Define ownership. What are various elements of ownership

Define ownership. What are various elements of ownership

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elements-ownership

Q.8. Define ownership. What are various elements of ownership? 

Ans. Meaning.—The conception of ownership like that of possession is one of the fundamental juristic conceptions common to all systems of law. It implies, like possession, a certain peculiar kind of relation between persons and things which are the objects of ownership.

Ownership—Defined.–There are two views about ownership : The first is that of Austin and the second is that of Salmond

According to the first view ownership is a relation which subsists between a person and a thing which is the object of ownership. The second view is that ownership is a relation between a person and any right that is vested in him.

Ownership, according to Holland, is ‘a plenary control over an object.’

Hohfel, however, would like to speak of ownership not as right but as collection of rights, privileges and powers some of which are frequently found to reside either for a limited period perpetually in persons other than the owner.

Elements of ownership.—There are three elements of .ownership.

They are :—

(1) the power of possessing a thing (possidendi).

(2) the power of using a thing (utendi), and

(3) the power of disposing of a thing (dispondendi).