This document discusses the concept of ownership and its evolution from possession. It distinguishes between possession and ownership, with ownership conferring absolute rights over a thing and possession implying only physical control. Two main theories of ownership are described - one viewing it as the relation between a person and a thing, the other as the relation between a person and the rights vested in them. Different types of ownership are defined, including sole vs co-ownership, legal vs equitable ownership, vested vs contingent ownership, and absolute vs limited ownership. Trust and beneficial ownership are explained as situations where legal ownership is held by a trustee for the benefit of the beneficial owner.

1. RIGHT OF
OWNERSHIP

2. Introduction:
The concept of ownership arouse when
the wandering sapiens started planting
trees and farming the land which
demanded them to settle down in a
particular land for their lifetime. Firstly,
the idea of possession gained ground
and later the concept of ownership
stirred up
Distinction between possession and
ownership:
The terms Dominium and Possessio were
firstly originated to make a distinction
between the concept of ownership and
possession.
• Dominium denote to absolute right to
a thing
• Possessio implied only physical
control.
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3. “
Two main theories with respect to the idea of Ownership
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Theories of ownership
Relation subsists
between a person
and a thing
Relation between
a person and a
right that vested
in him

4. Austin
Ownership means a right which
avails against everyone who is
subject to the law conferring the
right to put thing to user of
indefinite nature
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5. “
MARKBY
If all the rights over a thing were centered in one
person that person would be the owner of the
thing; and ownership would express the condition
of such person in regard to that thing
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6. Attributes as prescribed by Austin
◎ Indefinite in point of use, i.e. Utendi
◎ The right of transfer of property, i.e. Possidendi
◎ The right of ownership is permanent but include
right to dispose of the property, i.e. Dispodendi
◎ Right to exhaust the thing
◎ The owner may part with any right relating to
ownership
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7. Right of ownership
right of ownership is the right to
the entirety of the lawful uses of
a corporal thing. It is not just one
right it is in fact bundle of rights,
e.g. rights, liability, power and
immunities.
Right of Ownership and ownership of right
Ownership of right
The jural relation between a
person and a right
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8. Kinds of Ownership
o Corporeal ownership.
o Incorporeal
ownership.
o Sole ownership.
o Co-ownership.
o Legal ownership.
o Equitable ownership.
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oTrust and beneficial
ownership.
oVested ownership.
oContingent
ownership.
oAbsolute ownership.
oLimited ownership.

9. Corporeal And Incorporeal
Ownership
Corporeal ownership is
ownership of material object
and incorporeal ownership is
ownership of a right
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10. Trust and beneficial ownership
Trust ownership
When there are two
owners of the property
and one of then
possesses the property
for the benefit of the
other owner. The trustee
is nominal and not the
real owner
Beneficial
Ownership.
The owner of the trust
property. He enjoys all
the benefits of the trust
property
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11. Legal and Equitable Ownership
Legal ownership:
Has its origin in the rule of common law. It acts in rem.
Equitable ownership:
Proceeds from rules of equity. It acts in personam. X transfers his share in a
company to Y without executing a proper transfer dee. The law may not
consider such transfer but the equity shall
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12. Vested and Contingent Ownership
1. Ownership with perfect title is vested
ownership
2. When the ownership can become vested on the
fulfilment of certain condition it is contingent
ownership
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13. Sole Ownership and Co-Ownership
When a right of ownership vests in one person it is sole
ownership and when this right is vested in more than one
persons the same is called co-ownership.
The co-ownership implied that the right is an undivided
unity. Co-ownership ends by means of partition of the
property
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14. Co-ownership and
joint ownership
Ownership in common is different from joint
ownership. In case of ownership in common the right
exists even after death of co-sharer and devolve
upon his legal heirs but in case of joint ownership the
right extinct with death of joint owner

15. Absolute and limited
ownership
An absolute owner is one in whom are vested all the
rights of ownership to the exclusion of all others
whereas when there are limits on the owner of
property the right is called limited

16. Conclusion
The ownership is absolute right over property until
its use does not amount to interfering in the right of
other’s. however, the possession is the essence of
ownership.