RoaldDahl
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LSDefine
Simple English definitions for legal terms
complete ownership
Read a random definition: contingency beneficiary
A quick definition of complete ownership:
Complete ownership refers to the bundle of rights that allow a person to use, manage, and enjoy property, including the right to transfer it to others. It means having the legal recognition of one's claim to a thing, and the ability to possess it regardless of any actual or constructive control. Ownership rights are general, permanent, and heritable. However, ownership does not always mean absolute dominion, as the more an owner opens up their property for use by the public, the more their rights become circumscribed by the statutory and constitutional powers of those who use it.
A more thorough explanation:
Complete ownership is when someone has all the rights to use, manage, and enjoy a property. This includes the right to sell or give it to someone else. Ownership is different from possession, which means having control over something without necessarily owning it.
- John owns a house. He can live in it, rent it out, or sell it to someone else.
- Martha owns a car. She can drive it, sell it, or give it to someone else.
These examples illustrate complete ownership because John and Martha have all the rights to use, manage, and enjoy their properties. They can also transfer ownership to someone else if they choose to do so.