The Laird title is based on old Scots law and custom and is a title of ‘corporeal hereditament’ (an inheritable property that has an explicit tie to the physical land). The title may not be bought or sold without selling the land, as opposed to a British Lord title which follows the holder if he sells his estate and moves somewhere else. However, the Laird title may be inherited and sold together with the land.

 The title of Laird is the Scottish equivalent to that of an English Squire in the sense that it is a courtesy title and does not give the owner the right to sit in the House of Lords as such it is not the equivalent of an English Lordship, which is a title of peerage.

Many male Lairds choose instead to use the English translation - "Lord", since it is more well-known outside of Scotland.