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The person recognized by the law as having the ultimate control over, and right to use, property as long as the law permits and no agreement or Covenant limits his or her rights.


n. one who has legal title or right to something. Contrary to the cynical adage: "Possession is nine-tenths of the law," possession does not necessarily make one a legal owner. (See: own)


noun claimer, controller, holder, homeowner, householder, land owner, landlord, lessor, legitimate perron entitled to, master, occupier, person holding ownerrhip on record, possessor, property owner, proprietor, record-holder, retainer, title holder
Associated concepts: beneficial owner, co-owner, equiiable owner, general owner, gun owner, joint owners, owner of copyright, part owners, record owner, repeated owner
See also: director, employer, holder, lessor, principal, proprietor, shareholder, tenant

OWNER, property. The owner is he who has dominion of a thing real or personal, corporeal or incorporeal, which he has a right to enjoy and to do with as he pleases, even to spoil or destroy it, as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right.
     2. The right of the owner is more extended than that of him who has only the use of the thing. The owner of an estate may, therefore change the face of it; he may cut the wood, demolish the buildings, build new ones, and dig wherever he may deem proper, for minerals, stone, plaster, and similar things. He may commit what would be considered waste if done by another.
     3. The owner continues to have the same right although he perform no acts of ownership, or be disabled from performing them, and although another perform such acts, without the knowledge or against the will of the owner. But the owner may lose his right in a thing, if he permit it to remain in the possession of a third person, for sufficient time to enable the latter to acquire a title to it by prescription, or lapse of time. See Civil Code of Louis. B. 2, t. 2, c. 1; Encyclopedie de M. D'Alembert, Proprietaire.
     4. When there are several joint owners of a thing, as for example, of a ship, the majority of them have the right to make contracts in respect of such thing, in the usual course of business or repair, and the like, and the minority will be bound by such contracts. Holt, 586; 1 Bell's Com. 519, 5th ed. See 5 Whart. R. 366.

References in periodicals archive ?
BOQ currently operates about 180 owner-manager and 90 corporate branches.
A survey of the SME sector by fds Corporate Finance, led by Denby Dale-based businesswoman Jo Haigh, showed that more than half of firms polled have increased turnover and net profits in the past 12 months while 70% of owner-managers surveyed expressed a positive outlook for the year ahead.
Delivered at no cost to delegates, LEAD Wales is designed to meet the specific needs of owner-managers, integrating active teaching with action learning and encouraging participants to share knowledge and experience with their peers.
To determine whether the owner-manager had acquired environmental management knowledge via training they were first asked: Have you had any specific environmental management practice training?
Owner-managers also expect services that meet their needs, which are numerous and vary according to the firm's activity sector or development stage, and the owner-manager's ambitions (R.
Since 1988 almost 1,000 owner-managers have taken part in the BGP, including well-known entrepreneurs such as Karan Bilimoria of Cobra Beer, Angus Thirlwell of Hotel Chocolat and Lara Morgan at Pacific Direct.
For example, the owner-manager of a small business who takes a salary of pounds 10,000 and whose company makes a net profit of pounds 10,000 that is retained, will be pounds 1,832 worse off in 2006/07 than in 2005/06.
At the heart of this money-saving operation is HRC Group's body of "virtual finance directors", a team of consultants, hand picked for their financial pedigree which give every SME owner-manager the opportunity to have their very own finance director within their company.
This calls for explicating domain's conditions and consequences in the owner-manager context.
Bear Stearns Unit to Acquire Established Owner-Manager of U.
Problems don't simply occur in dramatic situations, such as the death of an owner-manager.
After paying tax it is very often financially disadvantageous for the owner-manager to sell.