own·er·ship n: the state, relation, or fact of being an owner; also: the rights or interests of an owner
reduced their ownership 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
◇ 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
◇ Ownership in indivision is ended by a partition of the property.
qualified ownership: ownership that is limited by time, the interest of another party, or restrictions on the use of the property
had only qualified ownership of the fish and game on his property due to state restrictions

Merriam-Webster’s Dictionary of Law. . 1996.

I noun claim, control, dominion, dominium, holding, mastery, occupancy, possessorship, proprietary, proprietorship, right of possession, seisin, tenancy, tenure, title, use associated concepts: absolute ownership, apparent ownership, certificate of ownership, change of ownership, exclusive ownership, incident of ownership, individual ownership, joint ownership, occupation, ownership rights, possession, proprietary interest, qualified ownership, silent partner, sole ownership, sole proprietor, tenancy by the entirety, transfer of ownership, unconditional ownership, undisclosed interest, unqualified ownership II index adverse possession, claim (right), dominion (absolute ownership), enjoyment (use), occupancy, occupation (possession), property (possessions), right (entitlement), seisin, stake (interest), substance (material possessions), tenancy, title (right)

Burton's Legal Thesaurus. . 2006

The state of owning property, with a right to possess, use, and dispose of it.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

the full and complete right of dominion over property. It has been said that ownership is either so simple as to need no explanation or so elusive as to defy definition. At its most extreme and absolute, it means the power to enjoy and dispose of things absolutely. In almost every society the power is limited by the general law. Because it is possible under many legal systems for an owner to grant rights over a property, it may be that the owner will be unable to use his property – the owner of a car sold on hire-purchase never drives it, indeed, may never even have seen it. Thus, ownership is often considered to be the ultimate residual right that remains after all other rights over a thing have been extinguished.
In Roman law and in civilian systems, the owner of property is usually able to recover his own property by an action called a vindicatio. For practical reasons, civilian systems usually adopt a presumption of ownership from possession and, indeed, such appears in the French and German civil codes and is a rule of law in Scotland: Prag-nell-O'Neill v. Lady Skiffington 1984 SLT 282. In English law, possession itself is protected. See conversion.
Ownership is said to be original, where the owner has brought the property into human control for the first time, as by occupying land or capturing a wild animal, or derivative, where the owner acquires from the previous owner as in a sale.
So far as the most common transaction – sale – is concerned, the law is set out by the Sale of Goods Act 1979. The English approach to ownership is adopted in the UK whereby the Act sets out who has property in the goods or who gets a good title to the goods – both concepts being practically equivalent to ownership.
Theoretically, ownership of land in England and Wales is vested in the Crown; the concept of ownership by individuals and companies is expressed through the doctrine of estates. Only two legal estates may exist since 1925, namely the fee simple absolute in possession (freehold), which is akin to absolute ownership, and the term of years absolute (leasehold), which confers ownership or possession rights for a temporary period.
In Scotland too, with a few exceptions, land is held feudally under the Crown.

Collins dictionary of law. . 2001.

Having the legal right to use, possess, and give away property. (See also: joint ownership, conditional ownership)
Category: Real Estate & Rental Property
Category: Wills, Trusts & Estates

Nolo’s Plain-English Law Dictionary. . 2009.

n. The total body of rights to use and enjoy a property, to pass it on to someone else as an inheritance, or to convey it by sale. Ownership implies the right to possess property, regardless of whether or not the owner personally makes constructive use of it.

Webster's New World Law Dictionary. . 2000.

   legal title coupled with exclusive legal right to possession. Co-ownership, however, means that more than one person has a legal interest in the same thing.
   See also: own

Law dictionary. . 2013.

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  • Ownership — Own er*ship, n. The state of being an owner; the right to own; exclusive right of possession; legal or just claim or title; proprietorship. [1913 Webster] …   The Collaborative International Dictionary of English

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