A very short introduction into the Application–> Registration –> Certificate process as it comes up a lot.
Property that is submitted through the Application–> Registration –> Certificate process undergoes a fundamental change in who/what has control over that property.
The motor vehicle is a good example. The registration of the vehicle by the owner means the owner as a Grantor is placing property into a trust which splits the title of that property into legal and equitable title.
Legal title provides a mechanism for the trustees of the trust to control the property and make sure the property in the trust is used correctly by the beneficiaries eg in a court of law. The Equitable title allows the beneficiary to make use of that property including selling/transferring the property to another beneficiary.
The same is said for anything that undergoes the application, registration, certificate process. This can include the birth certificate process where the human body is registered with a name eg MR BOB JONES (hence why companies have Human Resource departments or Human capital management services). The Human body is not you, you live inside it, you have a security interest in it – legally it is simply considered property that is managed by the trustees. Is this a problem? No. It means one may need to better understand how to “sail” the seas of commerce and how contracts are created and enforced with your body.
In summary, with a motor vehicle:
- The Grantor (eg You) places property into the trust
- The Trustee (eg the State or their agent) manages the property
- The Beneficiary (eg you or someone else) makes beneficial use of the property