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The right of possession and equitable title is held by the ____

A vendee.

The reference to “equitable title” indicates this question is framed in the context of a land sales contract in which the participants are the vendor (seller) and the vendee (buyer). In most cases, the party name ending in “or” owns the real estate. The “ee” (vendee) is the buyer and therefore has possession and equitable title of a property, but not legal title.