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ownership Right to the exclusive enjoyment of some thing based on rightful title. The entirety of the powers of use and disposal allowed by law : Pollock. A right, indefinite in point of user, unrestricted in point of disposition, and unlimited in point of duration, over a determinate thing ; Austin. It may be absolute or restricted, corporeal (relating to, e.g., a book, a car) or incorporeal (relating to, e.g., the right to recover a debt), legal (as where A has fee simple absolute in possession or equitable (as where A life interest), vested or contingent. In essence, it is based on a relationship de jure, so that possession of the thing is not necessary. |