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

The term "title" in real estate refers to the legal ownership of a property. When someone holds the title to a property, it means they have the legal rights to possess, use, and transfer that property. Title signifies the owner's right to keep the property free of claims from others, and it is essential for transactions such as buying, selling, or refinancing real estate.

Understanding the concept of title is crucial for buyers and sellers, as it ensures that the person selling the property has the rightful ownership to do so. Title is typically documented in a title deed, which includes information about the property, the current owner, and any liens or encumbrances that may exist.

In contrast, the other options do not accurately represent what "title" means in real estate—tax documents, property value assessments, or mortgage agreements all pertain to different aspects of real estate finance but do not define legal ownership.