The Concept Of Ownership 2v6x5y

The Concept of Ownership, the Rights of Owners, and Possession 2.1 Ownership Ownership is a status or situation that confers on a person the greatest range of rights over a property. - Having title to property Having property in an object Ownership can be obtained: - by purchase - through a gift - through a devise (gift) in a will - by the establishment of a trust - by operation of law Ownership of property gives the holder certain rights: - to transfer ownership in any of the above ways - to use it as a security for a loan (a mortgage) - to keep possession and use the item - to give possession of it to another - to grant special contractual rights over it - to commit waste, that is, demolishing a house or allowing it to fall into disrepair - abuse or destruction of personal property 2.2 Possession Possession is the right of control over property, and usually also includes (unless the law or the parties state otherwise) the right of use. Common situations of legal possession are bailment, lease or hire agreements, and hire purchase agreements. A. Bailment(财物的)委托；保释

B. Lease or Hire agreement C. Under a hire purchase agreement (consumer credit contract) 2.3 The nemo dat rule The transfer of title to goods (ownership) by gift or sale is subject to the rule known as “nemo dat quod non habet” which in effect translates as “no one can on a better right to ownership than she or he has”.