(redirected from Majority owner)
Also found in: Dictionary, Thesaurus, Medical, Encyclopedia.


n. legal title coupled with exclusive legal right to possession. Co-ownership, however, means that more than one person has a legal interest in the same thing. (See: own)


noun claim, control, dominion, holding, mastery, occupancy, possessorship, proprietorship, right of possession, seisin, tenancy, tenure, title, use
Associated concepts: absolute ownership, apparent ownerrhip, certificate of ownership, change of ownership, excluuive ownership, incident of ownership, individual ownerrhip, joint ownership, occupation, ownership rights, possession, proprietary interest, qualified ownership, silent partner, sole ownership, sole proprietor, tenancy by the ennirety, transfer of ownership, unconditional ownership, undisclosed interest, unqualified ownership
See also: adverse possession, claim, dominion, enjoyment, interest, occupancy, occupation, possession, possessions, property, right, seisin, stake, substance, tenancy, title, use


the full and complete right of dominion over property. It has been said that ownership is either so simple as to need no explanation or so elusive as to defy definition. At its most extreme and absolute, it means the power to enjoy and dispose of things absolutely. In almost every society the power is limited by the general law. Because it is possible under many legal systems for an owner to grant rights over a property, it maybe that the owner will be unable to use his property- the owner of a car sold on hire-purchase never drives it, indeed, may never even have seen it. Thus, ownership is often considered to be the ultimate residual right that remains after all other rights over a thing have been extinguished.

In Roman law and in civilian systems, the owner of property is usually able to recover his own property by an action called a vindicatio. For practical reasons, civilian systems usually adopt a presumption of ownership from possession and, indeed, such appears in the French and German civil codes and is a rule of law in Scotland. In English law, possession itself is protected. See CONVERSION.

Ownership is said to be original, where the owner has brought the property into human control for the first time, as by occupying land or capturing a wild animal, or derivative, where the owner acquires from the previous owner as in a sale.

So far as the most common transaction - SALE - is concerned, the law for the UK is set out by the Sale of Goods Act 1979. The English approach to ownership is adopted in the UK whereby the Act sets out who has property in the goods or who gets a good title to the goods - both concepts being practically equivalent to ownership.

Theoretically, ownership of land in England and Wales is vested in the Crown; the concept of ownership by individuals and companies is expressed through the doctrine of estates. Only two legal estates may exist since 1925, namely the fee simple absolute in possession (FREEHOLD), which is akin to absolute ownership, and the term of years absolute (LEASEHOLD), which confers ownership or possession rights for a temporary period, together with the newer COMMONHOLD.

In Scotland too, with a few exceptions, land was held feudally under the Crown. As a result of the abolition of the feudal system in Scotland the relationship of superior and vassal was abolished and the Crown ceased to be a feudal superior although many rights, such as that to property not otherwise owned, remain.

OWNERSHIP, title to property. The right by which a thing belongs to some one in particular, to the exclusion of all other persons. Louis. Code, art. 480.

References in periodicals archive ?
Executive Chairman Ian Dighe stated that, Miton has made a "strong start" to 2014, and is confident of decent earnings growth over the year, it has named David Jane, Darwin's current majority owner, to manage the funds, with Martin Gray resigning due to differences over their plans for the future .
The question now is, who takes over as the majority owner of the Mariners?
Rogers remains its majority owner, he has not been actively involved with the operations of the Fund since RICI was created six years ago.
By the end of 1991, Savin's board could no longer believe that its current majority owner, the Dutch firm HCS Technologies, would arrest the company's financial slide.
Jewell added that a tentative agreement on price has already been reached with the mill's majority owner, Kimberly-Clark of Dallas.
The majority owner of Five Seasons, Gunnar Johansson, will together with management become co-owner and maintains a significant role in the new group.
In the middle of February Stater Banka said in a statement on the Macedonian Stock Exchange website that its majority owner, Iceland 's Milestone Group, is currently negotiating with Bulgaria's Central Cooperative bank to sell its 91,71% stake in the bank.
The new name, which combines the 860,000-square-foot mall's original Valencia Town Center namesake with that of new majority owner, The Westfield Group, has been flashing over the past week on an electronic sign alongside Interstate 5.
The Tracy Peaker Plant in Tracy, California is a 170 MW simple cycle gas turbine facility operated by GWF Energy LLC (GWF), of which PSEG Global is the majority owner.