“Holder of title” shall mean the owner of record of the fee title to land; provided, however, in the event the owner of record of such fee title has conveyed the equitable title to such land by way of a land sale contract and such contract or a memorandum thereof is recorded, “holder of title” shall mean the contract vendee thereunder and not the record owner of the fee title.
(Amended by Stats. 1974, Ch. 1157.)