ownership


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ownership

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)

ownership

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

ownership

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 classic literature ?
In tiny Switzerland there has been government ownership from the first, but with less detriment to the business than elsewhere.
Hunter, on recovering from his stupor, was also quite positive as to the ownership of the cravat.
Now and then he turned his eyes from the girl's face to that of her partner, which, in the exhilaration of the dance, had taken on a look of almost impudent ownership.
Gift, in one case, makes it as really the new owner's, as labor made it the first owner's: in the other case, of patrimony, the law makes an ownership which will be valid in each man's view according to the estimate which he sets on the public tranquillity.
When freedom came, the slaves were almost as well fitted to begin life anew as the master, except in the matter of book-learning and ownership of property.
As for the property which was the sign of that broken tie, she would have been glad to be free from it and have nothing more than her original fortune which had been settled on her, if there had not been duties attached to ownership, which she ought not to flinch from.
With the latter in his possession, the ransom which might be obtained for the captive would form no great inducement to her relinquishment in the face of the pleasures of sole ownership of her.
He looked up through the green leaves at the blue sky, bedappled with white, fleecy clouds, and wondered whether she guessed that his appearance here, his ownership of Iris, the studious care with which he had placed himself in the hands of a Seville Row tailor were all for her sake.
The ownership of a block of seven claims in the heart of it gave Daylight his grip and they could not come to terms.
Higginbotham such a dinner was advertisement of his worldly achievement and prosperity, and he honored it by delivering platitudinous sermonettes upon American institutions and the opportunity said institutions gave to any hard-working man to rise - the rise, in his case, which he pointed out unfailingly, being from a grocer's clerk to the ownership of Higginbotham's Cash Store.
Charley glanced astern at the fishermen with a look of ownership in his eye which till then had been missing.
I didn't see how sweeping and scrubbing a building was any preparation for the trade of electrician; but I did know that in the books all the boys started with the most menial tasks and by making good ultimately won to the ownership of the whole concern.