Ownership Definition Characteristics of Ownership Possession and Ownership Austin's conception of Ownership Different kinds of Ownership

Two brothers inherit a flat in Kharghar. Neither can sell it without the other, yet each calls himself the owner. The bank that lent money against it holds a right over it too, and so does the society it stands in. Who 'owns' the flat, and what does owning mean if so many people have a say? Ownership is the largest right a person can have in a thing, and jurisprudence asks what it contains, how it differs from merely holding the thing, and how many forms it takes.

In two minutes

Ownership is the most complete bundle of rights a person can hold over a thing: use, enjoyment and disposal, without a fixed time limit; it differs from possession, which is control of the thing, and it comes in several kinds (sole and co-ownership, legal and equitable, corporeal and incorporeal, absolute and limited).

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