In some cases the legal title is in one party, while the beneficial right of ownership belongs to another. In such cases the law courts only recognize the legal title, and the protection of the beneficial right of ownership is left to the courts of equity. Titles recognized by courts of equity but not by courts of law are called equitable titles.

Equitable titles include the following: 'Trusts; married women's separate property; equitable interests arising from the operation of the doctrine of conversion; equitable estates or interests arising from mortgages of real or of personal property, and from pledges of chattels or securities; equitable liens on real and on personal property; equitable interests of assignees arising from assignments of things in action, possibilities, and the like, not assignable at law, or arising from transactions which do not at law operate as assignments." 1

1 Pomeroy on Equity Jurisprudence, Sec. 150.