In a legal sense, ownership generally tends to refer to the legal rights a person (or, sometimes, a business) has to possess, use and transfer something. While it's more common in property - both residential and commercial - it could also be used in business law and even in Wills, Trusts and Probate if you're handling the estate of someone who has passed.
Ownership can take different forms. You may come across terms such as: outright ownership (where you have full control); joint ownership (where you share those rights with others); or partial ownership (like holding a stake in a business).
It can also come with certain responsibilities – from paying taxes and maintaining property to meeting legal obligations around succession planning or company management.
At GloverPriest, we understand navigating the law can be a difficult task to take on alone. That’s why we created this comprehensive guide to help promote information for everyone to use.
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