Definition
Allodial title constitutes ownership of real property that is independent of any superior landlord. Allodial title is related to the concept of land held “in allodium”, or land ownership by occupancy and defense of the land. Historically, much of land was uninhabited and could, therefore, be held “in allodium”.
Absolute Title
What is ‘Absolute Title’
Title to a property that is free of any encumbrances or deficiencies. Absolute title gives unequivocal right of ownership to the owner, and cannot be disputed or challenged by anyone else. This is opposed to titles with liens, attachments or judgments against them. Also known as a perfect title.
Explaining ‘Absolute Title’
A title search will usually unearth any problems with regard to the title of a property. The search is well worth the cost when someone is considering buying real estate. A title search is usually conducted at the local registry office.
Further Reading
- Absolute Title Financing in Commercial Transactions – journals.sagepub.com [PDF]
- The importance of deviations from the absolute priority rule in Chapter 11 bankruptcy proceedings – www.jstor.org [PDF]
- Dignity in a legal context: Dignity as an absolute right – britishacademy.universitypressscholarship.com [PDF]
- " Relative" Ownership: Dual Ownership from Common Law Perspective and Deconstruction of Absolute Ownership in Continental Law System – en.cnki.com.cn [PDF]
- Pricing the risk of recovery in default with absolute priority rule violation – www.sciencedirect.com [PDF]
- The normative economics of health care finance and provision – www.jstor.org [PDF]
