concept of ownership

concept of ownership

1. Austin

   • relation between person and thing

2. Salmond

   • relation between person and right vested in him

3. right of ownership-corporeal

4. ownership of right-incorporeal

5. modes of aquisition of ownership

   • original
     • absolute-adverse and acessory
   • derivative

6. types of ownership

   • corporeal and incorporeal
   • trust and beneficiary
   • legal and equitable
   • vested and contingent
   • condition precedent and subsequent
   • co-ownership and joint ownership
   • sole ownership-o-ownership
   • absolute and limited

7. essentials

   • Indefinite in the point of user
   • interest of the owner is perpetual
   • unrestricted in point of disposition
   • right to possession
   • right to exhaust the thing
   • it has a residuary character