Owner

An owner is a person or legal entity that holds legal title to property and possesses the rights to use, transfer, or exclude others from the property, subject to applicable laws and contracts. Ownership is typically evidenced by documents such as a deed, title, certificate of registration, or other official record.

Ownership can take several forms. Sole ownership means a single person or entity holds the rights. Joint ownership includes arrangements such as joint tenancy or tenancy in common, where two or more owners share interests, potentially with rights of survivorship or specified share percentages. Corporate ownership involves a company or organization as the owner of assets, while beneficial ownership refers to the party that ultimately enjoys the benefits of ownership even when title is in another name.

Rights and responsibilities accompany ownership. Owners generally have the right to use, enjoy, transfer, lease, or mortgage the property and to exclude others from it. They also bear responsibilities such as maintenance, payment of taxes or fees, compliance with applicable laws and regulations, and bearing the risk of loss or damage to the property.

Acquisition and transfer of ownership follow legal procedures. Ownership can be obtained by purchase, inheritance, gift, or creation, and transfer typically requires a valid title or deed and, in many jurisdictions, recording with a public registry. Title searches and due diligence are common steps to confirm clear ownership and identify liens or encumbrances.

Ownership may be limited by liens, easements, covenants, or zoning restrictions, and may be subject to government powers such as eminent domain. In fiduciary contexts, owners may owe duties to beneficiaries or others, such as trustees in trust arrangements. Ownership concepts intersect with property, contract, and intellectual property law, depending on the asset involved.