Ownership - Law Dictionary Search Results
Home Dictionary Name: ownershipownership
ownership : the state, relation, or fact of being an owner ;also : the rights or interests of an owner [reduced their by one third] absolute ownership : ownership esp. by a single person that is free of any encumbrances or limitations other than statutory law compare fee simple absolute at fee simple os·ten·si·ble ownership [Ä -sten-sə-bəl] : ownership that is apparent rather than actual and that sometimes is recognized in cases of purchase of the property by an innocent third party [a dispute arising from the dealer's ostensible ownership and sale of the collateral] NOTE: A purchaser from a person with ostensible ownership of property may be able to defeat the claim to the property of the actual owner who created the ostensible ownership. ownership in in·di·vi·sion in the civil law of Louisiana : ownership by two or more persons each having undivided shares in the property as a whole compare community property at property NOTE: Own...
Ownership
Ownership, does not always mean absolute dominion. The more an owner, for his advantage, opens up his property for use by the public in general, the more do his rights become circumscribed by the statutory and constitutional powers of those who use it, Marsh v. Alabama, 326 US 501, 506: 66 S Ct 276, 278 (1946) (Black, J.).Means the collection of rights following one to use and enjoy property. Including the right to convey it to possess a thing, regardless of any actual or constructive control. Ownership rights are general, permanent and inheritable, Black's Law Dictionary, 7th Edn., p. 1131.Means to possess, to have or hold as property, State of Uttar Pradesh v. Renusagar Power Co., (1998) 4 SCC 59: AIR 1988 SC 1737.The ownership has been defined as 'collection of rights to use and enjoy property, including right to transmit it to others. Ownership is de jure recognition of a claim to certain property. Possession is the objective realisation ownership. It is the de facto exercise of a ...
Co-ownership and partnership
Co-ownership and partnership, the main differ-ences between co-ownership and co-partnership is that co-ownership is not necessarily the result of agreement, whereas partnership is. The second difference is that co-ownership does not necessarily involve community of profit or of loss, but partnership does. A third difference is that one co-owner can without the consent of the other, transfer his interest etc., to a stranger. A partner cannot do this, Champaran Care Concern v. State of Bihar, AIR 1963 SC 1737 (1741). (Partnership Act, 1932, s. 4)...
Limited ownership
Limited ownership, limited ownership in the concerned Hindu female is thus a sine qua non for the applicability of sub-section (1) of s. 14 of the Act (Hindu Succession Act) but then this condition was fully satisfied in the case of Tulasamma to whom the property was made over in lieu of maintenance with full rights of enjoyment thereof minus the power of alienation. These are precisely the incidents of limited ownership, Bai Vajia v. Thakorbhai Chelabhai, AIR 1979 SC 993 (956): (1979) 3 SCC 300: (1979) 3 SCR 291. [Hindu Sucession Act (3 of 1956), s. 14(1) (2)]...
Transfer of ownership
Transfer of ownership, 'transfer of ownership' is also a term of wide import and it comprises every mode by which ownership may be transferred from one person to another - The mode of transfer may vary from one kind of property to another; it would depend on the nature of the property to be transferred, Madan Mohan Pathak v. Union of India, AIR 1978 SC 803: (1978) 2 SCC 50: (1978) 3 SCR 334....
absolute ownership
absolute ownership see ownership ...
ostensible ownership
ostensible ownership see ownership ...
ownership in indivision
ownership in indivision see ownership ...
qualified ownership
qualified ownership see ownership ...
transfer of ownership
transfer of ownership any means by which ownership of a property changes hands. These include purchase of a property, assumption of mortgage debt, exchange of possession of a property via a land sales contract or any other land trust device. Source: U.S. Department of Housing and Urban Development ...
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