Highlight three differences between possession and ownership
Ownership vs Possession
Ownership | Possession |
Ownership involves the absolute rights and legitimate claim to an object. It means to own the object by the owner. | Possession is more the physical control of an object. The possessor has a better claim to the title of the object than anyone, except the owner himself. |
Ownership is the right of the owner against the world indefinite in point of the user, unrestricted in point of disposition or destroying and unlimited in point of duration over a thing | As per the definitions, it is the continuous exercise of a claim to exclusively possess and use the object/thing. |
Ownership itself gives the owner the right to possession. | However, it does not indicate the right to ownership. |
The transfer of ownership is a technical and long process and involves conveyance | Transfer of possession is fairly easier and less technical. |
Ownership is essentially a bundle of rights, all rights in rem. | It is not a right, just a prima facie evidence of ownership |
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