Equitable title is the beneficial interest in property, encompassing the rights to possess, use, and enjoy it. It becomes a separately identifiable interest whenever ownership is split between a party who holds bare legal title and a party who holds the practical benefits of ownership, as when a trustor retains equitable title to real property after conveying bare legal title to a trustee under a deed of trust, or when a buyer acquires equitable title upon executing a binding purchase agreement while the seller retains legal title until closing.