Question

difference between possession and ownership

Answer 1

Answer:

possession is used with alone and ownership is use with group.

Answer 2

Sr.

No.

Ownership    - x

Possession   - y

1.

x - Ownership is an absolute authority over the property.

y -Possession is physical control over the property.

2.

x - It holds unlimited and uncontrolled rights over the property.

y - It is a limited concept of right.

3.

x - It is a union of ownership and possession

y - It is a single concept giving no right of ownership.

4.

x - It is a de jure concept.

y - It is a de facto concept.

5.

x - Ownership right is a wider concept.

y - Possession is a right of consumption only.

6.

x - It is a perfectly legal right. It shows legal situation.

y - It is a possessory right only. It shows real position.

7.

x - Transfer of ownership is not an easy process, but it needs legal or formal procedures, prerequisites of registration.

y - Possession is a comparatively easy process and practically no need to register and such formalities like ownership.