'd be really grateful! :)


    In order for design & development costs to qualify for capitalization, XXXXX must own and hold title to the asset.
     
    Last edited: Dec 7, 2012
  2. RicardoElAbogado Senior Member

    SF Bay Area, California
    American English
    Title is how ownership appears to the world but it does not necessarily show who the true owner is. For example, let's say that I buy real property in my name and the deed is recorded showing title vested in me. I have both title and ownership. Now let's say that you and I form a partnership, and you contribute money and I contribute my real property, but we never transfer title to the real property into the name of the partnership. (This can be a valid arrangement under US law.) in this situation, the partnership owns the real property but does not have title, which remains in my name.
     
  3. Carol_Thatter Senior Member

    Caballito, Buenos Aires - Argentina
    Castellano - Argentina

    Thank you so very much for your help, your explanation is crystal clear! :)
     

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