Q&A

Question: What does legal title in relation to product delivery mean?

Legal title means the legal ownership of the product, rather than who has possession of the product. For example, a wholesaler may sell a piece of equipment to a customer on 30-day credit terms. The wholesaler will usually retain legal title in the product until payment is received from the customer, meaning that until full payment is made the wholesaler is the legal owner of that property and may claim the property later on.