Ownership Definition

GLOSSARY

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What does Ownership mean?

The term ownership denotes a wide array of rights over property.

Ownership appears to have the widest set of rights over property and sometimes is called “absolute ownership” including rights of exclusive enjoyment, of destruction, alteration and alienation, of maintaining and recovering possession of the property from all other persons. Ownership of land differs from ownership over personal property or over goods in that the common law did not treat land as the subject of absolute ownership but only of tenure. Also, the common law did not recognise the alternative that the ownership of goods could be split up into lesser successive interests or estates, or remainders or reversions in chattels. See Halsbury's Laws of England, 80 (5th), 812, 813.

View the related checklists about Ownership

Submitting a planning application—checklist

Submitting a planning application—checklist Has the correct application form been used? If the application is not submitted in the correct form or is not accompanied by the required information, it will be invalid and the local planning authority (LPA) can refuse to validate it. The determination period does not begin until the date that the application is validated. The application must be made using either: • an online form, via the Planning Portal • the standard 1APP form, or • a paper form, downloaded from the relevant LPA’s website See Practice Note: Applying for planning permission—procedure. Have the statutory national information requirements been satisfied? Is the application form accompanied by: • a location plan and a red-line site plan? • any other plans, drawings and information necessary to describe the development? • in England, information relating to the biodiversity gain condition? • completed certificates of ownership, stating any freehold interests, or leasehold interests of not less than seven years? • copies of notices to all owners of the application site?...

Contractor steps to take if employer becomes insolvent—checklist

Contractor steps to take if employer becomes insolvent—checklist This Checklist sets out a number of practical steps that a contractor should consider taking where the employer becomes insolvent during a construction project. This Checklist assumes that the employer has entered into a written contract with a main contractor for construction works which are not yet complete, and that the contractor has engaged sub-contractors. It assumes that it is not a PFI project. The actions to be taken in any specific situation will of course depend on the terms of the contract(s) between the parties and the status of the works at the time of the employer's insolvency, but this Checklist is intended to provide a starting point for the contractor to consider. For guidance on how to spot potential problems with solvency and how to protect the contractor’s position at the outset of a project, see Practice Note: Construction insolvency—how to spot problems and how to protect yourself—contractors. In the event that the employer has become insolvent, the contractor needs...

Local housing companies

Local housing companies Housing delivery Over a number of years the term local housing company (LHC) has had various meanings in the context of housing delivery vehicles. It was first used post Housing Act 1996 in the context of large scale voluntary transfer of urban estates to a company which had equal representation of the local housing authority (LHA), tenant and independent members and often attracted Government subsidy for example, from the then Estates Regeneration Challenge Fund (ERCF). See Practice Note: Housing stock transfer. The term LHC appeared again in the Housing Green Paper, 'Homes for the future: more affordable, more sustainable', in July 2007. The model on this occasion as envisaged by English Partnerships (subsequently the Homes and Communities Agency and now Homes England), involved a 50:50 long-term corporate joint venture between the LHA and a private sector partner established to develop local authority land. The term LHC today is used to describe independent arms-length commercial organisations wholly or partly owned by LHAs which develop, buy...

Ownership of highway land

Ownership of highway land Some highway land is merely vested in the highway authority and other highway land belongs completely to the authority. Vested land The key to an understanding of the ownership of highway land lies in its history. As Sydney and Beatrice Webb wrote in The Story of the King's Highway in 1913: 'To the citizen of today, the King's Highway appears as an endless strip of land, with definite boundaries, permanently and exclusively appropriated to the purpose of passage, with a surface specially prepared for its peculiar function. To the citizen of the twelfth, the fifteenth, or even the eighteenth century, the King's Highway was a more abstract conception. It was not a strip of land, or any corporeal thing, but a legal and customary right” as the lawyers said, "a perpetual right of passage in the sovereign, for himself and his subjects over another's land". In one of our oldest law-books it is definitely laid down that "the King has nothing but the...

Discover our 2848 Practice Notes on Ownership

Buy notice for joint share ownership plan (JSOP) agreement

Buy notice for joint share ownership plan (JSOP) agreement To: [insert name of participant] We refer to the agreement that we entered into on [date] with you and [insert name of the Company whose shares are under the JSOP award] (the Company), under which we jointly acquired shares in the Company with you (the Deed). We have received written confirmation from the Company that the Sell Right has lapsed in relation to [all OR [insert percentage]] of the Participant’s Interest under the Deed, and that the Buy Right may therefore be exercised in relation to it. In accordance with clause 9.5 of the Deed, we hereby confirm that we have therefore exercised the Buy Right on [date] in relation to [all of OR that part of] your Participant’s Interest, which we therefore acquired on that

S790D Notice (LLP)—for a legal entity

S790D Notice (LLP)—for a legal entity [Insert date] Dear [insert name of addressee] Register of People with Significant Control—Notice to a legal entity under section 790D of the Companies Act 2006 (the Act) Interests in [LLP] [rights] We know or have reasonable cause to believe that you may be a registrable legal entity, as defined in section 790C of the Act in respect of [LLP]. We therefore require you, pursuant to section 790D of the Act, to provide us, in writing [including by email to the address shown above], within one calendar month of the date of this notice, the following information concerning your interest (within the meaning of Part 21A of the Act), if any, in [LLP]: • Whether or not you are a registrable legal entity within the meaning of this Part of the Act or a legal person to be regarded as an entity under section 790C(12) of the Act; and • If you are such an entity, to confirm...

Dive into our 599 Precedents related to Ownership

How do you find out who owns a culvert located under a highway? Is a culvert under a road a highway drain? Does a highway authority own it/have power to grant rights to drain into it?

How do you find out who owns a culvert located under a highway? Is a culvert under a road a highway drain? Does a highway authority own it/have power to grant rights to drain into it? According to Environment Agency guidance on riparian ownership (EA guidance) p 31, a culvert is a covered channel or pipe designed to prevent the obstruction of a watercourse or drainage path by an artificial construction. Culvert is not defined in Water Industry (Schemes for Adoption of Private Sewers) Regulations 2011, SI 2011/1566 or the Water Industry Act 1991 (WIA 1991). Responsibility for the maintenance of any culverted watercourse usually lies with the ‘riparian owner’, see Practice Note: Riparian ownership—rights and responsibilities for further information. Where the ownership of a watercourse culvert cannot be established, then it is assumed to be the responsibility of the riparian owner. A culvert under a road is not considered a highway drain. From a practical perspective, different bodies may be responsible for culverts outside of private land...

What is the position of a security holder if the company that created the security is dissolved?

What is the position of a security holder if the company that created the security is dissolved? This Q&A focuses on the impact the dissolution of a security provider can have on the ability of a security holder to effectively enforce its security. It also considers the position of a receiver appointed by the security holder prior to the dissolution of the relevant company. Summary If a security provider is dissolved as a matter of English law it is normally still possible for the security holder to enforce the security it holds by exercising the mortgagee’s power of sale. There may be circumstances in any particular case that make an application to restore the dissolved company to the register desirable to protect the security holder’s position. Circumstances where this issue commonly arises The problems associated with a security provider being dissolved while security is in force occur most often in real estate finance and other asset finance transactions. Typically, these issues arise where a special purpose...

See the 1173 Q&As about Ownership

PFWG updates its model LTAF incorporation & co-ownership deed

An updated version of the Productive Finance Working Group (PFWG)’s model long-term asset fund (LTAF) instrument of incorporation and authorised contractual scheme (ACS) co-ownership deed has been published, following confirmation from the Financial Conduct Authority (FCA).

Problem of vendor lock-in when customers are contracting with AI providers

TMT analysis: John Salmon, partner, and James Sharp, senior associate, of Hogan Lovells consider why vendor lock-in is a particular problem in contracts for AI systems. They discuss the position vendors are taking about customers owning the IP in customisation and using any separable work product or know-how with a different AI system. They also highlight the potential IP and competition law issues which may arise when assigning ownership or exclusivity when custom changes are made to an AI system and the technical feasibility challenges.

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GLOSSARY