owner


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Owner

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.

owner

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)

owner

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 ?
Because our firm typically represents owners, we draft agreements from the owner's perspective.
Business activities: In a tenancy in common, owners can participate in business activities.
Creating a continuity plan for the business to guard against the death or disability of the owner.
Martin brilliantly shows that the system of slavery contained the elements for its own undoing through the triangular relationship between owners, hirers, and slaves and the divided mastery that hiring practices required.
With enough lead time, owners can identify appropriate managers, prepare them for the challenge of ownership and establish a financing structure that enables the incoming owner or owners to buy the business over time and deliver fair value for the owner's equity.
Having an agreement gives an owner a ready market for his or her business interest, resolves estate liquidity issues, provides a framework for establishing the purchase price of the interest and reduces disputes.
However, absent prior contact indicating that a paraphernalia shop owner will cooperate, investigators first should make a case against the store before "quietly" approaching the owner away from the business.
This definition is intended to apply broadly and, for example, will cover an arrangement under which a contract's non-owner provides funds directly to the owner with which the owner pays premiums--as long as the non-owner is entitled to recover, conditionally or unconditionally, all or some of the contract's proceeds (e.
Dog owners beware - homeowners insurance has become more expensive and more difficult to find as liability claims and jury awards for dog bites skyrocket.
CALVIN GRIFFITH, ONETIME OWNER of the original Washington Senators baseball team, was once asked why he moved the team in 1960 from Washington, D.
These independent contractors keep the payments made by their clients, and pay the owner a weekly fee.
A forest owner will be considered to be materially participating in his woodland activity if any one of the six applicable tests are satisfied during a particular tax year.