What type of title does Martha hold as the buyer in a land contract?

Martha holds an equitable title as the buyer in a land contract because an equitable title arises when a buyer has entered into a contract to purchase property but has not yet received the legal title. This concept reflects the buyer's interest in the property, which grants them certain rights, such as the right to use or occupy the property, even though the legal title remains with the seller until the purchase terms are fulfilled.

In contrast, legal title represents ownership that is typically transferred at the closing of the sale, which has not occurred in this scenario. Interim and shared titles do not apply specifically to the context of a land contract and thus wouldn't accurately describe Martha's situation in this case. Understanding the distinction between equitable and legal titles is essential for grasping property rights and the legal implications of contracts in real estate transactions.