Titled person's bad mood after losing head (5)

I believe the answer is:

owner

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'titled person's' is the definition.
'owner' can be an answer for 'person's' (owner is a kind of person). I'm unsure of the 'titled' bit.

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for owner that I've seen before include "Possessor, proprietor" , "Title-holder" , "Man of property" , "Title holder?" , "Person having property" .)

I've seen this clue in The Guardian.

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