Ownership Definition

GLOSSARY

Published by a UU��ֱ�� Commercial expert

What does Ownership mean?

The term ownership denotes a wide array of rights over property.

Ownership appears to have the widest set of rights over property and sometimes is called “absolute ownership” including rights of exclusive enjoyment, of destruction, alteration and alienation, of maintaining and recovering possession of the property from all other persons. Ownership of land differs from ownership over personal property or over goods in that the common law did not treat land as the subject of absolute ownership but only of tenure. Also, the common law did not recognise the alternative that the ownership of goods could be split up into lesser successive interests or estates, or remainders or reversions in chattels. See Halsbury's Laws of England, 80 (5th), 812, 813.

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