difference between ownership and possession. The actual exercise of a claim to a specific piece of property is known as possession. But they’re two different terms with distinct meanings. Non-exclusive possession will occur where the landlord or owner of the building is entitled to move the tenant from place to place within the . Ownership, Possession ; Ownership involves the absolute rights and legitimate claim to an object. 0: RELATIONSHIP BETWEEN POSSESSION AND OWNERSHIP The two terms are interwoven as it was held In Oge v Ede (1995) 3 NWLR (pt. How are possession and ownership different? Possession in law recognises a person’s right to possess an object even though he is not physically in possession of it. The owner has a right to consume destroy or alienate the thing. c)The Presumed Property View: the fact of possession gives rise to a presumption that C has a proprietary interest. seller retain possession in fact on behalf of the new owner, the purchaser. But ownership includes more rights than mere possession. Describe the four steps in the Proprietor's Risk Management Framework. It may be noted that position is prima facie evidence of owners only in certain situations. Possession or the right to use is for a limited period, but the ownership of an object is for an indeterminate period of time. Click here to get an answer to your question ✍️ Difference between ownership and possession of goods with example. For example, if I buy a book and lend it to my friend A, I have title to it, but A has possession. With the help of an illustration, I will further explain the difference between. In grammatical terms, when we speak of contractions it means a shortening of words. Ownership has the characteristic of being indeterminate in duration. In the primitive societies, there was no idea of ownership. An example of possession would be if you borrowed your friend’s car for a weekend trip; you are in possession of the car during that trip, but your friend still. Legal possession normally requires an intention to possess plus an appropriate amount of occupation or control. Furthermore, possession and formal transfer of ownership are often thought to be the same thing. Secondly, enjoyment of the thing […]. Ownership gives the right to possession. Owner Ownership is always with the owner of a property. Possession in law recognises a person's right to possess an object even though he is not physically in possession of it. I conclude that they can be and I go on to consider the relationship between ownership and the interest acquired through possession. 1 2 Meanings and forms in possessive noun phrases Like many linguistic terms, ‘possession’ is somewhat ambiguous. The difference between “strong” and “weak” possession is mainly relevant in the following cases : - bona fide acquisition from a non-owner or person without . sense of ownership, this what known as animus. Last Updated on 2 years by Admin LB Relation between Possession and Ownership | Overview Nature Subject-matter Possession without ownership Ownership without possession Duration Possession as Evidence of Ownership Modes of Acquisition Possession in law recognizes the right to possession of a person even if he is not in physical possession of the object. Limited ownership is the ownership that is not absolute or perfect. Possession is fact of having property. The main difference between possession and ownership is that possession is requiring a physical custody or control of an object while . The linguistic expression of possession and ownership often has overtones of power, and control. It expresses the closest relation of fact that can exist between a thing and the person, who possess it. • Ownership; • Possession; and • holdership. Right Ownership gives the right to possession. Possession involves deep passion, which you may mistake for love. Although he can transfer the possession, but cannot dispose of it because he is not the actual owner. What behavioral studies can teach jurists about possession and vice versa. Write a comprehensive note on direct, indirect and duplicate possession. “Ownership” is, in general, the right (or a set of rights) to control a thing, a piece of property. Love requires both parties to give their all, not just one. Ownership and possession of the property are commonly deemed the same terms, but there is a difference between possession and ownership. In law, possession means it includes not only physical. As nouns the difference between possession and property. … Ownership itself gives the owner the right to possession. However, in legalese, these two terms have different meanings. Difference Between Ownership And Possession. As said before, the law makes a distinction between ownership and possession. A legacy of Roman law in German law is the strict separation between possession, which is in principle a mere fact, and ownership, . And the driver is said to be in possession of the truck but then the possession of the truck does not entitle him to ownership of the truck. Difference between Custody and . A brief summary in }7 is followed by an overview of this volume. Many common nouns end in the letter s ( lens, cactus, bus, etc. In context|obsolete|lang=en terms the difference between possession and property is that possession is (obsolete) to invest with property while property is (obsolete) to make a property of; to appropriate. The economy of concept and possession. The right of alienation is an essential characteristic feature of ownership. Concept of possession and ownership. Animus means an intention to treat the property as mine i. The ownership is called beneficial ownership. What is the difference between Ownership and Possession? • Ownership signifies permanence whereas possession is mostly temporary. Here, we present difference between ownership and possession. Ownership is the relation of the person with an object forming the subject matter on ownership. These terms are different and have different meanings. Ownership right is a broader concept. Possession is a possessory right only. How can you tell the difference between possession or love? try to get others to bend to their will, which is a sign of ownership. "The only difference between the possession of a co-owner and other cases is . The top court referred to the “doctrine of adverse possession”, under which a person who is not the original owner becomes the owner because of the fact that he has been in possession of the property for a minimum of 12-years, within which the real owner. Difference between Ownership and Possession. So for example, if the owner leases the object, or gives it for use, etc. The ownership of a trustee is nominal and not real but within the eye of the law, the trustee represents his beneficiary. (KJV) Just because God gives you something is no sign that you will enjoy it! This morning: Ownership & Possession. 1) possession 2) enjoyment 3) disposition. It can be tangible, having physical form, or intangible such as a right of way, a right of first refusal, a stock option. Possession is a related term of tenure. 210504 "In a number of cases, this Court had . “possession is a prima facie proof of ownership of property” and . According to Salmond, Ownership, in its most comprehensive significations, denotes the relation between a person and right that is vested in him. Solved Example on Kinds of Ownership. However, it's extremely important to remember . Possession means having physical custody or control of a property with an intention to continuously retain the property, while ownership is the exclusive legal right to possesses something. The closing (or completion) date is the date that ownership and title to the home is transferred along with the payment of funds from the buyer’s lawyer/notary to the seller’s lawyer/notary. The main difference between ownership and possession is that possession is . Various sources offer different versions of the bundle of rights, but the . “Looking for a Similar Assignment? Order now and Get a Discount! The post Differentiate between the following three real relationships: Ownership; Possession; and holdership. –Ownership is a kindred conception of possession, there-fore it will not be out of place to say a few words on the relationship between the two. Discuss the difference between possession and ownership. The concept of ownership is used in widest meaning. · The actual transfer- ownership is registered in . The word contraction means “the process of becoming smaller”, just like when you let the air out of a balloon or exhale from your lungs. Ownership is an absolute authority over the property. A contraction is a shortened form of two words written as one word and an apostrophe takes the place of the missing. "It cannot be disputed that a person in possession of land in the assumed character of owner and exercising peaceably the ordinary rights of ownership has a . The fast answer is as follows: when the estate has an Estate Registration Number (RGI), there is ownership. Difference between Ownership and Possession in Jurisprudence. Commercial Property: What is the difference between exclusive and. Adverse possession is a legal theory that allows someone in possession of land to acquire ownership of that land if they satisfy certain . In this session, i have discussed 8 important differences between Possession and Ownership in just about 4 minutes. The sale of a titled property will come with a nice slap on the cheek in the form of a 5% tax of sale value. Act, a trustee is the legal owner of the trust property and the . It has been treated as an external evidence of ownership. • Ownership does not require possession. Salmond makes a distinction between […]. Ownership is a de jure concept, while possession is a de-facto concept for claiming the property. No legal rule states that "possession is nine-tenths of the law," but this phrase is often used to suggest that someone who possesses an object is most likely its owner. Possession is the most basic relation between man and a thing. Answer (1 of 4): It seems, occupation is more related to occupying a property to conduct certain tasks on it, and therefore physical presence, for whatever be the period, is condition precedent. Such a recognition is essential to dealing with the underlying prob- lem of property law: reconciling the tension between the "true owner"' of property and the . Here we will discuss the main key points and their. Possession means having physical. Although it depends on your location, some guns have very lax gun laws. In some cases, you will own the buildings or other improvements on the land. A bundle of rights describes the legal rights associated with property ownership: the right of possession, control, enjoyment, . Kinds of Possession: Corporeal – It is claimed to the exclusive use of material things like land, buildings and other movable or immovable things. Ownership can be considered as a fact that can be proved through the title of the property. What is the Difference between Possession Certificate and Occupancy Certificate? A possession certificate states the property completion date. “Possession” literally means 'physical control over a thing or an object'. It is the outward form in which claims are most commonly manifested. Ownership is the right which grants a thing or objects to a person in a manner that the thing belongs to that person. • Power and intention to control a thing is important in the concept of possession. The difference between love and possession is simple. If you don’t get an occupancy certificate, the local municipal body can deem the property as illegal. To understand what is ownership? Ownership is the exclusive legal right to. The ownership the complete legal right and a valid claim of the owner for the object, whereas the possession gives the right to use, and it is just a physical control over the object. Justinian abolished the theoretical distinction between civil and bonitary ownership. We can take you through the entire process and provide you with a . distinction between two different ways for allocating resources among humans living together in some kind of organized society – possession and ownership. That principle often appears to fly in the face of our modern deeply held views about property ownership. The ownership gives the right to possess the object; possession does not give the right to own the object. Possession is a usual incident of property ownership. Possession is a synonym of property. Whereas the first legal term means that something belongs to somebody, the second one means that the. Adverse possession is a legal concept whereby land passes ownership when its the owner lives in a different country and never visits the . Difference between ownership and possession in hindi. However mere possession alone does not grant the possessor rights in the property superior to the actual. The possessor has a better claim to the title of the object than anyone, except the owner himself. A possession certificate is issued by the developer or the seller, which proves the transfer of ownership rights. Or if I rent a house, the landlord has title (or possibly the landlord's bank does) but I have possession. State the main difference between possession and ownership? Possession means physical control over a property. Let us learn about ownership and possession in jurisprudence and the difference between the two. Ownership: • Confers certain basic rights over the property for example rights to exclusive use, possession, misuse and disposition. Course: Real Estates Law BUQS 2012. For example, if I have a building that I am renting out, I own it but it is my tenants that are physically in possession of it. Ownership: Possession: Ownership involves the absolute rights and legitimate claim to an. The essential purpose of the state differs between them: the Rousseauvian contract fostering civil equality and Lockean compact preserving natural inequality. What Is the Difference Between Possession and Ownership Meaning of Ownership. The German law first differentiates between "ownership" (Eigentum) and "possession" (Besitz). The term ownership gets derived from the Latin word ‘own’, which means “to have or to hold a thing. custody or control of a property with an intention to continuously retain the. Difference Between Constructive Possession and Physical Possession Constructive possession ( qabd hukmi ) is the process or act or state of a party/ person having the legal rights over an asset , without having its in his/ her actual possession. Possession is an evidence of ownership. outlining the owner of a property which is in possession of the owner or mortgagees in the .  However, a person who wrongly believes that they are a tenant could also occupy a property and acquire possession of it in the same way as a . W Paton: Ownership includes four rights-1. The word possession in law oftentimes coincides with ownership. And finally, ownership is residuary in character. It would be a private dwelling or private commercial building. According to Bentham: To define the ownership is to display the image that comes to mind when you have to decide between two parties, which is holding one thing and that is not. The distinction between occupation and possession is often misunderstood. in/Difference-Between-Ownership-and-Possession-blog-1269832. • Ownership is a guarantee by law whereas possession is a physical control. In the US, the “bundle of rights” is a concept that describes the legal rights that property owners receive when purchasing or acquiring a . For example, both explosives and guns are very easy to obtain in the US legally. The idea of ownership follows the idea of possession. It’s a mandatory document that affirms your ownership of the property. -Ownership is a kindred conception of possession, there-fore it will not be out of place to say a few words on the relationship between the two. Possession is a relation of a person to an object which law recognizes as possession. As nouns the difference between possession and tenure is that possession is control or occupancy of something for which one does not necessarily have private property rights while tenure is a status of possessing a thing or an office; an incumbency. In the first case, a fence has been built by person A that encroaches onto person B’s property, meaning that a portion of person B’s property now falls into person A’s use. However, in legal terms, they have different meanings. There is a big difference between ownership of the land and possession of it. 24 Therefore I say unto you, What things soever ye desire, when ye pray, believe that ye receive (to take) them, and ye shall have them. This might be the case if for example, the substance is found in a car with a group of people and they all have control of the substance. How to use possession in a sentence. Love is selfless, supportive and always encouraging. And to the layman, the terms seem to have the same meaning. Ownership is a complex juristic concept which has its origin in the Ancient Roman Law. United States: What's the Difference. As nouns the difference between ownership and custody. The law distinguishes between ownership (title), possession and custody of goods. Chapter 1: Security From the Ground Up Review Questions 1. It means to own the object by the owner. The occupation certificate gives you the right to property, whereas the possession certificate shows proof of transfer of such property to the. The ownership of the goods may pass with or without the transfer of possession. Understanding the difference between adverse possession and prescriptive easement may be easier by looking at two examples. Ownership is generally deﬁned as a legally and/or socially sanctioned arrangement between people with respect to a thing and other people, where the ‘thing’ in question may include land, material objects or even ideas (Gaus, 2012; Munzer, 1990). Salient Differences between Ownership and Possession Possession is a relation of a person to an object which law recognizes as possession. Ownership is the right to gain an item, and the owner has the right to destroy the object, whereas. Difference between possession and ownership According to Austin, ownership in its wider sense is a right “indefinite in point of user, unrestricted in point of disposition and unlimited in point of duration”. In this video, we are going to discuss the differences between Ownership and Possession in jurisprudence. This is a relation between people, between the owner and the rest of the world. An owner shall have a right to possess the thing which he owns, he may however not be necessarily in actual possession of it. The difference between land tenure and ownership is a common question for those looking for real estate in Paraty. The biggest difference between gun possession and explosives possession relates to the legality of ownership and transport. It is the most typical form in which claims are made. Ulpian famously wrote that “ownership has nothing in common with possession”. Where the owner enjoys the right to use and enjoy the property for a limited period of time as long as some other person is alive. There follows a treatment of possession and ownership, categories that are closely related historically in the West. How to Recover the Possession of a Real Property Heirs of Yusingco v. Difference Between Ownership and Possession • Ownership signifies permanence whereas possession is mostly temporary. Christian and Jewish law context. Possession is the act, state, or right of having physical custody and/or controlling something. They have distinct legal definitions. 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. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it (for example squatting). Although the two terms are often confused, possession is not the same as ownership. The Romanian doctrine considers that possession is a fact consisting in the exercising of the prerogatives of the right of ownership or of . Here we will discuss the main key . Possession does not give the right to ownership. The ownership is the de jure recognition of the right over the property. Definition of possession b : control or occupancy of property without regard to ownership. In Roman law ownership and possession were respectively termed as ' . It was only after they started . 2d at 485 (noting the distinction between occasional trespass and intent to claim a property through adverse possession). As nouns the difference between possession and property is that possession is something that someone possesses, but to which he does not necessarily have. Ownership involves the absolute rights and legitimate claim to an object. Possession which also includes eliminating others from that thing. This is a comparison used in many property law courses. - The buyer of the truck, who owns it may lend it to a driver who is working for him. There is no distinction between legal and equitable estates in India. With the help of an illustration, I will further explain the difference between ownership and possession. The only concept that they identified with was that of possession. What are the Key Differences between . Possession can be given to someone else. 1 The distinction between proprietary and possessory title. • Actual possession means physical control of a thing whereas ownership means the name in the title deed. Thus, the transfer of possession is merely the delivery of the goods, and not the transfer of ownership. The distinction between personal rights and property rights17 dates back analogous to ownership or possession' was violated resulting in . Similarly, possession requires that a person . · The term ownership is derived from Latin word 'own' which means “to have or to hold . Explain the relation between the possession and ownership. Its is the possessive form of it, used to indicate possession, ownership, belonging, etc. Therefore, a party in possession can resist the claim of the rightful owner by pleading prescription,38 but possession how long cannot confer ownership against the title of a person admitted or established. There is a distinction between all the above types of suits with i. The main difference between possession and ownership is that possession is requiring a physical custody or control of an object while ownership is the right through which something goes to someone. But at the same time, the English approach ignores important conceptual differences between owner and possessor, treating them both simply as holders of . Supreme Court has said that "there is no word more ambiguous in its meaning than possession" ( National Safe Deposit Co. Three major 110 approaches to ownership have been dominant. The Distinction Between Occupation and Possession and its Relevance in a Property Transaction. However, there are important legal differences between these concepts, and you should ensure that you are aware of these to avoid uncertainty and issues later in the transfer. possession is not the same as ownership. In the wake of the present real estate crisis, there has been prolonged discussion of the wrongdoing that led to systemic failures in the national real . Legal facts are events with legal consequences. Proof of ownership is conferred by possession of a deed. Arguably, the biggest distinction between possession and ownership is that of permanence – which has more of an association with ownership. To show possession with a singular noun, add an apostrophe plus the letter s. Possession The ownership, control, or occupancy of a thing, most frequently land or Personal Property, by a person. DIFFERENCE BETWEEN OWNERSHIP AND POSSESSION https://www. Distinguishing Ownership fr om Possession Possession is the physical control of a thing protected by law. The owner is the person who created the goods, purchased or acquired them by . A: Although both ejectment and accion publiciana are actions specifically to recover the right of possession, they have two distinguishing differences. The legal difference between ownership and possession was most relevant for land . English generally uses apostrophes to indicate possession, for example, Mary’s bike (the bike belonging to Mary) and the lions’ roars (the roars of the lions). This case of possession consists of firstly, continuous exclusion of alien interference. Possession and Ownership Possession is in fact, ownership is in right; This distinction mis-leading. Possession is the de facto exercise of a claim; ownership is the dejure recognition of one. The first is the filing period. Ownership vs Possession Ownership involves the absolute rights and legitimate claim to an object. On the other hand, ownership is exclusively a legal concept. This conceptual separation of ownership and possession in turn provides the . Apart from this, possession is a factual concept, whereas ownership is a strictly legal concept. Titled property is subject to a variable percentage annual tax, paid to the government and based on the registered value of your property. Do not merely define the terms but explain the difference between each of these relationships. In early Roman law possession was merely the factual state of affairs. – The buyer of the truck, who owns it may lend it to a driver who is working for him. However, the possession of the car by the driver does not entitle him to ownership of the car. 2) Holland: Ownership is a plenary control over an object. Ownership involves multiple rights, collectively referred to as title, which may be separated and held by different parties. Difference Between Ownership and Possession Definition. Deﬁning ownership and possession. Difference between Possession Certificate and Occupation. distinction it draws between ownership and possession. 3 different stages of transfer of ownership The actual transfer - transfer of ownership is registered in the deed's office Possession - the possessor now becomes liable for maintenance and repair of the property, runs risk of accidental damage or loss to the property and is also entitled to the benefits of the property such as rental income. At the end of the day, love will truly give you all you need, but possession will leave you broken and looking for what you once had. Ownership is also for an indeterminate duration. However, the • Actual possession means physical control of a thing whereas. No legal rule states that "possession is nine-tenths of the law," but this . In simple terms while both ownership and possession may seem to define a state, act, or right of owning something. The owner has three rights on the object owned. The most important difference between them, I shall argue, is that. Difference between full and sectional title? An owner with full ownership has the sole and exclusive use and possession of a property. Ownership is the act, state, or right of owning something. The discussion of property hinges on identifying the objects (things) and subjects (persons and groups) of the jural relationships with regard to things in Western legal systems generally. Here, the evidence shows more than . Locke asserts that private property precedes the state; legitimate ownership is not created by contract, but derived instead from a natural right. Possession depicts a legal situation. POSSESSION What is Possession?. The possession date is the date the buyer is entitled to take physical possession of the home/property. A person is the owner of a thing when his claim receives protection and recognition from the law but possession may be exercised and realized . Difference Between Possession and Ownership. When someone has legal rights over a property, it can be said that they own it. Difference Between Quiet Title, Easements, & Adverse Possession. But land which is not maintained, and . You purchase an exclusive right to possession of the land and the buildings on it for a specific period of time according to terms set out in a lease. 3 Therefore, while the lines between legal ownership and the concept of legal possession by be blurred a first, there is a distinct difference between the two. A titled piece of property can only be segregated 3 times (for a total of 4 parcels including. The exercise of this claim consists of two ingredients, Corpus Possessionis and Animus Possidendi. • Ownership signifies permanence whereas possession is mostly temporary. I'd agree with you, but to be absolutely particular, possession is one of the rights of ownership and is under the power of disposition, which includes right to encumber or to sell or to exclude third persons etc. Across the US, explosives are also relatively easy to obtain and own. While there are differences between Roman and common law in this area, it would be fair to say that the Romans had a notion of ownership, which they called dominium. is that ownership is the state of having complete legal control of the status of something while custody is the legal right to take care of something or somebody, especially children. Possession of a right, in contrast to the de jure connection of ownership, is the de facto relationship of ongoing exercise and enjoyment. Difference between ownership and possession ppt. 7 The classical Roman jurists were careful to distinguish between the two; Ulpian wrote that "ownership has nothing in common with possession (nihil commune 2. The claimant must establish that he or she possessed another's property for 7 . This comparison is most vivid in the. How does rule-based security differ from requirement-based security and what might be a good example of each?. Adverse Possession concerns a claim of ownership of real property. Possession in law recognizes the right to possession of a person even if he is not in physical possession of the object. What is 'ownership' in property law?. With leasehold ownership, someone else owns the land, and you pay rent to them. In contrast, a possessor, who is not the titleholder of the thing he possess, may enjoy their possession and may also have right to protect his or her enjoyment of that possession. He had normally the right to use and enjoy the thing owned. The date of possession of the property by the new buyer is mentioned in the certificate. Although you possess and own your phone, you have some restrictions. • The buyer of a car, who owns it, may lend it to a driver who is said to be in possession of the car. One can own something and not actually physically possess it. (7) Common ownership and possession of the dominant and servient . Possession is the act, state, or right of having Right. In the event that the two pipes belonged to two different owners, the new pipe . Possession also refers to the actual physical holding of a thing which gives rise to a presumption of ownership. ownership of the goods, whereas the term ‘possession of goods’ Simply means the custody or physical control over the goods. What is the difference between Ownership and Possession. To acquire registered title to land through adverse possession, the adverse owner needs to register the acquired interest with the Land Registry . According to Ihering, possession is the objective realization of ownership is a relation of a person to an object which is exclusive or absolute and ultimate. Distinction between Rights in ownership and possession- “Ownership” is a bundle of rights and obligations. As verbs the difference between possession and tenure is that possession is (obsolete) to invest with. The relation between the two owners is such one among them is under an obligation to use his ownership for the benefit of the other. 1) Meaning: "Possession" literary means physical control over a thing or an object. If you possess an object like a painting or an antique for many years, without actually having ownership, do you eventually become the owner . Accordingly, the first part of chapter 7 discusses the nature of ownership in general and then examines whether, in English law, land and chattels can be owned. Ownership is the state or fact of exclusive rights and control over property, which may be any asset, including an object, land or real estate, intellectual property, or until the nineteenth century, human beings. The relationship between a person and property and the right that’s vested in him is referred to Modes of Acquisition of Ownership. Then the discussion deals with divisions of ownership and in so doing contrasts the. Ownership is a union of ownership and possession, whereas possession is a concept giving no right of ownership. However, alone the possession certificate does not affirm the rightful owner of the property; an Occupation certificate is needed, which is issued by the local . Ownership does not require actual control; one can own a thing without ever having been in actual control at all. Besides being a prima facie evidence of ownership, it is also one of the modes of transferring ownership. Under the law of Alberta, when the owner reclaims the possession of the No distinction is made between adverse possessors acting in good . Difference between Possession Certificate and Occupation Certificate. Legal possession may therefore be associated . If a thief steals something, the thief has. Possession is immediate control, often but not always physical control. The difference between ownership and mere possession is that in the latter case, a person is exercising intentional control over a property, without necessarily being the legal owner. of a distinction between ownership and possession is the contrast between an ulti-. Explain the difference between possession, ownership, and control of software and media on a modern mobile device. There is a fine line between a relationship based on love and one based on possession, but it can be hard to see the difference when the relationship is your own. What is difference between ownership and possession? Ownership vs Possession. Discuss various modes of acquisition of possession. The law is nine-tenths of possession: an adage turned on its head. Possession is more the physical control of an object. Use the apostrophe to show possession. The owner obtains ownership of something that does not have an owner. In this article, we are going to discuss the key difference between the ownership and possession in a table form and easy way, that can help you to better understand. A thing is owned by me when my claim to it is . property, while ownership is the exclusive legal right to possesses something. Alan Rodger claims, “[it] is well known that no ancient legal text. How are possession and ownership different? Possession in law recognises a person's right to possess an object even though he is not physically in possession of it. Research in judgment and decision making generally ignores the distinction between factual and subjective feelings of ownership, tacitly assuming that the . 6 In rough terms, ownership is title and possession is actual enjoyment. Ownership is the subjective and objective. It signifies the externally and internally. In other words, notice the distinction between divided versus undivided . The ownership is private, combined, and common ownership.