Quote Originally Posted by Goldi View Post
When a property is mortgaged, the singular title on it, the land patent, has to be shelved so the title can be split.
Historically, when property was mortgaged, the title was transferred to the creditor. After complete settlement of the terms of the mortgage, the title was re-conveyed or redeemed by the debtor.

Historically, the letters patent was issued by the king. This patent was not absolute ownership or dominion. A letters patent is still qualified ownership for their would be terms and conditions written into the patent for the benefit of the king.

Quote Originally Posted by Goldi
The legal title then goes to the occupant of the home, the "owner" and the equitable title is then available to be held by the county assessor/treasurer.
I will agree that there is some interest which the county purports to have in the land and appurtenances thereon.
The tenant, in most instances, will have legal and equitable interest in the property. There is some liability attached to the legal title upon tenure of such.

Quote Originally Posted by Goldi
When foreclosed, the bank gets the legal title to convey. Who gets the benefit of the profits, fees, rents, surpluses of investing the "res"? The equitable owner. Who pays the fees, fines, taxes? The legal owner. Isn't that what is going on with property taxes?
With registration and mortgage, the property is treated as a registered investment.
The presumption being that one is in commerce for profit and gain.

Quote Originally Posted by Goldi
The counties MUST hold an interest in the property to be able to bond it up. That's how they are doing it.
Perhaps the counties purport to hold an interest, but no one bothers to research the law and challenge them on such claim?