UNIVERSITY INSTITUTE OF LEGAL STUDIES

PANJAB UNIVERSITY, CHANDIGARH

In partial fulfillment of required for the Syllabus of

B.COM.L.L.B (Hons.) (Semester-II)
TOPIC OF THE ASSIGNMENT
OWNERSHIP

SUBMITTED BY:- SHABAD MANDER

COURSE:- B.COM.L.L.B (Hons)

ROLL NO:- 320/24

SUMMITED TO:- MS. MANISHA GOYAL

 ABSTRACT:
Jurisprudence is the foundation of legal philosophy, establishing the
principles that govern the nature, purpose, and interpretation of law in
society. Among the key classifications of jurisprudence are natural law,
legal positivism, sociological jurisprudence, and legal realism, each
representing a distinct perspective on the legitimacy and function of law.
Natural law theory asserts that laws derive from moral principles and
universal justice, making them inherently valid. Legal positivism, on the
other hand, separates law from morality, defining it strictly as commands
enforced by the sovereign authority. Sociological jurisprudence focuses on
the social impact of law, emphasizing its role in shaping and adapting to
societal needs. Legal realism lies in between—acknowledging that law is
not just a set of rules but is influenced by judicial discretion and practical
outcomes. This paper delves into the nuanced understanding of
jurisprudence, exploring its essential theories and distinctions as laid out by
legal scholars. Supported by landmark legal philosophies and judicial
interpretations, it provides an analytical view of how these schools of
thought apply in practice, laying the groundwork for understanding their
implications in legal reasoning and policy-making.

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 ACKNOWLEDGEMENTS

I would like to express my deep gratitude to Ms. Manisha Goyal for her
insightful guidance and continuous support throughout the course of this
project. Her expertise and encouragement have been invaluable in
helping me navigate the complexities of this topic. I would also like to
extend my thanks to my family and friends, whose patience and support
provided me with the motivation needed to complete this work. This
project, "Natural Law School", would not have been possible without the
contributions and encouragement of those around me.

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 TABLE OF CONTENTS:

S. NO. Title Page no.

1. 4
Introduction

2. Concept of Ownership 6

3. Natural and incidence of ownership 8

4. Modes of acquisition of ownership 10

5. Role of ownership in modern times 14

5. Conclusion 15

6. List of References 16

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 Introduction
The word ownership strikes the imagination with the picture of
property, property without which there can be no ownership or
possession. During the earliest of times when humans were nomads
and did not posses the skill of cultivation and civilization the
concept of ownership never crossed through the minds. However,
the concept of possession was formulated before the concept of
ownership and that too only when humans started to cultivate.
Property as a legal concept has been defined by the Supreme Court
of India in Guru Dutt Sharma v/s State of Bihar, as ‘a sum of a
bundle of rights and in case of tangible property would include the
right to possession, the right to enjoy, the right to destroy, the right
to retain, the right to alienate and so on.’ And along the clear
concept of property comes the ideas of

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Concept of Ownership
With the growth of civilization, humans settling down to cultivate
and produce their own food and staying at one place they began to
develop the idea of ownership and recognized the terms ‘mine and
thine’ First came the concept of possession then the concept of
ownership evolved. The Roman Law had two distinct
terms‘possessio’, which denotes physical control over a thing and
‘dominium’ which denotes the absolute right to a thing. Ownership
as an absolute right in English Law evolved through the
developments in the law of possession, according to Holdsworth
and the term ‘ownership’ was first used in English Law in 1583.

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 Definition

Ownership has been defined by many jurists, some opine it is the

relation between a person and a right vested in him and some opine
that it is the relation between a person and the thing that is the
object of the ownership.
Austin
According to him, ‘Ownership means a right which avails against
everyone who is subject to the law conferring the right to put thing
to user of indefinite nature’. And ‘a right indefinite in point of user,
unrestricted in point of disposition and unlimited in point of
duration’ when it comes to full ownership.

Austin’s definition of ownership has three characteristics: –

 Indefinite in point of user- it means that the owner may use
the property howsoever he may desire so. For example, if a
person owns a piece of land, he may build a house on it, use it
as a garden or may simply leave it as it is. But at the same
time, he must not use it to injure his neighbors.
 Unrestricted in point of disposition- the owner has a right of
transfer or disposition without any restriction. However legal
systems impose certain restrictions on some transfer or
disposition.
 Unlimited in point of duration – the owner has the right of
ownership till the object is in existence and as soon as the
thing is destructed the right is extinguished.

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 Nature and Incidents of Ownership

On analyzing the concept of ownership one can find certain

attributes which reveal the nature or characteristics of ownership
such as usage, enjoyment, disposition etc. Nature of ownership is
as follows: –
1. It is indefinite in point of user i.e., the user may use the thing
owned in any way he so desires and is in no obligation to not
to use it. The user is at liberty to use it

2. It is unrestricted at point of disposition. The owner may

transfer or dispose of the property by conveyance either
during his lifetime or even after his demise by way of will.

3. The owner has the right to possess the thing owned although
if he actually possesses it or not is immaterial, only the right o
possess is of material in nature.

4. The owner has the right to exhaust the thing owned while
using it if the nature of the thing is so.
5. It is residuary in nature. Even if some rights to a certain
property may be given to someone else in way of lease or rent,
still the owner remains to be the owner due to the residuary
characteristics to it.

6. The owner has the right to alienate the property as well as the
right to destroy it.

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Incidents of ownership

1. Right to possess – ownership entails the right to possess the

thing owned even if there is no actual possession of it, only
the right is of the essence.

2. Right to use – ownership implies that the owner can use or

enjoy the thing owned in any manner he thinks fit without
injuring others and within the limits of the law.

3. Right to manage – ownership contains within it the right to

manage the property. It means that only the owner can decide
what to do with it, how to do and by whom it is to be done, to
transfer or to alienate or to destroy.

4. Right to income – ownership also entails the income

generated out of it is owned by the owner. All benefits
attached to the thing owned is the right of owner.

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Modes of Acquisition of Ownership

There are two modes of acquisition of ownership and they are

original and derivative. Original mode when things which had not
been owned before and can be acquired by possession. The things
owned before ownership over that thing is by derivative mode.
Original mode is of three types absolute, extinctive and accession.
Absolute in case where it previously belonged to no one. It can be
acquired by either specification or occupation. In occupation an
ownerless thing is owned and in this the physical control is
essential. For example, birds, fish etc. In specification the material
belonging to other when the shape given by another. For example,
clay collected from someone’s land is made into a sculpture by
another. Extinctive when the ownership of previous person is done
with by reason of by the acquirer. Accessary when acquired as an
accession.

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Kindswnership
Corporeal and Incorporeal Ownership –
Corporeal ownership is the ownership of material object. It is the
ownership of tangible things which can be perceived by the senses.
For example, ownership of house, factory, machines, etc.
Incorporeal ownership is the ownership of a right. It is the
ownership of intangible things which cannot be perceived by the
senses. It also includes intellectual property and encumbrances. For
example, ownership of shares, trademark, copyright, etc.
Trust and Beneficial Ownership –
Both ownerships are found in a trust involving a trust property. In
the trust one is made a trustee and given property to hold and use
such property for the benefits of the beneficiary.
The ownership of the trustee is trust ownership. This is a nominal
ownership and is not real as it is only for the benefit of the
beneficiary. In the eyes of law, the trustee is the representative of
the beneficiary and has no right of enjoyment of the trust property.
This ownership is only a matter of form and not of substance as the
property is given fictitiously by the law and is only deemed to be
the owner of the property due to the fiction of the law.
The ownership of the beneficiary is the beneficial ownership.
Although in the eyes of law trustee is the owner but between the
trustee and beneficiary the latter is the owner of the trust property.
For example, a property is given to A on trust for B then A is
trustee and B is beneficiary. A has trust ownership, the legal owner
in the eyes of law who is obligated to use the trust property for the
benefit of B who has beneficial ownership.
Legal and Equitable Ownership –
Legal ownership has its origin in the rules of common law. This is
a right in rem as it can be enforced against the whole world.

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Equitable ownership has its origin in the laws of equity. This
ownership is a right in personam as it can be enforced against a
particular person. This ownership is recognized even when there is
a legal defect.
For example, A sells his shares to B but a transfer deed is not made.
The company refuses to acknowledge B as the owner and law
gives no relief. Rule of equity helps here as A is the legal owner
but he holds the shares as a trustee of B. B here is the equitable
owner.
Vested and Contingent Ownership –
Vested ownership means where the title of the owner is already
perfect. In this the ownership is absolute. For example, in a gift
deed a donee (to whom the gift is gifted) cannot take possession of
the gift property but he has vested interest till the death of the
donor and his wife. The donee can although transfer the said
property after the death of the donor.
Contingent ownership implies that the ownership is not absolute
but conditional. The ownership is imperfect and becomes absolute
and perfect only on fulfillment of some condition. For example, A
leaves his property to B and on B’s death to C. The ownership of C
is contingent ownership as he will get the property only after the
death of B
.
Sole Ownership and Co-ownership –
Sole ownership is when only one person has the whole and sole
right in a property and no one else can claim any right whatsoever
over the property in question.
Co-ownership is when more than one person has a right that is the
undivided and vested in all of them at the same time. The parties
do not separately own a part but co-owners of the same property.

Co-ownership and Joint Ownership –

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Co-ownership the property in question is commonly owned by
both the parties and on demise of one party the heirs of that party
would inherit part of it. For example, A and B are in a co-
ownership. On death of A, A’s heirs will get half of the property.
Joint ownership is when a property is jointly owned by parties and
on the death of one party the ownership dies with him and cannot
be inherited. For example, A and B are joint owners of a property.
On death of A, B becomes the sole owner of the said property.
Absolute and Limited Ownership –
Absolute ownership means that except the owner in whom all the
rights are vested there are no other person who can claim any right
over that property. But there may be legal or contractual
restrictions upon the usage of the said property.
Limited ownership means in the ownership there are limitations on
the rights of usage, duration or disposal of the property. For
example, before 1956 a Hindu woman had only limited ownership
over a property and after her demise the property would be
inherited by the heirs of the last holder.

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Role of Ownership in Modern Times
Ownership as a concept has evolved since long and has developed
as a sign of power, wealth and social standing. Individual
ownership is a more recent idea and ownership within the
community was a concept during the initial stages of society
formation. In his book Physics and Politics, Mr. Bagehot had
brought out that in order to bind the society in its forming stages
‘everything which tended to individualism would naturally be
discouraged by the tribal feeling of self-preservation.’
Ownership was only for the monarchs and in some instances for
the church, apart from them no one had any right over any property.
Concept of private property came into existence only after
feudalism was done with and dissolved and the military heads had
absolute power over his domain which gave way to modern private
ownership. Feudal lords held land and other properties and labours
were the ones who although worked on the said land but had no
rights in it whatsoever.
Later with the advent of machines and the industrial revolution
came in the rights of the labours and they now had equal rights to
negotiate with the owners of the property. In this era the owner was
not the only one with power, wealth or social standing. New
legislations in industries and labour sector forced the industrialists
to share their profits with not only the labour force but also to be
paid as taxes and in more recent time as corporate social
responsibility.
In the current times ownership is neither absolutely with the
government nor the power the ownership provides is with the
industries. The labour and industrial laws enacted has impacted the
social and economic conditions of the nation as a whole.
Ownership now distributes power, wealth and status among all.

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 Conclusion
Ownership in its nature is residual and can be said to have a bundle
of rights attached to it, but at the same time it also denotes the
relation between a person and the thing to be owned. That
throughout the years the concept of ownership and possession has
evolved and has been embedded in the minds of human that may or
may not be in a legal sense. It has impacted society and even
society has impacted its definition, meaning, scope and
understanding. Ownership may mean different things to different
people but what does not change is the fact that along with the
rights attached comes liability, obligations, duties toward others
and society in general.

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 LIST OF REFERENCES

1. , N. S. (2017). INTRODUCTION TO JURISPRUDENCE (2ND ED.). EASTERN

BOOK COMPANY.

2. JAIN, M. P. (2020). INDIAN CONSTITUTIONAL LAW (8TH ED.). LEXISNEXIS.

3. SINGH, R. (2018). JURISPRUDENCE: A GUIDE FOR STUDENTS. NEW DELHI:

EASTERN BOOK COMPANY.

4. BASU, D. D. (2018). INTRODUCTION TO THE CONSTITUTION OF INDIA (23RD

ED.). LEXISNEXIS.

5. KHERA, M. L. (2019). JURISPRUDENCE AND LEGAL THEORY. NEW DELHI:

CENTRAL LAW AGENCY.

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