The items shown on the statement will reflect the purchase price, the funds deposited or credited to your account, payoffs on existing encumbrances and/or liens, the costs for all services and a determination of the funds you are entitled to at the close of the escrow.
In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. It is a way that real estate may be owned in common law countries, and is the highest possible ownership interest that can be held in real property.
In other words, fee simple is the deed, and equitable title is the right to obtain the deed in court.   Other Perspectives: If the town takes your property for failure to pay your property taxes you have an equitable interest until your rights of redemption have been barred by a court decree.