- Ownership is the legal right to possess something.
An example of ownership is possessing a specific house and property.
- the state or fact of being an owner
- legal right of possession; lawful title (to something); proprietorship
- The state or fact of being an owner.
- A group that owns something: The ownership of the team wants to make a trade for a better pitcher.
owner +â€Ž -ship
ownership - Legal Definition
The total body of rights to use and enjoy a property, to pass it on to someone else as an inheritance, or to convey it by sale. Ownership implies the right to possess property, regardless of whether or not the owner personally makes constructive use of it.