Ownership‌i‌n‌J

‌ urisprudence‌  ‌

Introduction‌  ‌

The‌  ‌word‌  ‌ownership‌  ‌strikes‌  ‌the‌  ‌imagination‌  ‌with‌  ‌the‌  ‌picture‌  ‌of‌  ‌property,‌‌ 
property‌  ‌without‌  ‌which‌  ‌there‌  ‌can‌  ‌be‌  ‌no‌  ‌ownership‌  ‌or‌  ‌possession.‌  ‌During‌‌ 
the‌  ‌earliest‌  ‌of‌  ‌times‌  ‌when‌  ‌humans‌  ‌were‌  ‌nomads‌  ‌and‌  ‌did‌  ‌not‌  ‌posses‌  ‌the‌‌ 
skill‌  ‌of‌  ‌cultivation‌  ‌and‌  ‌civilization‌‌
  the‌‌
  concept‌‌   of‌‌
  ownership‌‌  never‌‌
  crossed‌‌ 
through‌  ‌the‌  ‌minds.‌  ‌However,‌  ‌the‌  ‌concept‌  ‌of‌  ‌possession‌  ‌was‌  ‌formulated‌‌ 
before‌‌   the‌‌
  concept‌‌   of‌‌
  ownership‌‌   and‌‌ that‌‌ too‌‌ only‌‌ when‌‌ humans‌‌ started‌‌ to‌‌ 
cultivate.‌  ‌

 
Property‌‌   as‌‌ a ‌‌legal‌‌ concept‌‌ has‌‌ been‌‌ defined‌‌ by‌‌ the‌‌ Supreme‌‌ Court‌‌ of‌‌ India‌‌ 
in‌‌
  Guru‌‌   Dutt‌‌   Sharma‌‌   v/s‌‌
  State‌‌  of‌‌
  Bihar,‌‌   as‌‌
  ‘a‌‌
  sum‌‌   of‌‌  a ‌‌bundle‌‌   of‌‌
  rights‌‌ and‌‌ 
in‌‌
  case‌‌  of‌‌   tangible‌‌   property‌‌  would‌‌   include‌‌   the‌‌  right‌‌ to‌‌ possession,‌‌ the‌‌ right‌‌ 
to‌  ‌enjoy,‌  ‌the‌  ‌right‌‌
  to‌‌
  destroy,‌‌
  the‌‌
  right‌‌  to‌‌
  retain,‌‌   the‌‌  right‌‌   to‌‌
  alienate‌‌   and‌‌  so‌‌ 
on.’‌‌  And‌‌  along‌‌ the‌‌ clear‌‌ concept‌‌ of‌‌ property‌‌ comes‌‌ the‌‌ ideas‌‌ of‌‌ possession‌‌ 
and‌‌ownership.‌  ‌

Concept‌o
‌ f‌O
‌ wnership‌  ‌

With‌  ‌the‌  ‌growth‌  ‌of‌  ‌civilization,‌  ‌humans‌  ‌settling‌  ‌down‌  ‌to‌  ‌cultivate‌  ‌and‌‌ 
produce‌‌   their‌‌
  own‌‌   food‌‌  and‌‌   staying‌‌  at‌‌
  one‌‌
  place‌‌ they‌‌ began‌‌ to‌‌ develop‌‌ the‌‌ 
idea‌‌   of‌‌
  ownership‌‌   and‌‌  recognized‌‌   the‌‌
  terms‌‌  ‘mine‌‌
  and‌‌ thine’‌[1]‌. ‌‌First‌‌ came‌‌ 
the‌  ‌concept‌  ‌of‌  ‌possession‌  ‌then‌  ‌the‌  ‌concept‌  ‌of‌  ‌ownership‌  ‌evolved.‌  ‌The‌‌ 
Roman‌  ‌Law‌  ‌had‌  ‌two‌  ‌distinct‌  ‌terms‌  ‌‘possessio’‌, ‌ ‌which‌  ‌denotes‌  ‌physical‌‌ 
control‌  ‌over‌  ‌a ‌ ‌thing‌  ‌and‌  ‌‘d
‌ ominium‌’ ‌ ‌which‌  ‌denotes‌  ‌the‌  ‌absolute‌  ‌right‌  ‌to‌‌   a ‌‌
thing.‌  ‌Ownership‌  ‌as‌  ‌an‌  ‌absolute‌  ‌right‌  ‌in‌  ‌English‌  ‌Law‌  ‌evolved‌  ‌through‌  ‌the‌‌ 
developments‌  ‌in‌  ‌the‌  ‌law‌  ‌of‌  ‌possession,‌  ‌according‌  ‌to‌  ‌Holdsworth‌  ‌and‌  ‌the‌‌ 
term‌‌‘ownership’‌‌was‌‌first‌‌used‌‌in‌‌English‌‌Law‌‌in‌‌1583.‌  ‌

Definition‌  ‌
Ownership‌  ‌has‌  ‌been‌  ‌defined‌  ‌by‌  ‌many‌  ‌jurists,‌  ‌some‌  ‌opine‌  ‌it‌‌   is‌‌
  the‌‌
  relation‌‌ 
between‌  ‌a ‌ ‌person‌  ‌and‌  ‌a ‌ ‌right‌  ‌vested‌  ‌in‌  ‌him‌  ‌and‌  ‌some‌  ‌opine‌  ‌that‌  ‌it‌‌
  is‌‌
  the‌‌ 
relation‌‌between‌‌a‌‌person‌‌and‌‌the‌‌thing‌‌that‌‌is‌‌the‌‌object‌‌of‌‌the‌‌ownership.‌  ‌

Austin‌  ‌

According‌  ‌to‌  ‌him,‌‌   ‘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’.‌‌
  And‌‌ ‘a‌‌ right‌‌ indefinite‌‌ in‌‌ point‌‌ of‌‌ user,‌‌ unrestricted‌‌ in‌‌ point‌‌ 
of‌  ‌disposition‌  ‌and‌  ‌unlimited‌  ‌in‌  ‌point‌  ‌of‌  ‌duration’‌  ‌when‌  ‌it‌  ‌comes‌  ‌to‌  ‌full‌‌ 
ownership.‌  ‌

Austin’s‌‌definition‌‌of‌‌ownership‌‌has‌‌three‌‌characteristics:‌‌– ‌ ‌

1. Indefinite‌‌in‌‌point‌‌of‌‌user-‌‌it‌‌means‌‌that‌‌the‌‌owner‌‌may‌‌use‌‌the‌‌ 
property‌‌howsoever‌‌he‌‌may‌‌desire‌‌so.‌‌For‌‌example,‌‌if‌‌a‌‌person‌‌owns‌‌ 
a‌‌piece‌‌of‌‌land,‌‌he‌‌may‌‌build‌‌a‌‌house‌‌on‌‌it,‌‌use‌‌it‌‌as‌‌a‌‌garden‌‌or‌‌may‌‌ 
simply‌‌leave‌‌it‌‌as‌‌it‌‌is.‌‌But‌‌at‌‌the‌‌same‌‌time,‌‌he‌‌must‌‌not‌‌use‌‌it‌‌to‌‌ 
injure‌‌his‌‌neighbors.‌  ‌
2. Unrestricted‌‌in‌‌point‌‌of‌‌disposition-‌‌the‌‌owner‌‌has‌‌a‌‌right‌‌of‌‌transfer‌‌ 
or‌‌disposition‌‌without‌‌any‌‌restriction.‌‌However‌‌legal‌‌systems‌‌impose‌‌ 
certain‌‌restrictions‌‌on‌‌some‌‌transfer‌‌or‌‌disposition.‌ 
3. Unlimited‌‌in‌‌point‌‌of‌‌duration‌‌–‌‌the‌‌owner‌‌has‌‌the‌‌right‌‌of‌‌ownership‌‌ 
till‌‌the‌‌object‌‌is‌‌in‌‌existence‌‌and‌‌as‌‌soon‌‌as‌‌the‌‌thing‌‌is‌‌destructed‌‌ 
the‌‌right‌‌is‌‌extinguished.‌  ‌

Salmond‌  ‌

According‌  ‌to‌  ‌him,‌  ‌‘Ownership,‌  ‌in‌  ‌its‌  ‌most‌  ‌comprehensive‌  ‌significance,‌‌ 

denotes‌  ‌the‌  ‌relation‌  ‌between‌  ‌a ‌ ‌person‌  ‌and‌  ‌the‌  ‌right‌‌   that‌‌
  is‌‌
  vested‌‌
  in‌‌  him.‌‌ 
That‌  ‌which‌  ‌a ‌ ‌man‌  ‌owns‌  ‌is‌  ‌in‌  ‌all‌  ‌cases‌  ‌a ‌ ‌right.’‌  ‌Also‌  ‌he‌  ‌states‌  ‌that‌  ‌‘Every‌‌ 
right‌  ‌is‌  ‌owned,‌  ‌and‌  ‌nothing‌‌
  can‌‌   be‌‌   owned‌‌   except‌‌   a ‌‌right.‌‌
  Every‌‌
  man‌‌   is‌‌
  the‌‌ 
owner‌‌of‌‌the‌‌rights‌‌which‌‌are‌‌his.’‌  ‌

He‌  ‌also‌  ‌distinguished‌  ‌between‌  ‌corporeal‌  ‌and‌  ‌incorporeal‌  ‌ownership,‌‌ 

‘Although‌‌   the‌‌
  subject-matter‌‌   of‌‌
  ownership‌‌ in‌‌ its‌‌ widest‌‌ sense‌‌ is‌‌ in‌‌ all‌‌ cases‌‌ 
a‌  ‌right,‌  ‌there‌  ‌is‌  ‌a ‌ ‌narrow‌  ‌sense‌  ‌of‌  ‌the‌  ‌term‌  ‌in‌  ‌which‌  ‌we‌  ‌speak‌  ‌of‌  ‌the‌‌ 
ownership‌  ‌of‌  ‌material‌  ‌things.‌  ‌We‌  ‌speak‌  ‌of‌  ‌owning,‌  ‌acquiring‌  ‌or‌‌ 
transferring,‌  ‌not‌  ‌rights‌  ‌in‌  ‌land‌  ‌or‌  ‌chattels,‌  ‌but‌‌
  the‌‌
  commonest‌‌
  meaning‌‌
  of‌‌ 
the‌  ‌‘ownership’.‌  ‌We‌  ‌call‌  ‌it‌  ‌by‌  ‌the‌  ‌name‌  ‌of‌  ‌corporeal‌  ‌ownership‌  ‌to‌‌ 
distinguish‌‌
  it‌‌
  from‌‌   the‌‌
  ownership‌‌ of‌‌ rights‌‌ which‌‌ may‌‌ be‌‌ called‌‌ ‘incorporeal‌‌ 
ownership’.‌  ‌

Holland‌  ‌

He‌‌
  followed‌‌   Austin’s ‌‌view‌‌
  of‌‌
  ownership‌‌
  and‌‌
  according‌‌ to‌‌ him‌‌ an‌‌ owner‌‌ has‌‌ 
three‌‌  kinds‌‌
  of‌‌
  powers‌‌   namely;‌‌  possession,‌‌
  enjoyment‌‌  and‌‌   ownership‌‌  all‌‌ or‌‌ 
some‌‌of‌‌which‌‌can‌‌be‌‌lost‌‌by‌‌lease‌‌or‌‌mortgage.‌  ‌

Hilbert‌  ‌

According‌  ‌to‌  ‌him,‌  ‌ownership‌  ‌consists‌  ‌of‌  ‌four‌  ‌rights‌  ‌which‌  ‌are‌‌   the‌‌
  right‌‌  of‌‌ 
using‌  ‌the‌  ‌thing,‌  ‌right‌  ‌of‌  ‌excluding‌‌
  others‌‌  from‌‌   using‌‌
  it,‌‌
  right‌‌  to‌‌
  disposal‌‌   of‌‌ 
the‌  ‌thing‌  ‌and‌  ‌right‌  ‌of‌  ‌destruction‌  ‌of‌  ‌the‌  ‌thing.‌  ‌In‌  ‌this‌  ‌regard‌  ‌absolute‌‌ 
ownership‌  ‌in‌‌   land‌‌   is‌‌
  not‌‌  possible‌‌
  since‌‌
  land‌‌   is‌‌
  indestructible,‌‌   which‌‌   is‌‌
  why‌‌ 
in‌‌English‌‌Law‌‌one‌‌can‌‌have‌‌a‌‌legal‌‌interest‌‌in‌‌land.‌  ‌

Pollock‌  ‌

According‌  ‌to‌  ‌him,‌  ‌’Ownership‌  ‌may‌  ‌be‌  ‌described‌  ‌as‌  ‌the‌  ‌entirety‌  ‌of‌  ‌the‌‌ 
powers‌‌of‌‌use‌‌and‌‌disposal‌‌allowed‌‌by‌‌law.’‌  ‌

Nature‌a
‌ nd‌I‌ ncidents‌o
‌ f‌O
‌ wnership‌  ‌

On‌  ‌analyzing‌  ‌the‌  ‌concept‌  ‌of‌  ‌ownership‌  ‌one‌  ‌can‌  ‌find‌  ‌certain‌  ‌attributes‌‌ 
which‌  ‌reveal‌  ‌the‌  ‌nature‌  ‌or‌  ‌characteristics‌  ‌of‌  ‌ownership‌  ‌such‌  ‌as‌  ‌usage,‌‌ 
enjoyment,‌‌disposition‌‌etc.‌‌Nature‌‌of‌‌ownership‌‌is‌‌as‌‌follows:‌‌– ‌ ‌

1. It‌‌is‌‌indefinite‌‌in‌‌point‌‌of‌‌user‌‌i.e.,‌‌the‌‌user‌‌may‌‌use‌‌the‌‌thing‌‌owned‌‌ 
in‌‌any‌‌way‌‌he‌‌so‌‌desires‌‌and‌‌is‌‌in‌‌no‌‌obligation‌‌to‌‌not‌‌to‌‌use‌‌it.‌‌The‌‌ 
user‌‌is‌‌at‌‌liberty‌‌to‌‌use‌‌it.‌  ‌
 2. It‌‌is‌‌unrestricted‌‌at‌‌point‌‌of‌‌disposition.‌‌The‌‌owner‌‌may‌‌transfer‌‌or‌‌ 
dispose‌‌of‌‌the‌‌property‌‌by‌‌conveyance‌‌either‌‌during‌‌his‌‌lifetime‌‌or‌‌ 
even‌‌after‌‌his‌‌demise‌‌by‌‌way‌‌of‌‌will.‌  ‌
3. The‌‌owner‌‌has‌‌the‌‌right‌‌to‌‌possess‌‌the‌‌thing‌‌owned‌‌although‌‌if‌‌he‌‌ 
actually‌‌possesses‌‌it‌‌or‌‌not‌‌is‌‌immaterial,‌‌only‌‌the‌‌right‌‌o‌‌possess‌‌is‌‌ 
of‌‌material‌‌in‌‌nature.‌  ‌
4. The‌‌owner‌‌has‌‌the‌‌right‌‌to‌‌exhaust‌‌the‌‌thing‌‌owned‌‌while‌‌using‌‌it‌‌if‌‌ 
the‌‌nature‌‌of‌‌the‌‌thing‌‌is‌‌so.‌  ‌
5. It‌‌is‌‌residuary‌‌in‌‌nature.‌‌Even‌‌if‌‌some‌‌rights‌‌to‌‌a‌‌certain‌‌property‌‌may‌‌ 
be‌‌given‌‌to‌‌someone‌‌else‌‌in‌‌way‌‌of‌‌lease‌‌or‌‌rent,‌‌still‌‌the‌‌owner‌‌ 
remains‌‌to‌‌be‌‌the‌‌owner‌‌due‌‌to‌‌the‌‌residuary‌‌characteristics‌‌to‌‌it.‌  ‌
6. The‌‌owner‌‌has‌‌the‌‌right‌‌to‌‌alienate‌‌the‌‌property‌‌as‌‌well‌‌as‌‌the‌‌right‌‌to‌‌ 
destroy‌‌it.‌  ‌

Incidents‌o
‌ f‌o
‌ wnership‌  ‌

1. Right‌‌to‌‌possess‌‌–‌‌ownership‌‌entails‌‌the‌‌right‌‌to‌‌possess‌‌the‌‌thing‌‌ 
owned‌‌even‌‌if‌‌there‌‌is‌‌no‌‌actual‌‌possession‌‌of‌‌it,‌‌only‌‌the‌‌right‌‌is‌‌of‌ 
the‌‌essence.‌  ‌
2. Right‌‌to‌‌use‌‌–‌‌ownership‌‌implies‌‌that‌‌the‌‌owner‌‌can‌‌use‌‌or‌‌enjoy‌‌the‌‌ 
thing‌‌owned‌‌in‌‌any‌‌manner‌‌he‌‌thinks‌‌fit‌‌without‌‌injuring‌‌others‌‌and‌‌ 
within‌‌the‌‌limits‌‌of‌‌the‌‌law.‌  ‌
3. Right‌‌to‌‌manage‌‌–‌‌ownership‌‌contains‌‌within‌‌it‌‌the‌‌right‌‌to‌‌manage‌‌ 
the‌‌property.‌‌It‌‌means‌‌that‌‌only‌‌the‌‌owner‌‌can‌‌decide‌‌what‌‌to‌‌do‌‌with‌‌ 
it,‌‌how‌‌to‌‌do‌‌and‌‌by‌‌whom‌‌it‌‌is‌‌to‌‌be‌‌done,‌‌to‌‌transfer‌‌or‌‌to‌‌alienate‌‌or‌‌ 
to‌‌destroy.‌  ‌
4. Right‌‌to‌‌income‌‌–‌‌ownership‌‌also‌‌entails‌‌the‌‌income‌‌generated‌‌out‌‌ 
of‌‌it‌‌is‌‌owned‌‌by‌‌the‌‌owner.‌‌All‌‌benefits‌‌attached‌‌to‌‌the‌‌thing‌‌owned‌‌ 
is‌‌the‌‌right‌‌of‌‌owner.‌  ‌

Modes‌o
‌ f‌A
‌ cquisition‌o
‌ f‌O
‌ wnership‌  ‌

There‌‌   are‌‌
  two‌‌  modes‌‌
  of‌‌
  acquisition‌‌
  of‌‌  ownership‌‌   and‌‌
  they‌‌
  are‌‌ original‌‌ and‌‌ 
derivative.‌  ‌Original‌  ‌mode‌  ‌when‌  ‌things‌  ‌which‌  ‌had‌  ‌not‌  ‌been‌  ‌owned‌  ‌before‌‌ 
and‌  ‌can‌  ‌be‌  ‌acquired‌  ‌by‌  ‌possession.‌  ‌The‌  ‌things‌  ‌owned‌  ‌before‌  ‌ownership‌‌ 
over‌‌that‌‌thing‌‌is‌‌by‌‌derivative‌‌mode.‌  ‌
  ‌Original‌  ‌mode‌  ‌is‌  ‌of‌  ‌three‌  ‌types‌  ‌absolute,‌  ‌extinctive‌  ‌and‌  ‌accession.‌‌ 
Absolute‌‌   in‌‌
  case‌‌   where‌‌   it‌‌
  previously‌‌  belonged‌‌   to‌‌ no‌‌ one.‌‌ It‌‌ can‌‌ be‌‌ acquired‌‌ 
by‌  ‌either‌  ‌specification‌  ‌or‌  ‌occupation.‌  ‌In‌  ‌occupation‌  ‌an‌  ‌ownerless‌  ‌thing‌  ‌is‌‌ 
owned‌  ‌and‌‌   in‌‌
  this‌‌  the‌‌
  physical‌‌   control‌‌
  is‌‌
  essential.‌‌   For‌‌
  example,‌‌   birds,‌‌
  fish‌‌ 
etc.‌  ‌In‌  ‌specification‌  ‌the‌  ‌material‌  ‌belonging‌  ‌to‌  ‌other‌  ‌when‌‌   the‌‌
  shape‌‌   given‌‌ 
by‌‌  another.‌‌   For‌‌  example,‌‌   clay‌‌
  collected‌‌   from‌‌ someone’s ‌‌land‌‌ is‌‌ made‌‌ into‌‌ a ‌‌
sculpture‌  ‌by‌  ‌another.‌  ‌Extinctive‌  ‌when‌  ‌the‌  ‌ownership‌  ‌of‌‌   previous‌‌   person‌‌   is‌‌ 
done‌  ‌with‌  ‌by‌  ‌reason‌  ‌of‌  ‌adverse‌  ‌possession‌  ‌by‌  ‌the‌  ‌acquirer.‌  ‌Accessary‌‌ 
when‌‌acquired‌‌as‌‌an‌‌accession.‌  ‌

Kinds‌o
‌ f‌O
‌ wnership‌  ‌

Corporeal‌a
‌ nd‌I‌ ncorporeal‌O
‌ wnership‌–
‌  ‌ ‌

Corporeal‌‌ ownership‌‌ is‌‌ the‌‌ ownership‌‌ of‌‌ material‌‌ object.‌‌ It‌‌ is‌‌ the‌‌ ownership‌‌ 
of‌  ‌tangible‌  ‌things‌  ‌which‌  ‌can‌  ‌be‌  ‌perceived‌  ‌by‌  ‌the‌  ‌senses.‌  ‌For‌  ‌example,‌‌ 
ownership‌‌of‌‌house,‌‌factory,‌‌machines,‌‌etc.‌  ‌

Incorporeal‌  ‌ownership‌  ‌is‌  ‌the‌  ‌ownership‌  ‌of‌  ‌a ‌ ‌right.‌  ‌It‌  ‌is‌  ‌the‌  ‌ownership‌  ‌of‌‌ 
intangible‌‌
  things‌‌
  which‌‌
  cannot‌‌   be‌‌
  perceived‌‌  by‌‌   the‌‌
  senses.‌‌ It‌‌ also‌‌ includes‌‌ 
intellectual‌‌  property‌‌
  and‌‌
  encumbrances.‌‌   For‌‌ example,‌‌ ownership‌‌ of‌‌ shares,‌‌ 
trademark,‌‌copyright,‌‌etc.‌  ‌

Trust‌a
‌ nd‌B
‌ eneficial‌O
‌ wnership‌–
‌  ‌ ‌

Both‌  ‌ownerships‌  ‌are‌  ‌found‌‌  in‌‌

  a ‌‌trust‌‌
  involving‌‌   a ‌‌trust‌‌
  property.‌‌  In‌‌
  the‌‌
  trust‌‌ 
one‌‌
  is‌‌
  made‌‌
  a ‌‌trustee‌‌
  and‌‌
  given‌‌   property‌‌  to‌‌ hold‌‌ and‌‌ use‌‌ such‌‌ property‌‌ for‌‌ 
the‌‌benefits‌‌of‌‌the‌‌beneficiary.‌  ‌

The‌  ‌ownership‌  ‌of‌  ‌the‌  ‌trustee‌  ‌is‌  ‌trust‌  ‌ownership.‌  ‌This‌  ‌is‌  ‌a ‌ ‌nominal‌‌ 
ownership‌  ‌and‌  ‌is‌  ‌not‌  ‌real‌  ‌as‌  ‌it‌  ‌is‌  ‌only‌  ‌for‌  ‌the‌‌  benefit‌‌   of‌‌
  the‌‌  beneficiary.‌‌   In‌‌ 
the‌‌  eyes‌‌   of‌‌
  law,‌‌
  the‌‌
  trustee‌‌   is‌‌  the‌‌  representative‌‌   of‌‌
  the‌‌
  beneficiary‌‌   and‌‌ has‌‌ 
no‌‌
  right‌‌   of‌‌
  enjoyment‌‌   of‌‌
  the‌‌   trust‌‌   property.‌‌   This‌‌
  ownership‌‌   is‌‌
  only‌‌ a ‌‌matter‌‌ 
of‌‌
  form‌‌   and‌‌   not‌‌
  of‌‌
  substance‌‌   as‌‌
  the‌‌ property‌‌ is‌‌ given‌‌ fictitiously‌‌ by‌‌ the‌‌ law‌‌ 
and‌‌   is‌‌
  only‌‌   deemed‌‌   to‌‌  be‌‌  the‌‌   owner‌‌ of‌‌ the‌‌ property‌‌ due‌‌ to‌‌ the‌‌ fiction‌‌ of‌‌ the‌‌ 
law.‌  ‌
The‌  ‌ownership‌  ‌of‌  ‌the‌  ‌beneficiary‌  ‌is‌  ‌the‌  ‌beneficial‌  ‌ownership.‌  ‌Although‌  ‌in‌‌ 
the‌‌ eyes‌‌ of‌‌ law‌‌ trustee‌‌ is‌‌ the‌‌ owner‌‌ but‌‌ between‌‌ the‌‌ trustee‌‌ and‌‌ beneficiary‌‌ 
the‌‌latter‌‌is‌‌the‌‌owner‌‌of‌‌the‌‌trust‌‌property.‌  ‌

For‌‌ example,‌‌ a ‌‌property‌‌ is‌‌ given‌‌ to‌‌ A ‌‌on‌‌ trust‌‌ for‌‌ B ‌‌then‌‌ A ‌‌is‌‌ trustee‌‌ and‌‌ B ‌‌is‌‌ 
beneficiary.‌‌  A ‌‌has‌‌   trust‌‌ ownership,‌‌ the‌‌ legal‌‌ owner‌‌ in‌‌ the‌‌ eyes‌‌ of‌‌ law‌‌ who‌‌ is‌‌ 
obligated‌  ‌to‌  ‌use‌  ‌the‌  ‌trust‌  ‌property‌  ‌for‌  ‌the‌  ‌benefit‌  ‌of‌  ‌B ‌ ‌who‌‌
  has‌‌
  beneficial‌‌ 
ownership.‌  ‌

Legal‌a
‌ nd‌E
‌ quitable‌O
‌ wnership‌–
‌ ‌  ‌

Legal‌‌  ownership‌‌   has‌‌

  its‌‌
  origin‌‌
  in‌‌
  the‌‌
  rules‌‌
  of‌‌ common‌‌ law.‌‌ This‌‌ is‌‌ a ‌‌right‌‌ ‌in‌‌ 
rem‌‌‌as‌‌it‌‌can‌‌be‌‌enforced‌‌against‌‌the‌‌whole‌‌world.‌  ‌

Equitable‌‌   ownership‌‌
  has‌‌   its‌‌
  origin‌‌  in‌‌
  the‌‌ laws‌‌ of‌‌ equity.‌‌ This‌‌ ownership‌‌ is‌‌ a ‌‌
right‌  ‌in‌  ‌personam‌  ‌as‌  ‌it‌  ‌can‌  ‌be‌  ‌enforced‌  ‌against‌  ‌a ‌ ‌particular‌  ‌person‌. ‌ ‌This‌‌ 
ownership‌‌is‌‌recognized‌‌even‌‌when‌‌there‌‌is‌‌a‌‌legal‌‌defect.‌  ‌

For‌  ‌example,‌  ‌A ‌ ‌sells‌  ‌his‌  ‌shares‌  ‌to‌  ‌B ‌ ‌but‌  ‌a ‌ ‌transfer‌  ‌deed‌‌
  is‌‌
  not‌‌
  made.‌‌
  The‌‌ 
company‌  ‌refuses‌  ‌to‌  ‌acknowledge‌  ‌B ‌ ‌as‌  ‌the‌  ‌owner‌  ‌and‌  ‌law‌  ‌gives‌  ‌no‌‌   relief.‌‌ 
Rule‌‌   of‌‌
  equity‌‌
  helps‌‌  here‌‌   as‌‌
  A ‌‌is‌‌ the‌‌ legal‌‌ owner‌‌ but‌‌ he‌‌ holds‌‌ the‌‌ shares‌‌ as‌‌ 
a‌‌trustee‌‌of‌‌B.‌‌B‌‌here‌‌is‌‌the‌‌equitable‌‌owner.‌  ‌

Vested‌a
‌ nd‌C
‌ ontingent‌O
‌ wnership‌–
‌  ‌ ‌

Vested‌‌   ownership‌‌   means‌‌   where‌‌   the‌‌  title‌‌

  of‌‌
  the‌‌
  owner‌‌   is‌‌
  already‌‌  perfect.‌‌  In‌‌ 
this‌  ‌the‌  ‌ownership‌  ‌is‌  ‌absolute.‌  ‌For‌  ‌example,‌  ‌in‌  ‌a ‌ ‌gift‌  ‌deed‌  ‌a ‌ ‌donee‌  ‌(to‌‌ 
whom‌  ‌the‌‌   gift‌‌
  is‌‌
  gifted)‌‌   cannot‌‌   take‌‌   possession‌‌   of‌‌
  the‌‌  gift‌‌
  property‌‌  but‌‌
  he‌‌ 
has‌  ‌vested‌  ‌interest‌  ‌till‌  ‌the‌‌   death‌‌   of‌‌
  the‌‌  donor‌‌   and‌‌   his‌‌
  wife.‌‌   The‌‌
  donee‌‌   can‌‌ 
although‌‌transfer‌‌the‌‌said‌‌property‌‌after‌‌the‌‌death‌‌of‌‌the‌‌donor.‌  ‌

Contingent‌  ‌ownership‌  ‌implies‌  ‌that‌  ‌the‌  ‌ownership‌  ‌is‌  ‌not‌  ‌absolute‌  ‌but‌‌ 
conditional.‌‌   The‌‌
  ownership‌‌   is‌‌
  imperfect‌‌ and‌‌ becomes‌‌ absolute‌‌ and‌‌ perfect‌‌ 
only‌‌  on‌‌  fulfillment‌‌   of‌‌
  some‌‌   condition.‌‌  For‌‌
  example,‌‌ A ‌‌leaves‌‌ his‌‌ property‌‌ to‌‌ 
B‌‌
  and‌‌   on‌‌  B’s ‌‌death‌‌  to‌‌
  C.‌‌
  The‌‌  ownership‌‌   of‌‌
  C ‌‌is‌‌ contingent‌‌ ownership‌‌ as‌‌ he‌‌ 
will‌‌get‌‌the‌‌property‌‌only‌‌after‌‌the‌‌death‌‌of‌‌B.‌  ‌
Sole‌O
‌ wnership‌a
‌ nd‌C
‌ o-ownership‌–
‌  ‌ ‌

Sole‌  ‌ownership‌  ‌is‌  ‌when‌  ‌only‌  ‌one‌  ‌person‌‌   has‌‌

  the‌‌
  whole‌‌
  and‌‌
  sole‌‌
  right‌‌
  in‌‌
  a ‌‌
property‌‌  and‌‌
  no‌‌
  one‌‌   else‌‌
  can‌‌
  claim‌‌   any‌‌
  right‌‌
  whatsoever‌‌   over‌‌
  the‌‌
  property‌‌ 
in‌‌question.‌  ‌

Co-ownership‌  ‌is‌  ‌when‌  ‌more‌  ‌than‌  ‌one‌  ‌person‌  ‌has‌  ‌a ‌ ‌right‌  ‌that‌  ‌is‌  ‌the‌‌ 
undivided‌  ‌and‌  ‌vested‌  ‌in‌  ‌all‌  ‌of‌  ‌them‌  ‌at‌  ‌the‌  ‌same‌  ‌time.‌  ‌The‌  ‌parties‌  ‌do‌  ‌not‌‌ 
separately‌‌own‌‌a‌‌part‌‌but‌‌co-owners‌‌of‌‌the‌‌same‌‌property.‌  ‌

Co-ownership‌a
‌ nd‌J
‌ oint‌O
‌ wnership‌–
‌  ‌ ‌
Co-ownership‌  ‌the‌  ‌property‌  ‌in‌  ‌question‌  ‌is‌  ‌commonly‌  ‌owned‌  ‌by‌  ‌both‌  ‌the‌‌ 
parties‌‌   and‌‌  on‌‌
  demise‌‌ of‌‌ one‌‌ party‌‌ the‌‌ heirs‌‌ of‌‌ that‌‌ party‌‌ would‌‌ inherit‌‌ part‌‌ 
of‌  ‌it.‌  ‌For‌  ‌example,‌  ‌A ‌ ‌and‌  ‌B ‌ ‌are‌  ‌in‌  ‌a ‌ ‌co-ownership.‌‌
  On‌‌
  death‌‌
  of‌‌
  A,‌‌
  A’s ‌‌heirs‌‌ 
will‌‌get‌‌half‌‌of‌‌the‌‌property.‌  ‌

Joint‌  ‌ownership‌  ‌is‌  ‌when‌  ‌a ‌ ‌property‌  ‌is‌  ‌jointly‌  ‌owned‌  ‌by‌‌
  parties‌‌   and‌‌   on‌‌
  the‌‌ 
death‌‌ of‌‌ one‌‌ party‌‌ the‌‌ ownership‌‌ dies‌‌ with‌‌ him‌‌ and‌‌ cannot‌‌ be‌‌ inherited.‌‌ For‌‌ 
example,‌‌   A ‌‌and‌‌
  B ‌‌are‌‌
  joint‌‌
  owners‌‌
  of‌‌   a ‌‌property.‌‌   On‌‌ death‌‌ of‌‌ A,‌‌ B ‌‌becomes‌‌ 
the‌‌sole‌‌owner‌‌of‌‌the‌‌said‌‌property.‌  ‌

Absolute‌a
‌ nd‌L
‌ imited‌O
‌ wnership‌–
‌  ‌ ‌

Absolute‌‌   ownership‌‌ means‌‌ that‌‌ except‌‌ the‌‌ owner‌‌ in‌‌ whom‌‌ all‌‌ the‌‌ rights‌‌ are‌‌ 
vested‌‌ there‌‌ are‌‌ no‌‌ other‌‌ person‌‌ who‌‌ can‌‌ claim‌‌ any‌‌ right‌‌ over‌‌ that‌‌ property.‌‌ 
But‌  ‌there‌  ‌may‌  ‌be‌  ‌legal‌  ‌or‌  ‌contractual‌  ‌restrictions‌  ‌upon‌  ‌the‌  ‌usage‌  ‌of‌  ‌the‌‌ 
said‌‌property.‌  ‌

Limited‌  ‌ownership‌  ‌means‌  ‌in‌  ‌the‌  ‌ownership‌  ‌there‌  ‌are‌  ‌limitations‌  ‌on‌  ‌the‌‌ 
rights‌  ‌of‌  ‌usage,‌  ‌duration‌  ‌or‌  ‌disposal‌  ‌of‌  ‌the‌  ‌property.‌  ‌For‌  ‌example,‌  ‌before‌‌ 
1956‌‌  a ‌‌Hindu‌‌  woman‌‌   had‌‌
  only‌‌   limited‌‌
  ownership‌‌   over‌‌
  a ‌‌property‌‌
  and‌‌   after‌‌ 
her‌‌demise‌‌the‌‌property‌‌would‌‌be‌‌inherited‌‌by‌‌the‌‌heirs‌‌of‌‌the‌‌last‌‌holder.‌  ‌

Role‌o
‌ f‌O
‌ wnership‌i‌n‌M
‌ odern‌T
‌ imes‌  ‌
Ownership‌  ‌as‌  ‌a ‌ ‌concept‌  ‌has‌  ‌evolved‌  ‌since‌  ‌long‌  ‌and‌  ‌has‌  ‌developed‌  ‌as‌  ‌a ‌‌
sign‌  ‌of‌  ‌power,‌  ‌wealth‌  ‌and‌  ‌social‌  ‌standing.‌  ‌Individual‌  ‌ownership‌  ‌is‌  ‌a ‌‌more‌‌ 
recent‌‌   idea‌‌
  and‌‌   ownership‌‌   within‌‌  the‌‌
  community‌‌   was‌‌   a ‌‌concept‌‌ during‌‌ the‌‌ 
initial‌  ‌stages‌  ‌of‌  ‌society‌  ‌formation.‌  ‌In‌  ‌his‌  ‌book‌  ‌Physics‌  ‌and‌  ‌Politics,‌  ‌Mr.‌‌ 
Bagehot‌  ‌had‌  ‌brought‌  ‌out‌  ‌that‌  ‌in‌  ‌order‌  ‌to‌  ‌bind‌  ‌the‌  ‌society‌  ‌in‌  ‌its‌  ‌forming‌‌ 
stages‌  ‌‘everything‌  ‌which‌  ‌tended‌  ‌to‌  ‌individualism‌  ‌would‌  ‌naturally‌  ‌be‌‌ 
discouraged‌‌by‌‌the‌‌tribal‌‌feeling‌‌of‌‌self-preservation.’‌[2]‌  ‌

Ownership‌  ‌was‌  ‌only‌  ‌for‌  ‌the‌  ‌monarchs‌  ‌and‌  ‌in‌  ‌some‌  ‌instances‌  ‌for‌  ‌the‌‌ 
church,‌‌   apart‌‌
  from‌‌   them‌‌ no‌‌ one‌‌ had‌‌ any‌‌ right‌‌ over‌‌ any‌‌ property.‌‌ Concept‌‌ of‌‌ 
private‌  ‌property‌  ‌came‌  ‌into‌  ‌existence‌  ‌only‌  ‌after‌  ‌feudalism‌  ‌was‌  ‌done‌  ‌with‌‌ 
and‌  ‌dissolved‌  ‌and‌  ‌the‌  ‌military‌  ‌heads‌‌  had‌‌  absolute‌‌   power‌‌
  over‌‌
  his‌‌
  domain‌‌ 
which‌  ‌gave‌  ‌way‌  ‌to‌  ‌modern‌  ‌private‌  ‌ownership.‌  ‌Feudal‌  ‌lords‌  ‌held‌  ‌land‌  ‌and‌‌ 
other‌  ‌properties‌  ‌and‌  ‌labours‌  ‌were‌  ‌the‌  ‌ones‌  ‌who‌  ‌although‌  ‌worked‌  ‌on‌  ‌the‌‌ 
said‌‌land‌‌but‌‌had‌‌no‌‌rights‌‌in‌‌it‌‌whatsoever.‌ 

Later‌‌
  with‌‌   the‌‌
  advent‌‌   of‌‌
  machines‌‌   and‌‌  the‌‌ industrial‌‌ revolution‌‌ came‌‌ in‌‌ the‌‌ 
rights‌  ‌of‌  ‌the‌  ‌labours‌  ‌and‌  ‌they‌  ‌now‌  ‌had‌  ‌equal‌  ‌rights‌  ‌to‌  ‌negotiate‌  ‌with‌  ‌the‌‌ 
owners‌  ‌of‌  ‌the‌  ‌property.‌  ‌In‌  ‌this‌  ‌era‌  ‌the‌  ‌owner‌  ‌was‌  ‌not‌  ‌the‌  ‌only‌  ‌one‌  ‌with‌‌ 
power,‌  ‌wealth‌  ‌or‌  ‌social‌‌   standing.‌‌   New‌‌   legislations‌‌   in‌‌
  industries‌‌  and‌‌  labour‌‌ 
sector‌‌   forced‌‌ the‌‌ industrialists‌‌ to‌‌ share‌‌ their‌‌ profits‌‌ with‌‌ not‌‌ only‌‌ the‌‌ labour‌‌ 
force‌  ‌but‌  ‌also‌  ‌to‌  ‌be‌  ‌paid‌  ‌as‌  ‌taxes‌  ‌and‌  ‌in‌  ‌more‌  ‌recent‌  ‌time‌  ‌as‌  ‌corporate‌‌ 
social‌‌responsibility.‌  ‌

In‌  ‌the‌  ‌current‌  ‌times‌  ‌ownership‌  ‌is‌  ‌neither‌  ‌absolutely‌  ‌with‌  ‌the‌  ‌government‌‌ 
nor‌‌   the‌‌
  power‌‌
  the‌‌ ownership‌‌ provides‌‌ is‌‌ with‌‌ the‌‌ industries.‌‌ The‌‌ labour‌‌ and‌‌ 
industrial‌  ‌laws‌  ‌enacted‌  ‌has‌  ‌impacted‌  ‌the‌  ‌social‌  ‌and‌‌  economic‌‌   conditions‌‌ 
of‌  ‌the‌  ‌nation‌  ‌as‌  ‌a ‌ ‌whole.‌  ‌Ownership‌  ‌now‌  ‌distributes‌  ‌power,‌  ‌wealth‌  ‌and‌‌ 
status‌‌among‌‌all.‌  ‌

Conclusion‌  ‌

Ownership‌  ‌in‌  ‌its‌  ‌nature‌  ‌is‌  ‌residual‌  ‌and‌  ‌can‌  ‌be‌  ‌said‌  ‌to‌  ‌have‌  ‌a ‌ ‌bundle‌  ‌of‌‌ 
rights‌  ‌attached‌  ‌to‌  ‌it,‌  ‌but‌  ‌at‌  ‌the‌  ‌same‌  ‌time‌  ‌it‌  ‌also‌  ‌denotes‌  ‌the‌  ‌relation‌‌ 
between‌‌   a ‌‌person‌‌   and‌‌ the‌‌ thing‌‌ to‌‌ be‌‌ owned.‌‌ That‌‌ throughout‌‌ the‌‌ years‌‌ the‌‌ 
concept‌  ‌of‌  ‌ownership‌  ‌and‌  ‌possession‌  ‌has‌  ‌evolved‌  ‌and‌  ‌has‌  ‌been‌‌ 
embedded‌‌   in‌‌
  the‌‌
  minds‌‌   of‌‌
  human‌‌   that‌‌
  may‌‌
  or‌‌
  may‌‌   not‌‌  be‌‌
  in‌‌ a ‌‌legal‌‌ sense.‌‌ 
It‌  ‌has‌  ‌impacted‌  ‌society‌  ‌and‌  ‌even‌  ‌society‌  ‌has‌  ‌impacted‌  ‌its‌  ‌definition,‌‌ 
meaning,‌  ‌scope‌  ‌and‌  ‌understanding.‌  ‌Ownership‌  ‌may‌‌   mean‌‌  different‌‌   things‌‌ 
to‌‌  different‌‌
  people‌‌
  but‌‌
  what‌‌
  does‌‌  not‌‌
  change‌‌ is‌‌ the‌‌ fact‌‌ that‌‌ along‌‌ with‌‌ the‌‌ 
rights‌  ‌attached‌  ‌comes‌  ‌liability,‌  ‌obligations,‌  ‌duties‌  ‌toward‌  ‌others‌  ‌and‌‌ 
society‌‌in‌‌general.‌  ‌