What is Difference Between Ownership and Possession ?

by admin Property Possession, the luxia

Ownership and possession are related but distinct concepts when it comes to property or belongings:

Ownership:

    • Legal Rights: Ownership refers to the legal right to control and use a property or object. It involves having the title or the rights that allow you to claim something as your own.
    • Control and Decision-making: As an owner, you have the authority to make decisions about the use, transfer, or disposal of the property.
    • Permanent Right: Ownership can be indefinite and enduring unless it’s transferred or legally revoked.

Possession:

    • Physical Control: Possession involves having physical custody or control over a property or object. It’s the actual holding, use, or occupancy of something.
    • Not Necessarily Ownership: Possession doesn’t always imply ownership. Someone might possess something without actually owning it due to rental agreements, borrowing, or other arrangements.
    • Temporary Nature: Possession can be temporary and may not grant long-term control or legal rights over the property.

In essence, ownership signifies legal rights and control, whereas possession refers to physical custody or control over an object or property, which might or might not align with legal ownership.

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