What type of title does a vendor hold?

A vendor typically holds legal title in a real estate transaction, which grants them ownership of the property until it is sold or transferred to the buyer. This legal title represents the vendor's rights to the property, allowing them to sell, lease, or otherwise manage the property as they see fit.

In the context of a sale, the vendor's interest is primarily focused on the right to receive payment for the property, as the legal title conveys the responsibility and authority over the property, while the buyer may only hold equitable title until the transaction is completed. This means that while the vendor retains the legal title, they also maintain the obligation to transfer ownership to the buyer once payment and all conditions of the sale are fulfilled. This distinction underscores the vendor's position in the transaction and emphasizes the financial aspect of their role.

The alternative options do not accurately describe the nature of the title held by the vendor. Equitable title typically pertains to the buyer's rights prior to finalizing the sale, while a partial title subject to liens would not apply to a vendor with a clear legal title. Therefore, the correct understanding is that the vendor holds legal title, which fundamentally aligns with their rights to receive payment for the property transferred.