Does anyone know the exact limitations of an equitable title? Say, for example, a buyer is purchasing a property, he/she automatically has an equitable title in the property. He/she wants to flip it immideately (he/she fully discloses the purpose of the purchase to all parties involved). Does that give him/her enough right to advertise the property and to have a buyer lined up and ready to go? Or is it something that is not legal? Can a seller with equitable title in the property only be advertising it for sale? Can he/she be signing the contracts and having a new buyer ready to close within days after he/she takes the legal title of the property? Or is it another scam?
I's like opinions supported by legal references, please. Greatly appreciate all the feedback.
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