What type of title does the seller hold when the buyer has equitable title?

When a buyer has equitable title, the seller typically holds legal title. Legal title refers to the actual ownership and the rights associated with the property, while equitable title represents the buyer's interest and rights in the property, typically obtained through a contract or an agreement to purchase.

In this scenario, even though the buyer has an equitable interest and may have the right to possess and control the property in the future, the legal title remains with the seller until the transaction is completed and the title is formally transferred. Therefore, the seller's ownership is recognized legally, which is why the answer identifies the seller as holding legal title when the buyer has equitable title.

Marketable title, on the other hand, refers to a title that is free from significant defects, which isn't indicated here. Defeasible title refers to ownership that can be voided under certain conditions, which does not apply in this situation. Statutory title typically pertains to titles derived from specific statutes and would not be the appropriate term for the situation described.