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Law 06 Ownership and Possession
Law 06 Ownership and Possession
Ownership:
Definition:
The legal right to control and enjoy an object or property, including the
right to use, possess, modify, dispose of, and exclude others from using
it.
Characteristics:
1. Exclusive: Only the owner has the full legal right to the object.
2. Permanent: Ownership generally lasts indefinitely or until
intentionally transferred.
3. Tangible & Intangible: Applies to both physical objects like land
and cars and intangible property like intellectual property.
4. Bundle of rights: Includes various rights like possession, use,
income, and alienation (to sell, gift, etc.).
Possession:
Definition:
The physical control or occupation of an object, regardless of legal
ownership.
Characteristics:
1. Physical control: Requires actually having the object in one's
control or custody.
2. Temporary: Possession can be temporary, like borrowing a book,
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or ongoing.
3. No ownership claim: Possession alone doesn't necessarily confer
ownership.
4. Right to possessory action: Possessors have the right to recover
the object from anyone who wrongfully takes it.
Example of Car:
The owner has the complete legal right to do anything with the car, drive it, rent it out,
sell it, etc. They are like the CEO of the car. On the other hand, someone borrowing the
car with the owner's permission has physical control over it but can't make decisions like
selling it. They are like the temporary manager of the car.
Table Summary
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of query Don’t hesitate to contact. Faisal 0300-9290789
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