Ownership is a fundamental notion in law and has a significant impact on property. Ownership is a person’s fundamental entitlement to his or her possessions. It is the total value a person owns in terms of his or her property. The concept of ownership is derived from the concept of possession, which was the sole concept understood in ancient times. The concept of ownership was only developed when they started performing activities such as farming , building houses etc. The rights a person holds against ownership are right in rem i.e they can be enforced against the whole world and not just any specific person.

The owner has the right to possess the thing he owns and also has the liberty to use it. Other people who are not the owners of the property have no right to interfere with the owner’s enjoyment of land. Not only this the owner is also entitled with the power to dispose off the property according to his own will. A person should be entitled with ownership to perform the act of transfer just a mere possession does not entitle such right. A owner has the right to destroy , exhaust , alienate the things he owns of such nature and he is not bounded by any questions. Material objects are one of the subjects of ownership, but Salmond believed that rights, in addition to materialistic objects, are also subject to ownership. but however this views has been criticized with the view that law generally recognizes ownership of land and chattel and not of any right hence a person is said to have rights not own them.

In general, ownership can be acquired in two ways: first, ownership can be acquired over a thing that has no owner, such things are known as “res nullius,” and ownership can be acquired by possession; second, there are certain things that have an owner, and thus ownership can be acquired using a derivative method, such as purchase, gift, or inheritance. There are generally three modes of acquiring ownership which are absolute , extinctive and accessory, The ownership is absolute when the object acquired has no previous owner , absolute ownership can be acquired either by occupation or specification. When a person by some act terminated the ownership of the previous owner and acquires the ownership himself it is extinctive ownership. Accessory acquisition is when the ownership of a property is acquired by some accession to the existing property .

There are two types of ownerships to begin with: corporeal and incorporeal ownerships. Corporeal ownership refers to the ownership of materialistic items, whereas incorporeal ownership refers to the ownership of immaterial items such as rights, patents, and trademarks. Following that is solo and co ownership. In certain cases, a right can be gained by only one person, which is referred to as sole ownership, and in other cases, rights can be acquired by two or more persons, which is referred to as co ownership.

Other types of ownerships include trust and beneficial ownership , legal and equitable ownership and so on

To sum up, ownership as a right encompasses powers, claims, and so on. It is always a physical or incorporeal thing that can be acquired through ownership. Any right linked to ownership is regulated by the state. The owner is the only person who has all of the rights to the things.

Aishwarya Says:

I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.

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