Basic Text effect

If you are working on a project that was created in an older version of After Effects and the Basic Text effect is applied to one or more layers, you can continue to use the Basic Text effect; otherwise, use text layers for greater control over text formatting and text animation. (See Creating and editing text layers.)

The Basic Text effect places text on an existing layer—unlike text created on text layers or imported text created in Adobe Photoshop or Adobe Illustrator, either of which becomes its own layer.

This effect works with 8-bpc color.

Note: The width and height of text aren’t constrained by the dimensions of the layer; the layer dimensions merely define the visible region of the text.
Position
The position of the text on the layer.
Note: The Alignment setting in the Basic Text dialog box affects the behavior of the Position point. The point always positions the vertical center of the text relative to the layer. However, if the text is left-aligned, the point positions the left edge; if the text is center-aligned, the point positions the center; and if the text is right-aligned, the point positions the right edge.