The main difference between Ownership and Possession is that Ownership is the complete right and valid claim to an item or object, whereas Possession is the physical control over an item or object.
Ownership vs. Possession
Ownership is the right to gain an item, and the owner has the right to destroy the object, whereas possession is the right to use an item, and the possessor has no right to destroy the object. Ownership gives you the right to own an item and enjoy its benefits; on the other hand, possession only gives you physical control of the item.
Ownership gives you the right to possess the object, and on the other hand, possession does not give you the right of ownership. The transfer process of ownership is lengthy, but the transfer process of possession is simple. In ownership, the owner possesses the object, but in possession, the possessor cannot own an object.
Ownership is of three classes’ private ownership, combined ownership, and common ownership. And on the other hand, possession is real possession, productive possession, and illegal possession. Ownership is the relation of the man with the object which can create subject matter of the ownership, but the possession is the basic relation of the man with the object.
What is Ownership?
Ownership is the right to own, use, and dispose of the object. The owner can own the object, and he becomes the possessor too. Then he has the right to use the benefits of the object. And he can destroy or dispose of the object while the object is in his use. Many authors and lawyers stated that ownership is a complete right or valid claim of the owner over an item or object. The ownership can be of any object, land, or any intellectual property such as copyrights or trademarks. The ownership can be private, combined, and common.
You gain ownership, and then you can also lose ownership in many ways. The proprietor has the right to consume and revel in the benefits of the possessed object. No one can stop him. He can even destroy the object in his ownership, but the Law restricts this in many cases. When you own something, you automatically become its possessor too.
The ownership of the object is transferable to anyone, but the transfer of ownership is a technical process, and it takes some time to transfer the ownership from one person to another. For example, a person buys a car by paying the full amount, he is now the owner of the car, and he has all the rights. The person is also the possessor of the car. The owner can use the car, and he can dispose of it too. He can transfer the ownership of the car, but it is a technical process that takes some time.
What is Possession?
Possession is considered the physical control of the person over an item or object. Possession is the right to consume the item. And the possessor has a better claim over the object then anyone, even the real owner himself is not considered the owner if the possessor is different. The possessor has a better claim over the object then the owner himself.
Possession cannot give you the right to own something. The possessor is not the owner of the object. The possession can be real possession, productive possession, and illegal possession. And the transfer of possession is an easy process. The process of transfer is less technical in the possession.
Possession is the ongoing implementation of a claim to entirely possess and use the object. The possession of the object is of a short time or long-time period, and it depends on the situation. The right of possession gives a personal right to become a registered owner of the object. Possession can be lawful if it is by the consent of the owner, but the possession becomes unlawful if it is not by the consent of the owner. For example, a person buys a car on lease from a bank. The actual owner is the bank, whereas the possessor is the person who is paying lease installments to the bank. The possessor has a higher entitlement to use the car. But he cannot dispose of it because he is not the actual owner. He can transfer the possession, which is a less technical process.
- 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.
- The ownership gives the right to possess the object; possession does not give the right to own the object.
- The ownership is private, combined, and common ownership. On the flip side, there is no classification of possession.
- The handover of ownership is a relatively tough and authoritarian process. Conversely, the handover of possession is less procedural.
- The ownership gives you the right to own, use, and destroy the object, but the possession does not give you any of these rights except the right to use.
Ownership gives you the legal right to own and use something, whereas the possession gives you the physical control of an object.