Define "title" in the context of real estate ownership.

In the context of real estate ownership, "title" refers to a legal term indicating ownership rights to a property. This definition encompasses the bundle of rights that an owner holds in relation to that property, which includes the right to possess, use, and transfer the property. Holding title means that the individual has a legal claim or interest in the property, which can be protected under the law.

The concept of title also relates to the formal documentation that establishes ownership. This documentation may include a title deed, which provides evidence of ownership and outlines any restrictions or encumbrances on the property. Understanding "title" is vital for real estate transactions, as it confirms the legitimacy of ownership and ensures that the title can be transferred without legal disputes.

Other options lack the essential connection to ownership rights. For example, a contract to lease a property pertains to rental agreements but does not convey ownership. A list of property attributes might detail characteristics of the property but does not address ownership rights. Finally, a verification of property value relates to assessments or appraisals rather than the legal ownership from which "title" derives its significance.