Firstly, the world in which your story is set - do they use titles to denote rank? Do these differ between species? Are some species excluded from any titles at all? How are titles given? Can they be earned and, if so, how?
Secondly, property (you knew it had to come in somewhere!) - how does your world distribute title to property? Can anyone own property? Do your characters have to earn their right to obtain title like this? Or is all land owned by one feudal or royal overlord and all title is held by them?
Can title (of any sort) be challenged or revoked? Who would do so and why?
Now there are some thoughts for story ideas for you!
Image Credit: Pixabay - captions on the CFT post.