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.
I will agree that there is some interest which the county purports to have in the land and appurtenances thereon.Originally Posted by Goldi
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.
With registration and mortgage, the property is treated as a registered investment.Originally Posted by Goldi
The presumption being that one is in commerce for profit and gain.
Perhaps the counties purport to hold an interest, but no one bothers to research the law and challenge them on such claim?Originally Posted by Goldi