An old phrase that means that one who transfers property has the property in hand and intends to hold it and transfer it to the transferee. Frequently used as a phrase during a marriage ceremony which indicates the intention of the parties to be joined together as one.
Law Dictionary – Alternative Legal Definition
The words in a conveyance which show the estate intended to be conveyed. Thus, in a conveyance of land in fee simple, the grant is to “A. and his heirs, to have and to hold the said [land] unto and to the use of the said A., his heirs and assigns forever.” Williams, Real Prop. 198. Strictly speaking, however, the words “to have” denote the estate to be taken, while the words “to hold” signify that it is to be held of some superior lord, i e., by way of tenure, (q. v.) The former clause is called the “habendum;” the latter, the “tenendum.”