3 Kinds of Ownership

KindsBasis of divisionEssentials with exampleSole vs. joint/co-ownershipNumber of ownersOne owner / several (coparcenary-style family holding, spousal joint ownership; joint tenants' unity of possession — none may exclude another)Corporeal vs.incorporealownershipObjectOwnership of things (land, buffalo) / of rights (copyright, a debt, goodwill). Incorporeal ownership is ownership of a right, itself object of further rights — the "re over a jus" puzzle jurists savourLegal vs.equitable(beneficial)ownershipCourt/legitimacy of titleTrustee's legal ownership vs. beneficiary's beneficial ownership — the split-ownership that equity perfected; guthi practice: guthiyar's management right vs. the trust's beneficiaries and religious purposeVested vs.contingentownershipDependence on eventVested: complete now (my land); contingent: awaits an event (the unborn heir's ownership contingent on surviving; the life- tenant's remainderman)Absolute vs.limited (qualified)ownershipCompleteness of the bundleAbsolute: all sticks; limited: some are carved out or conditioned — life ownership (only for the owner's life), ownership subject to easements, leasehold burden, fiduciary limits (trustee may not sell for self)Trust vs. beneficialownership(Sub-species of legal/equitable)Same trust split, named by functionLimited ownerships deserve one more look (exam favourite):• Life ownership/estate — ownership measured by a human life; on death the remainder matures;• Fiduciary ownership — the trustee's powers exist only for execution of the trust; personal benefit is a breach — ownership as office, not dominion;• Ownership subject to charge — the mortgagor retains ownership (in Nepal's mortgage doctrine, possession frequently remains with the mortgagor while…