both legal and equitable

both legal and equitable
A phrase elaborating the sole and unconditional ownership clause of a fire insurance policy, meaning, according to some authorities, a vested legal, as well as an equitable, title, but, according to other authorities, no more than an equitable title with the right to the conveyance of the legal title. 29A Am J Rev ed Ins § 791.

Ballentine's law dictionary. . 1998.

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