Title To Goods Definition

When two or more people own something jointly, they each have a share of the ownership. The term “title to goods” refers to the right of one person to possess and use property that is jointly owned with another person. The title holder has the right to exclude others from using the property and to sell or dispose of their interest in the property.

Title to goods can be created by agreement between the owners, by operation of law, or by court order. When title is held by joint tenants, both owners have an equal right to use and possess the property. If one owner dies, the other owner becomes the sole owner of the property. When title is held by tenants in common, each owner has a separate and distinct interest in the property. Ownership interests can be equal or unequal, and owners can sell or transfer their interests without the consent of the other owners.