Owners

An owner is a person or entity that holds legal title to an asset and has the authority to use, control, exclude others from using, and transfer the asset, subject to applicable laws, contracts, and rights of others. Ownership is a legal relationship between the owner and the asset, and it can be direct or mediated through an organization, trust, or other structure. Ownership does not imply unlimited power; it is constrained by duties and limits imposed by law and contract.

Common forms of ownership include sole ownership, where a single person or entity holds the asset; co-ownership, which can take the form of joint tenancy, tenancy in common, or community property; and corporate or institutional ownership, in which ownership rights are held by a group through shares or membership. Some assets are publicly owned by the state or a public body. Ownership also applies to intangible assets such as copyrights, software, or patents.

Rights conferred by ownership typically include use, possession, control, the right to transfer or mortgage the asset, and to exclude others from the asset. Owners may owe duties, such as maintenance, payment of taxes, and compliance with laws and regulations. Beneficial owners may retain rights even when legal title is held by another party, as in trusts or nominee arrangements.

Transfer of ownership usually occurs through sale, gift, inheritance, or donation, and may require regulatory or contractual approvals. Loss or disruption of ownership can happen through destruction, expropriation, foreclosure, or disputes over title. In some contexts, different legal concepts, such as ownership versus custody or possession, clarify who has control at a given time.